FOOD FOR THOUGHT

Most businesses will need bank funding at one time or another – whether it is to purchase new plant and equipment, move to larger premises, or employ more staff. Read on for tips that can help maximise your chances of success. 

For most SMEs, having a full time CFO in place is often not a reality – particularly one that can provide strategic thinking, progression and profitability. So here are the four main reasons that implementing a virtual financial controller (VCFO) is a viable option to help your business grow.

The big guy in the red suit is not the only person who needs to be organised at this time of year. Businesses can’t afford to get too carried away over the silly season and should think about preparing a business plan to see them safely through. This is because there are a few things that, if not taken care of, could hurt them early on in the New Year.

IT is, without a doubt, the ultimate game changer. Businesses deploy new technology to reduce costs, increase efficiency, improve transactions, streamline information flows, and, at the end of the day, drive revenue.

Almost every business will experience a rise in costs somewhere along their supply chain: raw materials, transportation, wages and more. Between these rising costs and growing competition many businesses are experiencing significant margin pressure, which is eroding profits. So what should businesses be doing to avoid margin pressure? Here are three strategies to consider.

Developing and finalising your business strategy is not the complete picture. For any strategy to be effective it must be implemented well. So here are our top seven rules for strategic planning execution.

Over the last 12 months many aspects of the Health and Safety (H&S) legislation for the New Zealand workplace has changed significantly, with the Health and Safety Reform Bill passed by Parliament and officially coming into effect on the 4^th of April, 2016. So what are some of the key changes and how will they impact Kiwi businesses, particularly SMEs?

You likely already know when something isn’t right. How can the competition afford to replace their fleet of motor vehicles and open that new store? There are those nagging questions about how well your business is performing and the perennial concern that costs seem to be rising faster than money is coming through the door.

I like a good surprise as much as the next person, but a surprise cash shortage, unexpected changes in margin and unanticipated tax costs will make any business owner’s blood run cold. Preparing a cash flow forecast once a year is a good start, but it's often not enough. Here’s why. 

Employee engagement is imperative for all businesses, but now, at a time when good talent is hard to find, it is critical that you invest in good retention strategies and proactively monitor staff satisfaction. But what do today's employees want; what makes them look elsewhere and what can you do to hold on to them?