Business.govt.nz is the government's website for small and medium sized businesses. It packages together information from across government to make it easier for you to find what you need to know. There are tools, templates and other resources to assist you in all phases of your business development.
Business.govt.nz has information on:
- Business structures and registrations
- Compliance across all business areas, including starting a business, employment, health and safety, and tax and reporting
- Intellectual Property protection
- Cash flow and budgeting
- Business planning, including templates to help you get started
- Tips on how to find and raise capital
- SWOT action plans. These help provide direction by shining a light on what your business does well and where you may need to improve.
Find out more on the business.govt.nz website
To find this information, go to Business.govt.nz
- Our seminars, workshops and videos
We run a number of free seminars and workshops for people new to business, or businesses that have recently registered for GST or as an employer.
It's important that you understand your responsibilities in these areas to help you get it right from the start and avoid penalties and interest being imposed on your business.
We also have a number of videos covering topics such as:
- business structures
- income and provisional tax
- registering for GST, and
- record keeping.
These videos are available on our website and are also available in English, NZ Sign Language, Te Reo Maori, Korean and Mandarin.
We suggest that you view the appropriate video(s) and if you still have further questions you can always register to attend a seminar or workshop.
You can attend our free seminars and workshops for people who:
- are new to business or who are thinking about starting a business
- have recently registered for GST
- have recently registered as an employer.
- Accountants and bookkeepers
Many businesses fail because they don't have a sound business plan and budget in place.
Consulting with an accountant or tax agent in the planning phase is always a good idea, rather than waiting until you have tax returns due, or finding that you don't have the money to meet your financial commitments when they are due.
Accountants or tax agents can help you decide on the structure of your business, what tax types you need to register for, assist with budgeting and provide advice on cash flow.
Bookkeepers can also assist by recording your business transactions in preparation for handing them over to your accountant.
We don't have a list of recommended tax agents, accountants or bookkeepers. We suggest you talk to family and friends who may know of a suitable accountant. It's important that you chose an accountant who will provide the level of service you require as different accountants may offer different services.
Regardless of the professional support or assistance you arrange for your business, you're still ultimately responsible for meeting your obligations.
- Business advisors, mentors and coaches
There are a number of mentors and advisors available to assist with the planning, development and running of your business.
Many of the mentors are successful business people willing to share their knowledge and expertise. They will provide a fresh perspective when looking at your business concept.
We don't recommend any mentors or coaches, but business.govt.nz has some excellent guidance for you about mentoring services.
- Planning for tax
It's important that you:
- plan and budget for tax, and
- have separate bank accounts for your business, so that your business transactions are kept separate from your private transactions.
We also recommend that you have a second business bank account just for tax that you deposit 25% of your earnings into to cover your tax commitments. Failure to pay tax on time will result in penalties and interest being imposed. It's also important that you file your tax returns on time to avoid late filing penalties, even if you don't have the money to pay the tax calculated.