Business Warnings



Watch your Advisers

Your adviser may be dangerous to your wealth. Not many years ago, a person's word was taken as his/her bond. Those days have changed. Today it is necessary to have everything in writing ...


Family Issue to Deal With

Family owned businesses, like all businesses, will experience their fair share of conflicts. Because the people working in the business are family members, issues involved can run even deeper ...


Be Careful With Banks

Many business owners do not like telling the bank everything about their business. They may feel the bank can be a friend and ally or a consultant, but not necessarily someone who ...


A Good Broker is Essential

A business broker works for the client who engages them. If you are selling a business, the broker will act for you on the sale of that business and is responsible to you, their client ...


Watch your Business Growth

A business needs to have growth. If you don't grow you are standing still. If you are standing still you are basically going in reverse. Growth should be part of your business dream ...


Keeping Good Records is Critical

Here is a broad outline of the type of records that the IRD requires you to keep. You must keep enough records to be able to calculate your income and expenses and to confirm your accounts ...


What is the value of your Business?

A business is worth whatever someone else is prepared to pay for it and therefore its value will vary from person to person. There are many ways to value a business and the final price will differ ...


Check Out your Franchise

Before buying a franchise you need to sit down and talk with your accountant as well as a franchise lawyer and get answers for all questions that you may have in your head ...


Watch your Cash Always

The saying that “cash is king” is still applicable today. Having cash on hand to meet the expenses of the business is a critical factor which determines the success or otherwise ...


Don't take being a Director lightly

your company is a small private company then you will not be required to provide formal financial reports under the Companies Act. You will still need to complete reports for taxation ...


Credit Agencies Have Info on you

You need to know there is a file on you, listing all your personal financial and credit information. This is held by the various credit reporting agencies. If you have ever had a bank account ...


Credit Cards can make you Poor

Here are some important tips you should consider: Use credit cards only for essential purchases. Keep unused cards in a safe place. Carry your credit card separate from your wallet or purse ...


Warnings about Theft by All

Customer theft can be minimised by ensuring everyone in your business is alert and follows procedure, as well as being committed to practising customer service ...


Carry out Due Diligence - no exceptions

After the buyer of a business you will given a specified period of time to carry out a due diligence investigation of the business. Due diligence simply means checking out the business fully ...


When it's Time to Call it Quits

Every business needs to think about an exit strategy. It's all very well, when things are going well and there is no likelihood of you ever needing to exit from the business ...


When you can't Pay Your Debts

When a person in business or in partnership (with unlimited liability) is unable to pay their debts when they become due, they are said to be insolvent. As soon as someone is unable to pay ...


Important to Protect your I.P

Intellectual property is often worth more to the business than its tangible assets. Because it consists of business strategies, images, ideas and concepts, intellectual property ...


Be Familiar with the Law

It is advisable to always lock windows and doors when you leave home, and let your neighbours know if you plan to be away for any length of time. It is also a good idea to install deadlocks ...


Partners Can Be Liable

Partnerships are regulated by the Partnership Act 1908 and by the common law of partnership, largely based on British law. Joint ventures are generally documented in much more detail than partnerships ...


Choose Partners carefully

Where payments are made by partnership to other people, such as relatives, or those associated with a partner, then that payment is tax deductible to the business ...


Patents Protect Your Invention

Unless you are familiar with the Patents Act 1953 and the patent system, applying for a patent can be very complex. It is advisable that you obtain the services of a lawyer specialising in this area ...


Review Your Lease before signing

The important thing to remember when you are negotiating a lease is that the lease documentation would have been written with the landlord in mind - not you. You therefore have to read it well ...


Understand what a Prospectus is

Be aware that the prospectus is not just a glossy brochure from the company. It is an important document that contains information about the company and the shares ...


Select your Suppliers Carefully

If you have an agreement for a fixed price for certain goods then remember that these prices should be able to be increased if external factors occur. If you do this your supplier will appreciate it and look after you ...