A word about good planning
2021 delivers a raft of new finance and tax issues for business owners to get to grips with. Gofi8ure’s Lisa Martin provides some clarity and advice to help you stay on top of your business finances.
It’s no secret we’d all rather forget 2020. The pandemic not only had a significant impact on the viability and finances of New Zealand’s businesses, but many business owners also struggled to get their head around various new tax and compliance requirements.
2021 presents another unique set of potential money and tax-related stumbling blocks, and GoFi8ure’s Lisa Martin believes the key to dealing with them lies in mastering the four functions of management – namely planning, leadership, organisation and control.
Most people bring core skills or expertise to a business, Martin explains. “But as a business owner they’re naturally wearing 12 other hats, and often planning just doesn’t come naturally.” Leadership isn’t necessarily a natural asset either; Covid has tested everyone’s organisational agility to the max; and, as for ‘control’ – this is where a business owner must understand the control mechanisms of his/ her business and stress-test absolutely everything.