13 articles
BDO New Zealand recently released its Business Wellbeing Index findings for the second half of 2023. The biannual study explores the relationship between wellbeing and business performance by surveying more than 500 of the country’s business leaders. Although we’re certainly not mental health expert
The war in Ukraine, volatile European markets and currencies and challenges across China’s political and economic landscape are just some of the issues impacting almost every country around the world, including New Zealand.
Following Dr Emma Gillies’ advice on resilience and burnout last month, David Pearson, of chartered accountants and business advisors BDO Hawke’s Bay, explores how personal wellbeing relates to business performance
As business owners navigated the tumultuous last few years, it would be fair to say that more than a few contemplated selling their business. With the ongoing operating uncertainties, many owners have struggled to keep their eyes on the prize and, understandably, motivation and enthusiasm levels hav
Businesses have traditionally been overconfident in their cyber controls or buried their heads in the sand when it came to best cyber security practice, resulting in the number of data breaches increasing exponentially from malicious hacking and accidental disclosures by staff. So business owners ne
All practices should have a business plan, which for small or medium-sized practices could be as simple as a one-page document. A larger and more complex practice with multiple revenue streams will likely have a more comprehensive plan, with several contributors providing input. The benefits include
As we start to better understand the new ‘business as usual’ operating landscape and the initial urgency around business disruption dissipates, practice owners should shift focus to ensure they have the right strategies in place for the medium to longer term. By taking full advantage of the options
The Covid-19 pandemic will likely change the way we do business for a long time to come. For most businesses’ turnover is down and owners are having to deal with an environment that is constantly changing, affecting inventory requirements (especially those reliant on imports) and staffing capacity.
Ultimately, business and exit planning isn’t just about money. This is particularly true for the owner operated businesses common among optometry practices. A well thought-out exit strategy will allow owners to ensure their legacy can survive; in terms of the business’ ongoing success and their own
Prepping for the end of the financial year is about as mundane a task as a business can perform. Or, at least, the old way was.
In our experience, we find many businesses rate strategy as hugely important but don’t have the time, skills or knowledge to implement meaningful strategy in their own businesses. This often stems from business owners being subject to the ‘tyranny of urgent’ – meaning everyday tasks often take prece
Many small business owners in the optical sector assume that company boards are for the big boys, yet the benefits of independent directors or advisors apply to all businesses, irrespective of size or
