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5 Steps To Protect Your Profit

With the recent well publicized failures of companies such as Ebert Construction and Maven Interiors, and the increasingly vocal murmurs of an impending economic downturn, it seems to be becoming even more difficult to protect business profits by ensuring customers pay what they owe and on time. Every business person knows that it is an...
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Insolvency Update

In May of this year BizEnhanz started a weekly Insolvency newsletter called, rather imaginatively I thought, the “Insolvency Round-up”. The idea behind this is to give business owners and other interested parties a summary of the insolvencies announce in the prior week so that, if you trade with a reported insolvent business, you can try...
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How Can I Lose It If It’s Mine?

Perhaps the biggest impact of the Personal Property Securities Act (“PPSA”) on New Zealand businesses is that the concept of title has changed. It is no longer safe to assume that just because some goods are yours and haven’t yet been paid for by a customer that they will automatically be returned to you in...
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Is The PPSA Just a Case of WTF?

The PPSA (or Personal Property Securities Act) was introduced into New Zealand in 2002 as the most wide-ranging and fundamental change to securities law perhaps ever undertaken. Given that most businesses rely on some form of security as a financial risk mitigation, whether that be through guarantees, fixed charges or retentions of title, you would...
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Trust Me, I’m Good For It

I was having a couple of quiet ones with my mate down the pub the other Friday. As I came back from the bar I noticed a rather smug grin had permeated his usually serious expression. Thinking I’d just bought a round out of turn I asked why he was looking so pleased with himself....
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From Carpets To Credit

I was having a discussion with a good friend of mine the other week about carpets. The fact that I managed to turn this into a conversation around credit may indicate that I need to get out more, but the story my friend related to me about an acquaintance of his actually got me thinking...
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The Calm Before The Storm

Living in New Zealand means living with earthquakes. Impossible to predict, sudden in appearance and when a large one occurs devastation usually follows. If there is a positive note to an earthquake it is that the pressure that has been building in the fault is released generally giving a period of respite, albeit with aftershocks,...
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Risk Mitigation versus Risk Elimination

Risk is all around us. Each day we have to cope with the challenges of confronting everyday risks when going about our lives. Some people are keen to take on more risk than others, but it is impossible to avoid coming face to face with risk entirely. Without necessarily realising it we are also quite...
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Predicting Business Failure

Wouldn't it be great if you could just enter some simple financial data into a mathematical formula and the answer told us whether or not a company was heading for insolvency? Well that question has been considered by financial academics and practitioners for over 50 years and the outcome is that there is such a...
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Selling on Credit? 5 Things You Must Do Now

For a lot of businesses the sale is complete once the order is fulfilled. It seems a bit of a cliché to say that a sale is not completed until the money has been paid but it is nonetheless true, and this is still an area where most businesses could do better - far too...
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Carillion Collapse – Lessons for NZ Businesses

Carillion, the UK construction company, can trace its roots back over 100 years but that was of little help when it finally ran out of cash and collapsed in January. What makes this insolvency newsworthy is its sheer size - 48,000 jobs at risk, 30,000 small business suppliers not getting paid and creditor losses of...
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What is a Credit Score?

With the launch in 2017 of Dun & Bradstreet's Credit Simple product, personal credit scores have become a bit more mainstream. Indeed there will be now be a fair number of people in NZ who have at least viewed their credit score at some point even if they can't quite remember what it was. But...
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The Perils of Being an Unsecured Creditor

Most businesses trade with their customers as an unsecured trade creditor. And on a day to day basis there is nothing wrong with that - until your customer enters insolvency...and then it can matter a great deal. Before we get on to the options about strengthening your unsecured status, let's take a look at why...
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New Year Resolutions

It’s that time of year when we traditionally make commitments to better ourselves in some way. Most common themes are giving up something for health, e.g. smoking or alcohol, or starting something, e.g. going to the gym, regular morning walks etc. Other resolution themes can include helping others or giving time and/or money to a...
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