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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
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Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
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Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
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Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
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Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
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IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
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Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
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Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
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Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
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Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
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Cloud services
Our team is led by cloud business experts who tailor services to the needs of your organisation, from strategy and implementation to ongoing services assurance.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Organisational & cultural change
The key to sustainable and future growth is a unified organisation operating within a strong cultural context, where transparency and communication are the priority for Kaimahi, and where visible leadership means walking the talk – but where does that journey begin?
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
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Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
NZ economy: why view a half full glass as half empty?
Paul Kane, partner Privately Held Business, Grant Thornton New Zealand Ltd, looks at the state of the New Zealand economy through the eyes of his firm’s clients and the macro economic factors presently in play.
If you listen to various political parties and economic commentators, you can be forgiven for thinking that the New Zealand economy is getting worse.
It’s important to work out what’s factual and what’s hearsay. We know from our work with clients that most are still turning a profit.
So why all the gloom and doom? If you start with a full glass (NZ economy in recent times) and feel that it is now approaching half empty, then of course the picture is not so rosy; but if you start with a glass almost empty (NZ economy 2010-11) then that half full glass is very promising.
If the same optimism questions being asked today were asked in 2010-11, then New Zealand business confidence would appear to be soaring.
Which brings us to today. We’re actually doing quite nicely, as evidenced by the performance of a wide cross section of our clients covering diverse sectors of the economy.
New Zealand is tracking at just under 3% growth, which, historically, is very solid. There’s no denying that dairying is weighing us down, but when you look at the other end of the see-saw, it’s not stuck way up in the air.
The macro conditions are strong. Finally, we have a falling dollar, which will help improve the dairy situation and provide a substantial boost to our export market, including tourism. Then there’s falling interest rates, low inflation, a Government set of accounts on the verge of being in surplus, falling unemployment levels and strong migration.
If you took away the dairy industry and a short-term blip in China’s growth path, then New Zealand has a good set of growing conditions.
Kiwifruit, wine and meat are all blossoming, and in the much maligned manufacturing sector, we are starting to see niche players get market traction. As rising wages and conditions in China are putting more pressure on their margins thus requiring plants to seek larger minimum runs, smaller manufacturers in New Zealand are starting to win market share.
Dairying has annual exports in excess of $13.7 billion and employs 37,000 people according to Dairy Companies Association of New Zealand.
Statistics New Zealand says that international tourist expenditure to the year ending March 2014 accounted for $10.3 billion or 15.3% of New Zealand’s total exports. Tourism also directly supports 94,100 full-time equivalent jobs.
In the year ending May 2015, 2.977million international visitors arrived in this country, an increase of 7% on the previous year with forecasts for this number to grow to 3.8 million by 2021.
China and India will be the two drivers of this international growth. According to Tourism New Zealand, 309,792 visitors arrived from China in the year to May 2015, an increase of 29.3% on the year previous, while India’s figures grew 28.9% to 42,880.
The future looks bright with two extra airlines (Air China and China Eastern) establishing year-round services, and while India does not have a direct service at present, it is only a matter of time. The World Tourism Organisation predicts that India will account for 50 million outbound tourists by 2020. There are currently only 28 million passport holders in India.
Tourism is supported by its geographical spread. There are well founded concerns that New Zealand’s economy is being driven by Auckland and Christchurch, so the fact that the tourist dollar is spent throughout the country underpins its importance. Recently Queenstown had 22 trans-Tasman international flights in a day.
So instead of lamenting dairy’s cyclical low, why not celebrate and make headlines out of tourism’s growth and opportunities?
So back to that half full – half empty glass. If New Zealand businesses look at it as half empty, it won’t be long before it is totally dry as financial paralysis will choke cash flow and confidence.
Viewed as half full, then owners and managers will have the confidence to continue to invest in their businesses and staff.
It comes down to how you view the glass.
Further enquiries, please contact:
Paul Kane
Partner, Privately Held Business
Grant Thornton New Zealand
T +64 (0)9 308 2576
E paul.kane@nz.gt.com