Introduction Queries and complaints are a reality in any business. A well handled query is a great step toward increasing business, just as a well handled complaint can prevent you from losing business. It costs five times as much to gain a new client as it does to retain an existing one. Professionalism and…
Day: January 15, 2020
Legislative Requirements
Introduction Trading entities need to be aware of legislative environment, which imposes restrictions both on them in their individual capacities and on the entities they represent when promoting goods and services. Fair Trading Act The Fair Trading Act aims to ensure that the market for selling is an informed one. The Act…
Legal Remedies For Debt
Introduction The last resort for pursuing stubborn debtors is the legal system. It can be costly, time consuming and frustrating. And it takes you away from what you really want to be doing in your business. It’s much better to have a rigorous in-house debtor management system which still manages to preserve the customer…
Trial and Probation
Introduction Think about whether you wish to include provisions for a trial or probation period in the employment agreement for this position. The Employment Relations Act 2000 contains provisions for both ‘trial’ and ‘probationary’ periods for new employees. It is important that the employer and employee are clear about what provision applies to them.…
Insurances
Introduction While insurance requirements vary greatly from one business to another, the following is a guide to the most common types. Commercial Building Covers full replacement value including loss of rental income for 12-24 months minimum and landlord liability. Material Damage Covers the assets of your business such as buildings, stock, plant…
Planning Session
Preparation In advance of the session, try to gather the following data, where possible and appropriate: Industry research. You don’t need to be an expert, you simply need to show that you have an interest in what is happening in their business. This demonstrates your enthusiasm for their business and genuine care for them…
Induction
Introduction The purpose of good induction is so that the new employee starts to see how things work in the firm and where they fit in, meaning they are integrated well into your team. Sometimes firms make the mistake of not inducting new employees. In these instances, the employee may be left to their own…
Directors meetings — Facilitation
Introduction Our typical SME business clients can be largely unaware of the responsibilities and therefore risks of being a Company Director. In addition, these clients rarely receive any form of formal training in these areas and can be ignorant of the benefits of conducting effective monthly board meetings. Add to that the fact that many…
Interviewing
Introduction Interviews are best regarded as mutual exchanges of information rather than inquisitions. Remember that you are selling your firm to the potential employee as much as they are selling themselves to you. You need to find out whether the person would make a good addition to your team. They want to find out whether…
Sole Trader
Introduction There is nothing to stop you commencing business in your own name, e.g. John J Smith. The sole trader category is a suitable entity for small-scale business operations employing the personal talents of the proprietor. The owner of the business is personally liable for the debts of the business and all of the owner’s…
Placing an Ad
Introduction Once you have drafted the position description, you can draft your advertisement. Using colour can be very effective and will make your advertisement stand out from others. Writing your advertisement The following are some tips for writing your ad: Keep it short and sweet, don’t put the full job description in the advert,…
Dismissal Guidelines
Introduction To dismiss someone, employers must have a significant reason for the dismissal and also dismiss the worker using a fair and proper process. Even if you have a good reason for dismissing someone, if you do not follow the correct procedures, you may be found to have unjustifiably dismissed that employee. The employee may…
Skills Testing
Planning During the planning and preparation phase of your recruitment exercise, when you undertake a position analysis and identify the skills required to do the job, consider whether you will want to use skills testing at some stage of the recruitment process. Where it’s relevant to the position, we recommend that you carry out skills…
Companies
What is a Company? A company is a legal entity that is separate from the people who own it (the shareholders). Every company is registered at the New Zealand Companies Office. This is a business unit within the Ministry of Economic Development. Certain information regarding such things as ownership of a company is available to…
Client databases
Introduction A robust and detailed client database is an important tool for any business. There are many types of databases that a business may use depending on the type of business and the computer applications available. Contents This guide contains the following topics: Database basics Types of database What to record Maintenance…
Business Valuations
There is no topic about which greater differences of informed opinion may exist than the value of a business or shares in a private company. The value of a business is naturally influenced by the willingness of a vendor to sell and a purchaser to buy. It is usually assumed that fair value is a…
Business Systemisation
Introduction Good systems are key in the successful day-to-day operation of businesses. Having robust systems in place makes it easier for a business to expand or set up multiple locations. It also makes it easier for a business owner to work on, rather than in, their business. Contents This guide contains the…
Business Structures
Introduction Small businesses can be operated by the utilisation of a number of different entities. This guide contains the following topics: Sole Trader Partnership Family Trust Company If you intend to start a small business, discuss it with your chartered accountant and solicitor before business operations commence, prior to signing any contracts. It is…
Business appraisals preparation
Systematic Approach to a Business Appraisal 1. Assess What You Are Buying Goodwill Plant & Equipment Fixtures & Fittings Stock and Work in Progress Debtors Franchise Rights Training Licenses Liabilities Other Assets Business Structure 2. Financial Assessment Historical Accounts (3 years) Analysis of Significant Expenses Ratio Analysis Review Income Components Look Behind the…
Building an Employment Agreement
Legal status and requirements Under the Employment Relations Act (ERA) you must supply a written agreement to your new employee and they must sign it to indicate acceptance of your terms and conditions of employment. Until it is signed, it remains a draft Employment Agreement. The employer signs it before sending it out with a…
Branding & Promotions
Introduction Your branding and promotional efforts make up a large part of your marketing and are important to get right. This guide focuses on the subject of branding and promotional efforts which promote your business in general. Specific parts of your promotions such as advertising and direct marketing will be dealt with in further guides,…
Behavioural profiling
Introduction Behavioural profiling is a valuable tool, which has transformed individuals as well as businesses worldwide. It is a tool used to identify behavioural style by measuring attributes or qualities of a person and aspects of his or her personality. It can be used in many contexts, both in the workplace and elsewhere. Behavioural profiling…
Advertising
Introduction Advertising is the way you let the general public know about your business and your events. As well as general advertising to promote your business, it is highly likely you will need specialised advertising to let people know about specials, sales and events. Advertising is your call to action. Contents This guide contains…
ACC levies
Introduction ACC provides personal injury cover for all New Zealand citizens, residents and temporary visitors to New Zealand. ACC uses a risk-based classification system where business activities are grouped so the costs of work injuries are fairly distributed among similar businesses. ACC sets levies for each group by comparing costs of previous claims with total…