Tips to keep your business operating in trying times

going to ground and burying your head in the sand creates uncertainty and nothing good comes of that.

2. Know where your business stands today and have a view on where it will be in 30, 60, 90 days with a good quality forecast. If you don’t have the skills to do this work

“Many were hunkered down and relying on subsidies and savings to get through the lockdown.”

Beswick said his clients, who were generally trades and construction businesses, orchard owners, or commercial and residential rental owners, were more emotional during the lockdown compared to now.

“Many are stressed about a post-wage subsidy environment, especially over winter,” he said.

“There is a lot of uncertainty out there on what happens when wage subsidy round two expires.”

While many businesses were running “full steam” now they were uncertain about what was next and whether this was a false bounce back.

“Certainly all are thankful in the area that we are still building talk to your accountant and get them to teach you.

3. Enter all your bills into your accounting system so you can always know where you stand and what money is owed when.

4. Know your credit terms and if you can get paid sooner, do so. Be careful who you offer credit to. You don’t have to offer 50 days interestfree credit.

Small Business Accounting Tauranga

1. Utilise cloud-based accounting software — SBA exclusively uses Xero — this enables you to look at ‘real time’ results

2. Consult with your accountant

3. Check govt support packages or ask your accountant about these

4. Ask for help — your accountant, IRD etc if struggling

5. Basic — keep your accounting records houses and were able to pick the kiwifruit.” Beswick encouraged people to talk to an accountant as many businesses had historically relied on copying last year and that was the business plan.

“Unfortunately that won’t work going forward so people need help,” he said.

“The main thing I’d say is ‘fly alone, die alone’.

“This means if you try and do it all yourself it will be very much harder.

“Your average business owner in Tauranga knows their trade really well, but there are lots who have plenty to learn about running a good business.”

BDO Tauranga Ltd director Paul Manning said his clients were excited to be back trading but were nervous about what was in store