Category Archives: Covid-19

Covid-19: Business Relief Options Update

Covid-19: Business Relief Options Update

COVID-19 Business Relief Options announced by the Government have recently been extended for any New Zealand business that is currently facing a financial hardship. Read on to find out what relief option your business might qualify for.

Wages Subsidies are now closed


Insolvency relief for companies impacted by COVID-19

The Government introduced new legislation to make changes to the Companies Act to help businesses facing insolvency due to COVID-19 to remain viable, with the aim of keeping New Zealanders in jobs.

COVID-19 Business Finance Guarantee Scheme

The Government launched a Business Finance Guarantee Scheme for small and medium-sized businesses, to protect jobs and support the economy. The Crown, in partnership with participating approved banks, will support targeted new loans (including increases to existing limits) to eligible businesses, as a response to difficulties caused by COVID-19. Under the scheme, businesses with annual revenue up to $200m can apply to their banks for loans up to $5,000,000, for up to five years.

The scheme is open for applications until 31 December 2020

Key information

The purpose of these loans is to help New Zealand businesses facing hardship as a consequence of COVID-19 to do one or more of the following:

  • To respond to the impacts of COVID-19;
  • To position themselves for recovery from the impacts of COVID-19; or
  • To recover from the impacts of COVID-19.
  • Maximum loan per eligible business up to $5,000,000.
  • The loan is for a maximum of 5 years and must be repaid over this time period.
  • Please note this is a loan and will add to the costs of running your business. As with any other loan, you remain responsible for repaying 100% of the loan and interest. You should not apply for an amount that you cannot afford to repay.

The Business Finance Guarantee Scheme cannot be used for

  • Distribution of dividends or on-lending outside the customer’s guaranteeing group
  • Refinancing more than 20% of your existing debt with us. There are certain exceptions to the 20% limit

Industry exclusions

Business Finance Guarantee Scheme Loans are not available to:

  • a local authority, a council-controlled organisation or a council organisation for the purposes of the Local Government Act 2002; or
  • anyone who is classified by us in the follow categories: residential property investor or developer and commercial property investor or developer.
  • The manufacture or distribution of recreational cannabis
  • The processing of whale meat
  • The manufacture of cluster munitions, anti-personnel mines, tobacco, and civilian automatic and semi-automatic firearms, magazines or parts
  • The manufacture or testing of nuclear explosive devices
  • Any activity which is illegal in New Zealand
Should you require support in making an application please contact


Is your business heading into the ‘Quieter Months’?

Is your business heading into the ‘Quieter Months’?

“Have you got a buried stash of nuts to get you through the cold season?”


June – September are the quiet months for some industries and business-types. Normally, this is offset by the peak months of March-May when there is an ability to ‘save some nuts for winter’. But that opportunity was lost this year. So what should you do if you’re going into the next couple of months with no cash reserves and low forecasted sales?

The number one priority is to make sure you’re having regular conversations with someone such as a business advisor. Put your hand up early if it’s going to be too much, rather than trying to do it all by yourself and hoping for the best. It’s a regressive economy at the moment, you’ve got to reach out and engage with your advisors more than you would normally do so. It could be a 30min Zoom call once a week.

You went into business for a particular reason or skill set, you don’t necessarily have the skill set across every aspect of the business, so use your advisors.

If you’re worried about how your business will get through the next couple of months, please get in touch for a no cost, no obligation call. Call: 09-309-3222 OR Email:


How many days do you wait between completing work and sending your invoice?

How many days do you wait between completing work and sending your invoice?

Aim to get your invoices out as soon as the function or process has been completed – don’t wait until Monday. If you need to wait because you’re waiting on another party to invoice you for parts, or services, ring up and get a quote as to what the costs are so you can get your invoice out.

Reduce the time between completing work, invoicing, and getting paid, to speed up getting cash into your business, to give you more room to breathe going forward.

If you’d like more tips on getting paid and increasing cash flow, reach out to us for a free strategy call and we can send you a copy of our eBook, Starting a Business, Growing a Business.

How much time each week, or month, do you set aside for strategic or business planning?

How much time each week, or month, do you set aside for strategic or business planning?

“If you fail to plan, you are planning to fail” – Benjamin Franklin.


The first thing you must do when considering starting or buying a business is to complete a business plan, preferably with an advisor, to ensure that the business concept is viable.

But what about after you’ve become a proud business owner? Why should you continue reviewing and revising your business plan? Or spend time creating strategic plans?

  • To help you make sound decisions that support your short-term and long-term goals
  • To identify any possible risks
  • To communicate ideas or visions to stakeholders

Planning regularly and reviewing these plans with an experienced advisor ensures you are taking the necessary steps to reach your goals, you can address potential risks, and your ideas are scrutinised and looked at through a strategic and financial lens. Some ideas seem absolutely brilliant… until they’re put down on paper.

