For many business owners, the day-to-day demands of running a business can make long-term planning seem like a distant concern. But, failing to plan for succession can put your business—and its legacy—at significant risk. The question you need to ask yourself is: Is hope your exit plan, or do you have a strategy?

Running a small business is a constant juggle, and one of the more frustrating tasks is managing your receivables. How often have you found yourself waiting on overdue invoices, wondering if you'll have enough cash flow to cover next month's expenses? If this sounds familiar, you're not alone. Many small business owners struggle with keeping their accounts receivable in check, which can ultimately impact their business's health and sustainability.

When it comes to valuing a business, most people’s first thought is straightforward - profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business's true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success.

Successful businesses don’t just invest in tools and innovation—they invest in their people. An employee training program is a strategic way to empower your team, close skill gaps, and cultivate loyalty. But where do you even begin to craft a program that truly makes an impact?

This guide will walk you through actionable steps to develop an effective employee training program that aligns with your business needs and leaves your team feeling confident and motivated.

Managing a small business can feel like balancing countless tasks at once. In the midst of it all, one key metric stands out  – Gross Profit Margin. But what is Gross Profit Margin, and why does it matter for small business owners? Let's look at how to calculate it, why it matters, and how you can use it to unlock your business's full potential.

Did you know that 39% of projects fail due to budget issues? For small businesses and entrepreneurs in NZ, managing a project budget effectively is crucial to ensuring profitability. Project budgeting is more than just crunching numbers; it's about steering your business towards success by avoiding potential pitfalls and seizing opportunities. Whether you're launching a new product or expanding services, mastering project budgeting is an invaluable skill for achieving your business goals.

Planning for a profitable year is a goal shared by all businesses, and effective financial forecasting plays a pivotal role in achieving it. For New Zealand businesses, understanding how to utilise financial forecasting can provide a clear roadmap to success. Here's our guide to help you harness the power of forecasting to plan for a prosperous year ahead.

As we approach the final quarter of this financial year, now is a great time to think about your tax planning. Smart tax planning is not just about compliance; it's an opportunity to optimise your financial position and set your business up for success. Affinity Accounting is here to guide you through some essential strategies to consider before the financial year wraps up.

Have you ever wondered how businesses accurately price custom projects? The answer lies in a powerful method called job order costing. For small business owners and entrepreneurs, mastering this technique can be your ticket to boosting profitability and ensuring precise pricing for every job.

As a small business owner, understanding your financial health is crucial. How else do you know how your business is really doing?Key Performance Indicators (KPIs) serve as vital tools to measure your business's financial performance, helping you make informed decisions. Let’s explore some essential KPIs and how they can benefit your business.

In line with our annual tradition and our core values of sustainability and reducing waste, we’ve chosen to donate to worthy charities.

Running a small business today can feel a bit like juggling while walking a tightrope. That’s why goal setting is so important. Goals act as the compass guiding your business towards success. Let's explore why setting clear goals is crucial for your business's growth and prosperity.

The festive season is a time for celebration and relaxation, but for small business owners, it also presents a unique set of challenges. Keeping suppliers and customers satisfied while you're out of the office requires careful planning and communication. Here are some tips from our team to help maintain those crucial relationships during the holiday period.

As the end of the year approaches, many small business owners find themselves gearing up for a well-deserved break. However, winding down doesn’t mean losing momentum. By preparing in advance, you can ensure that your business continues to thrive even while you recharge. Here are some practical tips from Affinity Accounting to help you get ahead.

As we edge closer to 2025, small businesses find themselves at the forefront of a rapidly evolving landscape. Staying ahead of the curve requires agility and foresight. Here’s a look at some of the key trends that we believe will shape your business operations and growth in the coming year.

As a small business owner, preparing for the new year can feel like a daunting task. However, with some strategic planning and organisation, you can approach it with confidence and ease. Here, we’ll explore some practical steps to help you get ahead, ensuring that your business is ready to tackle the new year, and the upcoming tax year without a hitch.

As the holiday season approaches, it's time to tie up any loose ends and prepare your business for a fresh start in the new year. By prioritising these essential end-of-year activities, you can ensure a smooth transition and greet the upcoming year with confidence and organisation. Read on for tips from the team at Affinity Accounting.

For small business owners, planning for growth is not just about envisioning a brighter future—it's about setting concrete financial goals that align with your business objectives. Strategic financial planning can pave the way for sustainable expansion, ensuring your business thrives in a competitive landscape. Let’s explore how you can set and achieve these goals effectively.

As the holiday season unfolds, it's easy to get caught up in the spirit of giving. At Affinity Accounting, we understand the urge to spread joy with gifts for loved ones. However, it's crucial to keep your finances in check to avoid facing a hefty bill in January. Here are some practical tips from the Affinity Accounting team to help you manage your holiday spending wisely.

Many small business owners consider rewarding their employees with holiday bonuses at this time of year. While these bonuses can boost morale and show appreciation, it's crucial to understand the tax implications involved, both for employers and employees. Let's delve into how holiday bonuses are taxed and explore some strategies for managing these financial aspects effectively.