Growth in local businesses predicted in coming years
As the population grows, so too will the number of businesses that will call Ōmokoroa home. With the pandemic fostering a highly mobile workforce, and new commercial facilities underway, residents can expect to see a growth in more opportunities to work, live, play and stay local.
Yvonne Handley, Money Metrics Chartered Accountant for Western Bay, is expecting to see strong growth in small to medium enterprises (SME’s) in the area over the coming years.
“With the upcoming development, the future of Ōmokoroa as a thriving micro-climate of locally established SMEs is bright,” she says. “Some people will create new businesses as opportunities arise, others may bring established businesses with them when they move into the area.”
Small businesses are the backbone of communities and play a vital role in building the individuality and character of a town. They bring valuable skills, innovation, encourage entrepreneurship and create jobs.
A qualified Chartered Accountant and business advisor with over 20 years’ experience in the industry, Yvonne knows the highly tangible ways small businesses contribute to their local area.
“Not only do they help the economy to become more sustainable, but they quite often get involved with events and community initiatives. They also will spend much of their incomes where they live, helping to create a sustainable micro-economy”.
Yvonne has vast experience in the banking sector and says that her clients are increasingly seeking support to manage business growth and challenges.
As the end of the financial year approaches on 31st March, Yvonne shares some of her top tips for sound financial practices for 2022:
1. Cash flow will be key and keep in mind that ‘rainy day’ - know what bills you have due and when.
2. Be smart about financing - know your short term and long term options.
3. Getting involved in supporting your local community is good for business. Work with a trusted accountant to learn how you can make a social impact in a way that is sustainable for your business.