February 24, 2024

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New Zealand launches online tool to benefit small business owners

New Zealand launches online tool to benefit small business owners

Small Business Minister Stuart Nash launched a new online tool that will help small business owners to choose their business structure quickly and quite easily.

According to the report released by the New Zealand Government, Choose Business Structure takes an all-inclusive view of the various obligations and considerations businesses will face such as tax, ACC, financial statements, and indemnity insurance.

Minister Nash explained that most of the businesses in New Zealand are sole traders, companies, or partnerships. It can be intimidating sometimes or even confusing to decide which structure works best for the business.

He furthered that each kind of New Zealand business structure has different legal and financial obligations which may affect the ability of a business to evolve or to grow. This is why it is important for businesses to get it right the first time they do it.

The NZ Government is deeply committed in helping the country’s small businesses to success, so it is very important that they know where to get support from the very start.

Choose Business Structure is an online tool developed by business.govt.nz. The new tool asks business owners three quick questions that will help figure out which among sole trader, partnership or company structure is likely to be more suited to their business.

Choose Business Structure was developed in collaboration with the Companies Office, New Zealand Business Number (NZBN), Inland Revenue, ACC, and the private sector.

The tool is very helpful to business owners as it also offers more practical tips, comparison tables and even suggests when a business owner should talk with experts. It allows for information to be gathered in one place, making it easier for small business owners to check and make decisions with confidence.

For those who are already in business, the tool is also useful as it is a good way to check if the business is operating under the right structure.

Minister Nash added that there are more structures available such as trusts, unlimited liability companies, and co-operatives. He encouraged business owners to check and try the new tool. They should also explore other resources that are available from the Ministry of Business, Innovation and Employment (MBIE).

A new suite of tools was designed by business.govt.nz. Choose Business Structure is a part of the suite which helps business with guidance personalised to their individual needs.

The tool follows the launch of a revamped ONECheck in May, which allows potential business owners to check if the business name, web domain, trade mark and social media usernames are available. It is now being searched almost 2,000 times a day.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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