Miller Associates :: Business Advisors :: Chartered Accountants :: Porirua City :: New Zealand

By: Miller Associates  06-Dec-2011



Do you have a great idea that you think you could turn into a business? Have you recently been made redundant and are considering starting your own business?

Statistics tell us that four out of five new business start-ups fail within the first two years.

Why do they fail?

  • Lack of planning
  • Lack of capital
  • No business experience
  • Poor or no promotion and advertising
  • Under-pricing
  • No attention to collecting money owed to the business
  • Not asking for advice before commencement

Before you start a business, it is imperative that you get some professional advice - this will not guarantee success, but it will make the odds of survival much greater.

Some of the issues that need to be discussed with a professional advisor include:

  • Business structure
  • Capital
  • How much, who is providing it
  • Which bank to use
  • Competition
  • Pricing
  • GST
  • Employees - PAYE and Kiwisaver obligations
  • Income tax requirements

A modest fee for professional advice prior to starting a business may well save you a whole heap of money further down the track.

Contact us to find out how we can help you.