In the depths of the boom/bust cycle that started with Covid, businesses are doing it tougher than they have for years.

Every business owner starts out with dreams of success and wealth. Unfortunately, it’s not as easy as it seems and many businesses run into trouble at some stage in their life cycle.

Even profitable and viable companies can find themselves unable to pay their creditors. This can be due to a variety of reasons, such as the failure of a major customer, unprofitable contracts, employee theft, lengthy litigation and, unfortunately, a pandemic or extreme weather events.

We speak to Philip Macey of our Taranaki office about the use of Statutory Demands to recover debt and their role in liquidations…

If times are tough, would you recognise when your business needs external help? Here, we highlight why businesses fail, the warning signs and the options when recovery is becoming tenuous or impossible.

There aren’t a lot of successful voluntary administrations when New Zealand businesses are struggling, but occasionally one of them lives to fight another day. One such business – StretchSense, came under the guidance of Baker Tilly Staples Rodway.

It’s been a lean couple of years for some amid COVID-19 restrictions, geopolitical issues and rising inflation and interest rates, but we can help if your business is faltering.

The building and construction sector has come under significant pressure in recent times. Auckland associate director Asheel Bharos looks at the statistics and challenges, and how those in the industry can help safeguard their business.

The Business Finance Guarantee Scheme was effective from 1 April, introduced in response to the COVID-19 economic downturn. While great in theory, when you delve into the detail, it's less useful than might first appear.

Andrew Sayers recently joined Baker Tilly Staples Rodway Waikato. In a former role Andrew was Managing Partner and International Liaison Partner of a large Australasian accounting firm.

As we all know, there is significant global economic uncertainty as countries deal with COVID-19, and the steps taken to control it. Most countries are expecting to enter recession, if they are not in one already.

Many businesses are facing unprecedented times and have been forced to consider if they can continue to operate in the same manner as before.