Accounting Expertise, Chartered Accountants, Auckland, New Zealand, HWI

BETTER BUSINESS
Issue Ten, July 2006

In this months issue:

Recruiting staff in a tough labour market
Competing against bigger businesses
Business signage
What's new

RECRUITING STAFF

This is a very timely topic given the current employment climate in New Zealand . Reduced immigration and an increase in Kiwis leaving for overseas has created skill shortages in many business sectors. Taking on staff is of course a big step for any business, especially a new business. HWI recommends: -

Obtaining referrals from current employees. Consider an incentive or bonus scheme for employees whose referrals are hired.
Ask your suppliers or business colleagues. They may be able to recommend good salespeople who have called on them or competent technical people who have serviced their equipment.
Approach retirees and other good former employees.

Utilise the power of the internet to post an advertisement. Some small business owners experience success in recruiting through such employment sites as search4jobs.co.nz or seek.co.nz

COMPETING AGAINST BIGGER BUSINESSES

Bigger does not necessarily mean better when in business. There are many advantages of being a smaller player in a global marketplace. Smaller businesses are usually quicker to act on any opportunities or threats - this greater speed of change allows small business to refocus their strategies accordingly. Smaller businesses are also in a better position to offer personalised customer service, in depth product knowledge and better after-sales service and support. The use of the internet as both a source of information and a medium to promote a business is also a great leveller - effective websites need not cost the earth. The important issue to realise is that price is not always a key motivator for customers. Complete a SWOT (strengths, weaknesses, opportunities and threats) analysis on your competition and use this to develop a list of your competitive advantages.

AVOIDING LEGAL PROBLEMS

There are several simple steps which can be taken to avoid potential legal problems:

Arm yourself with basic knowledge of business law so that you're alert to your company's obligations and rights. The Knowledge Basket is a free government website that contains New Zealand legislation ( http://www.knowledge-basket.co.nz/tkbpg/welcome.html)
Practice prevention in all aspects of your business. Always have your lawyer review contracts and agreements before they’re signed.
Get your lawyers’s opinions on documents you have drafted, such as employee policies, before you put them in place.
Familiarise yourself with trademark and patent laws so that you don’t violate them.

Another Government website www.ers.dol.govt.nz is a useful source of information about health and safety, employment relations, immigration and labour market information.

What's new at HWI...

HWI is pleased to advised that there are some new office services being offered including:
bookkeeping, payroll, temporary accounting assistance, review of office procedures,
end of year collating of financial accounts. Should you be interested in learning more
about our new services please contact us at info@technologytailors.co.nz
or phone on 09 307 8502

Disclaimer: Information contained within this document is of a general nature and does not constitute advice. Readers are cautioned not to act or rely on it without first seeking professional advice.

	BETTER BUSINESS Issue Ten, July 2006 In this months issue: Recruiting staff in a tough labour market Competing against bigger businesses Business signage What's new RECRUITING STAFF This is a very timely topic given the current employment climate in New Zealand . Reduced immigration and an increase in Kiwis leaving for overseas has created skill shortages in many business sectors. Taking on staff is of course a big step for any business, especially a new business. HWI recommends: - Obtaining referrals from current employees. Consider an incentive or bonus scheme for employees whose referrals are hired. Ask your suppliers or business colleagues. They may be able to recommend good salespeople who have called on them or competent technical people who have serviced their equipment. Approach retirees and other good former employees. Utilise the power of the internet to post an advertisement. Some small business owners experience success in recruiting through such employment sites as search4jobs.co.nz or seek.co.nz COMPETING AGAINST BIGGER BUSINESSES Bigger does not necessarily mean better when in business. There are many advantages of being a smaller player in a global marketplace. Smaller businesses are usually quicker to act on any opportunities or threats - this greater speed of change allows small business to refocus their strategies accordingly. Smaller businesses are also in a better position to offer personalised customer service, in depth product knowledge and better after-sales service and support. The use of the internet as both a source of information and a medium to promote a business is also a great leveller - effective websites need not cost the earth. The important issue to realise is that price is not always a key motivator for customers. Complete a SWOT (strengths, weaknesses, opportunities and threats) analysis on your competition and use this to develop a list of your competitive advantages. AVOIDING LEGAL PROBLEMS There are several simple steps which can be taken to avoid potential legal problems: Arm yourself with basic knowledge of business law so that you're alert to your company's obligations and rights. The Knowledge Basket is a free government website that contains New Zealand legislation ( http://www.knowledge-basket.co.nz/tkbpg/welcome.html) Practice prevention in all aspects of your business. Always have your lawyer review contracts and agreements before they’re signed. Get your lawyers’s opinions on documents you have drafted, such as employee policies, before you put them in place. Familiarise yourself with trademark and patent laws so that you don’t violate them. Another Government website www.ers.dol.govt.nz is a useful source of information about health and safety, employment relations, immigration and labour market information. What's new at HWI... HWI is pleased to advised that there are some new office services being offered including: bookkeeping, payroll, temporary accounting assistance, review of office procedures, end of year collating of financial accounts. Should you be interested in learning more about our new services please contact us at info@technologytailors.co.nz or phone on 09 307 8502 Disclaimer: Information contained within this document is of a general nature and does not constitute advice. Readers are cautioned not to act or rely on it without first seeking professional advice.
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