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Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.
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COVID-19 Government Response: Changes to the Tax System

COVID-19 Government Response: Changes to the Tax System

The Government of New Zealand passed urgent bill (COVID-19 Response: Taxation and Social Assistance Urgent Measures) to deal with the economic turmoil created by COVID-19. This bill provides immediate response and relief to struggling businesses and individuals. The targeted measures aimed at providing relief to those that have been economically affected by the COVID-19 outbreak.

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MAY
16
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Time Management for small business

Time Management for small business

Time Management

 

Time management is using a person’s time more effectively to accomplish tasks within a short period of time in order to improve both efficiency and productively of the task.


Managing time is one of the crucial skills for a small business to possess if wish to succeed. As many small businesses struggle to complete day-to day tasks within time, they end up wasting precious time which they should be using for growing their business. Once a small business start practicing good time management, they consistently improve their products and services.

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  2663 Hits
MAY
03
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Why patience is key to grow your small business?

Why patience is key to grow your small business?

Patience

Patience is a virtue for growth and profits in many small businesses. Although entrepreneurs want to grow fast with their new business plan and expect fast results, they need to be patient to see success. Having patience means you can wait peacefully because you have invested time, energy and money rather than getting frustrated, worried or disappointed.

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APR
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Why you should possess good listening skills in small businesses?

Why you should possess good listening skills in small businesses?

Listening

Listening is the key to effective communication. Effective listening helps in sharing clear information, increasing productivity, building customer satisfaction and employee motivation. Whereas poor listening can easily create misunderstanding, irritation or frustration in business.


Listening is a desirable strength for your business to have in order to build relationships both internally and externally.

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APR
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Why are small businesses important in growing New Zealand’s economy?

Why are small businesses important in growing New Zealand’s economy?

Small Businesses

 

Small businesses are independently owned cooperation, partnerships or sole traders. There is a close control over operations and decisions by the owners. In NZ, small businesses play an important role in the growth of economy as they make up majority of businesses.


Although the big businesses may lead the stock market, however the small businesses are making economy moving as these are engine for growth. 97% of businesses in NZ are small businesses, employing less than 20 people and contributing 28% in GDP of NZ (New Zealand’s Support for Small Business 2018).

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APR
09
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Team Building

Team Building

Team building is a systemic process where individuals work together in a well-coordinated and cooperative way turning into a cohesive team in order to achieve common goal. Team work is crucial for the success of a business. With team building skills, knowledge, talent and creativity of different individuals are blended together to get the best out of them.


Effective team building enhances working relationship between individuals, improves cooperation and as a result, produces better results, improves productivity, boosts morale and overall motivates team.

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  2765 Hits
APR
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Why Business networking essential for small businesses?

Why Business networking essential for small businesses?

Business Networking

Business networking is a process of creating and nurturing relationships with other businesses, clients or potential customers. It is mutually beneficial for both the parties to enhance their knowledge, build new business opportunities and learn from success of others.

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  2685 Hits
MAR
26
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Employee engagement for small businesses

Employee engagement for small businesses

Enhance employee engagment

Employee engagement is the degree to which employees feel enthusiastic about their work, are highly committed and put their best effort in the growth of the business. As employees are backbone of any business, so employee engagement not just meant for running your business smoothly, but also helps in overall success.


Engaged employees are focused, full of energy and always present in the situation. They are constantly ready to do more than what is expected out of them as they feel connected with the purpose of the business. According to Gallup, companies with engaged employees outperformed their peers by 147% in earnings per share.

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  2645 Hits
MAR
15
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Mantra to solve all kind of business problems

Mantra to solve all kind of business problems

Problem Solving

Problem solving is a process of working on the minuteness of a problem in purpose of reaching a solution. These days, none of the businesses have immunity towards problems, so they face many problems every day. In one situation, problems can be small, easy and simple or big, difficult and complex in other. How a business handles a problem makes a huge difference in its success and failure.

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  2605 Hits
MAR
10
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Why is customer service important for your business?

Why is customer service important for your business?

Importance of Customer Service


The services provided by your company to the customers before and after purchasing products or services is called customer service. Your customers can be new, potential or existing. If you want to grow your business, then customer service is the heart of your business irrespective of its size.

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  20799 Hits