If you need help prioritising planning for your business, please get in touch with Murray, and he’ll help you create a path to achieve your goals. Call: 09-309-3222 OR Email:

It’s the 20th of the month tomorrow. What’s your plan if your clients don’t pay?

It’s the 20th of the month tomorrow. What’s your plan if your clients don’t pay?

During lockdown some invoices may have been missed, or you might not have wanted to chase up an invoice because you weren’t sure someone would answer the phone. If you haven’t already begun chasing up late payments, now is when you need to be starting to push, and really drill down and understand why those invoices haven’t been paid.

Consider outsourcing the credit collection to an external specialist who is going to be chasing the clients at least weekly. Your number one priority now is to concentrate on growing your business, understanding the new environment. It might be that you outsource debt collection for 3-6 months or it might be that you outsource it permanently. Yes there is a cost, but the tradeoff is that it will reduce the likelihood of bad debts and should bring more cash into the business faster, and at the moment, everyone needs cash.

And if you’re struggling to pay any of your taxes at the moment, set in motion with IRD a payment arrangement in order to reduce penalty tax as it is the penalty costs that have a major impact on your debt. If you need any assistance please give Murray a call (09-309-3222).

Running a business without a business plan is like rock climbing blindfolded…

Running a business without a business plan is like rock climbing blindfolded…

Your chances of making it successfully to the top are slim and the process will surely be a death-defying one. And yet, 44% of SMEs don’t have a business plan that is being actioned.

A business plan is not just a means to secure financing; A good business plan is a step-by-step guide to running your business and creating the product or service that will make it in the marketplace. A good business plan addresses business risks, the concerns that are keeping you awake at night. A good business plan outlines your company vision, where you want to be at a future date, and strategies that will help you grow your business to get there.

But most importantly, a good business plan is one that is actioned, actively managed, and adjusted according to your vision for the company, the conditions and opportunities in the marketplace, and your business’ current condition.

For advice on getting started writing your business plan, check out our article or reach out to discuss how I can help or support you.


Will borrowing funding for my business expose me to greater personal risk?

Will borrowing funding for my business expose me to greater personal risk?

If you go to your bank, yes, your bank will likely require you to secure personal assets (i.e your house) against the loan, exposing your personal assets to risk as the banks want greater security. If you need to borrow funding for business asset purchases, consider using a second-tier lender that secures the funding against the specific asset, or ask your own bank if securing the funding against a specific asset is an option. You’ll pay more in terms of interest, but the risk to you is a risk around that specific asset, not around your house.

If you’re concerned about your personal financial risk as a business owner, please feel free to reach out. I’m only a message or call away (09-309-3222).

Are you working ‘on’ your business or ‘in’ your business?

Are you working ‘on’ your business or ‘in’ your business?

Are you trying to do everything by yourself? How much of what you do could be done by someone else, so that you can focus on your core business activity?

As small business owners we often think we can, or should, do it all ourselves. We have to, right? Often there isn’t a dedicated role or team within our business for each function. Although we sometimes get away with wearing many hats, right now what we actually need to be concentrating on is our core business activity.

The next 6-12 weeks are crucial for the survival of a business, so a lot of these other adjuncts like accounting and marketing have to be, or should be, outsourced so you can focus on getting your business through.

If you want to start working ‘on’, not ‘in’ your business, reach out for a no obligation call or visit our website to find out more about our CFO program.

3 Steps to Success

3 Steps to Success

Are business concerns keeping you awake at night?

Follow these 3 steps to de-risk your business and get a better night’s sleep!

1. Understand the risk and value drivers in your business – read the latest SME research report and then contact Insight CA to complete a Risk Assessment.

2. Collaborate to improve business performance – Share the insights from the report with staff, key stakeholders, your business support network i.e. business coach or advisor. Discuss how these insights could be applied to improve key areas of your business where you have identified risks.

3. Select an accountability partner to support success – Look for an accountability partner with the experience and skill set to act as a sounding board; a second pair of eyes and ears to listen to your challenges and ideas, and point out things you may not have thought of.

Grab your copy of the latest SME research report* to understand some of the risks SMEs are facing, and key insights as to how they are dealing with them, then reach out to discuss next steps on how I can help you on your journey to addressing the concerns keeping you awake at night.


Is your business Owner-Proof?

Is your business Owner-Proof?

For many SMEs the business owner(s) are both the key to success and the source of the highest risk. 61% of SMEs report a high – very high degree of owner reliance. So what are they doing about it?

  • Implementing ‘Turnkey’ manuals and systems
  • Putting key customers on 12 month contracts
  • Introducing new websites and e-commerce platforms

What are you doing, or have done, to reduce owner reliance in your business?

For more insights on the risks SMEs are facing, and key ideas for improvement, grab your free copy of our latest SME research report*

If you’re worried about the risks to your business, or want help to implement improvement ideas, please reach out for a no obligation, no cost call.