Most people who own a business, particularly SMEs, are looking for it to achieve the required level of sales, revenue, or profit for them to achieve what they want in life.
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Quoting and tendering - the effects of underquoting
3 February 2021 / By
RightWay in partnership with Master Electricians
How good workflow management systems can lead to better cash flow
3 February 2021 / By
RightWay in partnership with Master Electricians
Cash flow and workflow are two of the major challenges facing many trade businesses. A lot of tradespeople will be familiar with working into the evening or at weekends doing the admin, or having profit but no cash to draw on because it’s sitting in stock or accounts receivable.
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Shakespeare once wrote “Some are born great, some achieve greatness, and some have greatness thrust upon them”. When it comes to businesses, the same could be said regarding change. Some business owners and leaders naturally welcome and pursue innovation and change as part of everything they do; ...
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It's a new year. With fresh perspective and fresh ideas, now might be the time to take a good look at your business, reflect on your performance, and look at some key areas for business improvement. By being proactive now, you will not only survive this year, but you will thrive!
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Small to medium sized business owners generally fear undercharging, more than they do overcharging. But the risks associated with undercharging are more severe and can lead to business failure over time.
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The Small Business Cash Flow (Loan) Scheme (SBCS) was introduced to support businesses and organisations struggling because of loss of actual or predicted revenue as a result of COVID-19. The Government made a few updates to the scheme which includes an extension on applying for the loan, the no ...
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It’s nearly the end of another calendar year! There were moments when it felt shaky, really shaky, and like most we are just looking forward to seeing the back of 2020.
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Customers often reach out to us at RightWay when they come across cash flow issues. Often we recommend a review of their business plans, their business model and/or a forecast looking ahead.
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By now, you’re likely to be aware that the adult minimum wage in New Zealand has risen to $18.90 per hour. But this took effect from 1 April 2020, and with New Zealand entering Alert Level 4 almost a week prior on 25 March 2020, there was already a lot going on for business owners to think about ...
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After being COVID-19 free as a nation for 24 days, we hit a bit of a bump in the road last week with several new cases and counting. While it is in no way cause for panic or any great concern, it is however a timely reminder that we are living and working in a fragile situation that is out of our ...
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The mental health impacts of COVID-19 and navigating your business through these tumultuous times. Something I have tried to avoid and push aside for the last two months, but has turned out to be inescapable – and that is talking about COVID-19 and the effect it has had on me, my bubble, and my ...
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Having a plan for your cash flow is vital to ensuring your business succeeds during these uncertain times. But how do you forecast your cash when there are so many uncertainties?
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Running your own business is tough, fraught with challenges (especially at the moment!), but hugely rewarding.
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The 2020 budget is the next step in the Government’s fight against, and recovery from, COVID-19. It is also arguably the biggest budget we've seen in New Zealand's history. So what money has the Government set aside to go where?
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Freedom? Almost! I think we've all been eagerly awaiting the Alert Level 2 guidelines from the Government, which were officially announced Thursday May 7. We can now confirm that we will see a return to shopping, eating out, weddings, travelling in New Zealand, schools, sport, and seeing friends - ...
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It's official, we're moving to COVID-19 Alert Level 3 on Tuesday April 28! We heard the collective sigh of relief from business owners across the country.
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The COVID-19 pandemic has presented more challenges than we would like to mention. But it has also provided business owners with a unique opportunity that they wouldn’t have had otherwise. Stepping away from the day-to-day running of a business may seem impossible when business is running as usual, ...
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As we're hitting week three of the nationwide lockdown, it's a really good time to assess where you're at with your business, and start to look at how you could operate at the different alert levels. We covered managing your cash flow during COVID-19 here, hopefully you've put in place some steps ...
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To be feeling nervous about your business (and in general!) is not only normal, but to be expected under the current situation. Not knowing how long this lockdown will last is the hardest part of it.
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