Sidekick Rangiora

Cashflow is like toilet paper. It’s only a problem when it runs out.
Sounds crazy, but it’s the true.

When the money’s coming in and everything’s getting paid, cashflow isn’t something most business owners think about….Until you run out of accessible funds.

Good cashflow management is about seeing the squeeze coming before you’re too deep to make a move.

Here are a few questions to ask yourself:
• Do you know what your cash position looks like over the next 30, 60 or 90 days?
• Are customers paying on time?
• Do you have enough buffer for the unexpected?

Don’t wait until you get the to last few sheets to find out.

If you don’t have a cash management strategy in place, talk to us. We can help you build a plan and get ahead of it.

A big thanks to Alison from our Selwyn office for this analogy.

The latest Xero insights show sales are up with agriculture leading the way at 16.3% growth.

Industry growth is great, but it doesn’t necessarily mean more profit in your pocket or more cash in the bank.

The real question is ‘how is YOUR business doing?’

Here's what the NZ Sidekick team are seeing in the numbers and what business owners should be thinking about as they grow.

Growth needs a plan. And that plan starts with knowing your numbers.

Want to get a better handle on where your business is heading? Send us a message and let’s talk.

View the full Xero Small Business Insights 👇
https://www.xero.com/nz/resources/small-business-insights/latest-new-zealand/

Culture isn’t a vibe. It’s an investment.
And when you get it right, the return shows up in places you might not expect.

• Better people want to join you.
• Good people want to stay.
• Teams have more energy, more ideas and more ownership.
• And ultimately, that creates a better business.

At Sidekick, our culture is intentional. It’s built around finding SWANS values: Smart, Work hard, Ambitious and Nice.

Our values aren’t just words we put on a wall either. They shape who we hire, how we work together, how we support our people and the group of firms we’re building.

And we reckon that matters just as much as the numbers.

We shared our story in the NZ Herald earlier this year. Have a read and see what happens when people and performance are treated as part of the same strategy.

https://www.nzherald.co.nz/sponsored-stories/accountants-youd-want-to-spend-time-with/NB6KWMN2ENGRJCFWTNSBPK563A/

And if you’re a firm owner or accountant thinking, “That sounds like the kind of firm I want to be part of”, we’d love to talk.

Provisional tax due on the 28th? Don't assume you only have one option.

The first provisional tax payment (P1) is due this month for businesses with a March balance date.

If cashflow’s feeling a bit tight, it's worth knowing there are other ways to manage your tax obligations.

Tax pooling can give you more flexibility by allowing you to:

• Spread your payments or pay more during your stronger cashflow months.
• Avoid Inland Revenue's late payment penalties (where eligible).
• Access interest rates that are typically lower than IRD's.

The earlier you have the conversation with us, the more options you'll have.

If you're unsure how you're going to fund your provisional tax, or you'd like to understand whether tax pooling is right for your business, talk to your Sidekick advisor today.

Sidekick group work with TMNZ and Tax Traders as our tax pooling intermediaries and can help you put a plan in place so there are no surprises.

Watch our full Tax Pooling conversation with TMNZ here https://youtu.be/_nkKYKnZr-U

Meet Ollie from NZL Contracting.

He took over the family fencing & earthworks business last year, and joined a recent Sidekick business workshop to get a clearer understanding of his numbers and where he could take the business next.

Before the workshop, Ollie was relying heavily on referrals, with an under-performing website and no social media presence to help showcase the business or attract new customers.

Since attending, he’s created Instagram and pages and is preparing to launch a new website designed to showcase their work, reach his ideal customers, and create a pathway for online enquiries.

We love being part of the journey for young business owners like Ollie.

If you're ready to be supported in your growth journey, get in touch.

We reckon every business owner should prioritise 3 things when running a successful business.

The aim isn’t more hours, it’s to spend your time where it creates the most value.

1. Automate the repetitive.
Use technology like Xero, Hubdoc and payroll software to take care of the admin.

2. Define your numbers.
Real-time visibility over your cash flow, profitability and upcoming commitments helps you make better business decisions with confidence.

3. Get proactive advice.
Don't wait until the end of the financial year to talk to your accountant. Regular conversations, like our quarterly meetings are where we can delve into forecasting, tax planning and growth opportunities. Saving you time, money and unnecessary stress.

With the right systems, the right visibility, and the right people around you, your business will thrive!

Business is easier with a Sidekick:
If you know what your version of success looks like, we’d love to help you reach it.
Talk to us today.

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