Planning
Business Planning
A good business plan is the starting point for every business. It does not have to be a glitzy document but it does need to be written down and it needs to be an everyday working tool of your business. Keep your business plan short and concise but make sure it sets out your goals for the business; most importantly refer to it regularly to help you keep a clear focus on the direction of your business.
Taxation advice and planning
Every business has to pay tax of one type or another. Understanding your legal obligations and planning your systems and cashflow to satisfy these obligations is an important part of your business planning. The requirements are often anything but pain free, however good planning can ease the pain.
A very important reason for good taxation planning is the very tough penalties regime now in place at the Inland Revenue Department. Your taxation planning should include provision for:
- PAYE
- Provisional Tax
- Terminal Tax
- GST
- ACC
Cashflow Planning
A good cashflow plan is another important tool that you should regularly refer to. This will help make sure you are on track financially and if something is going wrong, will help you identify the trend early.
