Small Business Guides - Invoice payment terms: Top seven tips

10 April 2017 / By Xero
Small business cashflow depends on prompt payment. We analysed over 12 million invoices to discover some revelations about getting paid on time. We also asked the small business community for their tips and tricks. Invoicing tips from other small businesses Just about every small business struggles ...
Read More

Business Owner? Thinking of buying a motor vehicle, now might be the right time.

27 March 2017 / By RightWay New Zealand
Changes to FBT rules on motor vehicles mean potential new savings. Let RightWay find the best FBT option that saves you the most.
Read More

Business succession and exit planning

26 January 2017 / By RightWay Ltd
Only 20% of all of the businesses listed for sale ever sell, and 90% of all of the people who begin the search to buy a business never complete a transaction... Many business owners expect the sale of their business to fund their retirement, with over 30% reliant on it as the primary source. Many ...
Read More

Forecast your cash flow and plan ahead

30 November 2016 / By Greg Sheehan
Over these past 5 weeks, we have posted an educational series of blogs about cash flow and the importance of knowing how to manage it properly. If you have been keeping tabs on our posts, well done, and for those joining us for the first time, here is a summary and a few quick tips of the topics ...
Read More

Avoid the tax minefield and Doctor IRD

24 November 2016 / By Greg Sheehan
As a businessperson, you want to avoid running into tax minefields and being treated for your injuries by the IRD.   The IRD classes tax offences as either absolute liability offences (maximum fine $12,000), knowledge offences (maximum fine $50,000), or evasion offences (maximum fine $100,000, or ...
Read More

Handling annual leave is no holiday

16 November 2016 / By Greg Sheehan
When you pay tax, the effect on your business cash flow is obvious. A lump of cash goes out. The effect of annual leave, however, may be less apparent. But annual leave does affect your cash flow. For example: - If you have a Christmas-New Year closedown, your employees are entitled to be paid for ...
Read More

Provisional tax is straightforward yet complex

2 November 2016 / By Edwin Read
Provisional tax exists largely because governments don’t like waiting for money. When it comes to calculating your provisional tax liability, there are up to three methods you can consider. Standard is the, well, standard option. If you don’t choose a method, it’s the one the IRD will use. IRD also ...
Read More

The pluses and minuses of GST and cashflow

25 October 2016 / By Edwin Read
Cashflow and profit are not the same thing. You need cashflow to generate a profit, but it’s possible to have good cashflow but still be in the red. This is the first in a series of blogs about cashflow, and the first cab off the rank is GST. As a rule, GST improves cashflow because you’ll ...
Read More

When should you recruit the help of advisors?

24 September 2016 / By Sally Newcombe
Getting sound business advice from people who know their stuff (whether it’s accountants, lawyers or the bank) is crucial for any business. So when’s the best time to bring them on board? And what support do you need when?   At the start   When you first start out in business, an advisor’s role is ...
Read More

5 years in the making

1 September 2016 / By Jade Kaukau
Friday marks a pretty special date for the team here at RightWay. Not only do we have more than 100 people helping us change the world one small business at a time, its also our 5th Birthday!   While we’re past the initial teething stages, like all 5-year-olds we’re still developing everyday, with o
Read More

Spring cleaning for men

22 August 2016 / By Greg Sheehan
This one’s unashamedly for the men. I’ll explain why shortly. Guys, do you know that feeling when you’re finishing up a morning shave and splash cold water on your face, hitting the neck with cologne? That feeling of freshness and vigour is yours. The day is ahead. So where does it go from there? Le
Read More

5 tips for running a profitable business without running yourself into the ground

18 August 2016 / By Chun M Chung
Running a small business sounds like a dream - you’re the boss and thanks to your entrepreneurial grit and innate smarts, lifelong success is surely yours.  Unfortunately the ride to riches is far from sunshine and roses. A huge 50% of small businesses in New Zealand launched in 2010 closed their ...
Read More

Employees v.s. Contractors

16 August 2016 / By RightWay
There’s often confusion among business owners around what it means to be an employer versus using contractors to run a business. So what defines a contractor? And how is this different to an employee?   Right, so here's the basics:   What is an independent contractor?   Independent contractors are ...
Read More

Does your business have raving fans?

11 August 2016 / By RightWay
Business is about making money. Charity is about giving it away. Don’t get those two confused. Ever noticed how often the most successful people seem to be great at doing both?   Remember: People who make money are not bad. Making money is what turns our economic wheels. The more money that ...
Read More

Improving sales without exhausting your marketing budget

9 August 2016 / By Chun M Chung
If you’re struggling to find a way to increase your sales and profits, it may be time to backtrack and make sure you’ve got the basics sorted. If your business plan focuses too much on acquiring new customers and not enough on retaining pre-existing ones, you could be making a mistake. Here’s why: ...
Read More