24 Feb Devastation and disaster!
2023 has been challenging in NZ these first 2 months! Flooding and Cyclone Gabrielle wreaking havoc across the North Island. Natural disasters like these highlight small businesses vulnerability as they try and respond for both their personal and work situation; often with limited cashflow and resources.
- Getting information from the official sources – an excellent place to start here
- Putting your own oxygen mask on first. Xero have widened their XAP initiative for all small business owners and employees in the North Island until 31 March – get more info here
- Getting the right information regarding payroll and employment matters – great overview of what to consider here
- Understand the difference between a Business Continuity Plan and an Emergency Plan – and have both!
- File your Inland Revenue returns on time (eg. GST, payday filing, income tax) even if you can’t make payments on time – and talk to your accounting professional to get assistance with setting up payment arrangements as soon as you realise you can’t pay on time
- Reviewing your insurances – this should include business interruption, income protection as well as buildings and plant and equipment – discuss with professionals to ensure you have adequate cover that is specific to your business
- Know your numbers! – have your accounts up to date so that you can act quickly to prepare information for your bank and other business stakeholders
- Having a chat with us – Leaine will have some practical steps you can get underway.