Finance

Preparing for the coming payroll changes

Payroll changes from 1 April 2026 will affect wages, KiwiSaver contributions, and ACC levies. Shannon Goodwin and Brendan Clough of Baker Tilly Staples Rodway explain what SME owners need to check now to stay compliant and avoid surprises.

Bryan Williams

Insolvencies continue to rise in NZ

As the economy stagnates, latest quarterly data shows insolvencies continue to rise, up 34 percent on Q1 and 69 percent on the same time last year. Insolvency practitioners have been kept very busy over the past year as business failures continue their upward trajectory, but BWA Insolvency’s Bryan Williams (pictured above) says the rise in demand for his services has not come as much of a surprise given the state of the economy and the headwinds facing many businesses. According to the Q2 2023 New Zealand Insolvency Market Report (Apr 1 – June 31), there were a total of 475 formal insolvency proceedings lodged in New Zealand compared to the corresponding period in 2022 when there were 281. That’s an

GreenLight Escrow

Plumber turns fintech entrepreneur; solves payment issues

GreenLight Escrow is revolutionising the way tradespeople and homeowners conduct business transactions, providing a secure and innovative platform. Co-founder Max Semmons-Russell’s determination and industry expertise led to the platform’s successful launch in May 2023. In just three months, the platform has already appealed to 70 users, 40 of which are verified and able to hold transactions. Semmons-Russell (pictured below) has been hard at work, diligently refining the platform to tailor it to the trade sector, ensuring that it truly embodies the spirit of “for tradies by tradies.” “We provide an escrow option for tradies and homeowners. As a homeowner, if you pay a deposit to a tradie or someone that’s doing work for you, once you hand it over, it’s

Financial management 1

Time for an accounting reality check

Over the past three years Kiwi business owners have navigated testing times. GoFi8ure’s Lisa Martin explains why they need a competent accountant or bookkeeper to watch over their business.   There’re business owners who, no matter the market risks and economic challenges, always manage to punch above their weight; to achieve higher than average revenues and profits. On the other hand, many others just scrape by – essentially treading water. Either way, with everyone working on getting everything together for their end-of-year accounts, a lot of uncertainty remains out there, across the board, believes GoFi8ure’s Lisa Martin. Business owners are still recovering from recent events, are definitely nervous about the future, and are not helped by rising interest rates, which

FTN founders

Streetdog scales up, seeks investors

Hot on the heels of selling out its second release of Streetdog electric motorcycles, and after launching a wholesale capital raise campaign, FTN Motion is targeting five percent of New Zealand’s moped market. FTN Motion has brought vehicle production back to Wellington, more than 25 years after it left the region in 1997, designing and building the Streetdog – the first urban electric motorcycle of its kind – in the heart of the capital. Orders for its third production round are now open. They’re partnering with Catalist – a New Zealand stock exchange connecting investors and Kiwi businesses – to raise up to $3 million through wholesale investors to support their next growth phase. Around 80 percent of FTN Motion’s

Jo Tozer 2022

Businesses reveal Budget hopes as costs rise

As inflation and rising costs continue to add pressure on local businesses, SMEs have little confidence Budget 2023 will deliver much reprieve for their needs. According to MYOB’s latest SME Snapshot – a nationwide survey of 500-plus SME owners and decision makers – a majority (62%) of SME leaders aren’t confident that the upcoming Budget will deliver benefits for businesses like theirs, while just under a third are ‘quite’ or ‘very’ confident it would, and the remainder were unsure. Despite low confidence that they will see targeted investment in the Budget, SMEs are clear on what they would most like to see announced by Government this year. While most are wishing for some cost reprieve for themselves, the insights show clear

Stay ahead with NZBusiness

Get practical insights, expert advice, and the latest from New Zealand’s SME community — delivered straight to your inbox in our fortnightly newsletter. Plus, access our latest digital issues anytime.