Builders hammer home the importance of Terms & Conditions of Trade
New Zealand Building and Construction companies have a plethora of paperwork to wade through in their efforts to create a profitable business. Not only must they satisfy their customers that they are Certified Licensed Building Practitioners, there is the Health & Safety requirements to comply with, the nuances of the Construction Contracts Act 2002 and […]
CASH FLOW PROBLEM? Well drafted “Terms of Trade” may be the answer!
If your business does not have clear payment “Terms and Conditions”, your customers have no reason to pay your bills promptly. They often face cash flow problems of their own that cause them to delay paying bills when they can do so. Cash flow problems are often compounded by poorly drafted or non-existent credit terms […]
ECANZ members light up with Comprehensive Terms of Trade
It has been a “real buzz” to assist The Electrical Contractors Association of New Zealand to upgrade their Terms of Trade. Master Electrician Contractors are the professionals of the electrical trade and members in Greymouth, Nelson and Blenheim exemplify the high standards demanded by the group. ECANZ The Electrical Contractors Association of New Zealand has […]
“TERMS OF TRADE SIMPLY BRILLIANT”
I was fortunate enough last week on my trip to the West Coast to strike Greymouth on a brilliantly sunny April day. Wow, it felt like Maui and being cast in an original scene from “Hawaii Five O “. Over lunch I was half expecting to bump into Jack Lord. No I hadn’t consumed to […]
The cold wind that blows on small business debt recovery
A Southerly weather change blew through the streets of Kaikoura last week and prompted many to reach for the “beanies and puffer jackets”. Here was I dressed like a “Nelsonian on a Summers day” and not prepared for the cool climate change. In hindsight I should’ve studied the forecast and planned my wardrobe accordingly. Hindsight […]
Company Receivership. Avoid the pain become a secured creditor.
Why do companies about to go into receivership tell their customers that “everything is fine”. Is it deceit, blatant lies or is it because staff and management “just don’t know”. Whatever the reason the grief, financial and emotional fallout for all affected parties is huge. This week KordaMentha were appointed receivers of both Stonewood Homes […]
Terms of Trade – An essential part of Kiwi business
After a recent visit to the West Coast on business, I can honestly say that the “vibrant Coaster spirit is alive and well” especially in the outlying areas of Ahaura, Ikamatua, and Omoto. The common thread the business owners share with their counterparts in the larger cities of Greymouth and Westport is “bad debt”. Often […]
Get good Terms of Trade and ensure healthy cash flow
Ask yourself, Are you a business or a bank? In 90 days that money you are owed is worth 80% of what it is worth now. Cash is the lifeblood of the business. No cash – No business. The lack of cash has been cited as one of the main causes of small business failure. […]
Protecting your Intellectual Property
I was fortunate recently to attend a Nelson Tasman Business Trust seminar on the importance of protecting your intellectual property. Not only was it an opportunity to meet Nelson business owners and learn more about their businesses but it reinforced the importance of having the Intellectual Property clause in your Terms of Trade documentation where […]
Another building company bites the dust!
Some of you may be aware that on average building companies are going into liquidation at a pace of around one a week in Canterbury at the moment. Last week was the turn of local Amberley building company – Dutch Homes. Owing their creditors the sum of around $600,000 and leaving many buildings unfinished and […]