Overall profits of New Zealand’s small and medium sized privately held businesses fell by more than a quarter last year, according to a study completed by accounting firm Grant Thornton New Zealand Ltd.
Employer contributions to Kiwi Saver and other superannuation funds are about to take a hit, when financial measures first announced in last year’s Budget kick in on 1 April 2012.
Alastair Boult, National Director, Government Advisory for business advisory and accounting firm Grant Thornton New Zealand, looks at the Government’s drive for more efficiency in the public sector following the Government’s announcement yesterday of a super ministry, the Ministry of Business, Innovation and Employment.
New Zealand companies appear blissfully unaware of impending changes to the way leases are handled on balance sheets - one of the most impactful global accounting changes in the last decade.
Grant Thornton New Zealand has acquired the management advisory firm Management Toolbox Ltd, reflecting the increasing demand from New Zealand business owners for advice on how to take advantage of the emerging growth trends in their key markets.
Having once been a world leader in the number of women in senior management roles in business, New Zealand is now dropping back to the pack, according to the latest research from Grant Thornton.
This column looks at the situation in Europe and how it might impact New Zealand business owners. It includes the views of Grant Thornton New Zealand’s Chairman Kerry McDonald, who was also the Chairman of the Government’s Savings Working Group in 2011.
Unless the Government finds its innovative mojo, moves to increase the efficiency of the public sector are likely to bear little fruit.
The government has proposed a series of significant changes to the Financial Reporting Act to make the process of preparing financial reports less complicated and costly for small and medium sized businesses (SME). We talked with Mark Hucklesby, partner at Grant Thornton New Zealand, about how these changes will affect those who own a franchise.
New Zealand business owners appear to be declining holidays so that they can support their businesses during these stressful and uncertain times.