A good credit profile acts as the foundations for your finance strategy. But what can you do to build and nurture a good credit profile and business credit score?

When economic times are tough, it helps to be in control of your cash flow. We explain how to improve your cash flow – and how this helps you run your business through tough times.

Last month was Mental Health Awareness week. Being a business owner can be stressful. When the buck stops with you, it can be easy to let the pressure mount up and to discount your own wellbeing. Looking after your mental health is as important as looking after your balance sheet. That’s the reality. So, having an improved focus on rest, wellbeing and talking about your struggles is a big part of moving towards becoming a better business leader. Here are some examples:  Don't overwork yourself – it's tempting to work every hour that's available in an attempt to meet your goals. But working yourself into the ground is, ultimately, a destructive thing to do. If you're tired and burnt out then you're in no position to lead the company. Try to stick to set working hours and avoid working 60-hour weeks wherever possible. Sleep, rest, and downtime are vital. Schedule time for non-work-related activities – make sure you have time blocked out for things that aren't work. That might be a walk in the countryside, time with your kids, or a game of tennis. The aim is to take yourself away from the stresses of the business and to give yourself a broader life outside the company. It's a chance to have fun, to relax, or to be someone who isn't just 'the boss'. Take up an activity that promotes wellbeing – there are plenty of pastimes that can help you bring down your anxiety levels and bring you to a calmer place. Yoga is a good way to stay fit, but also an excellent form of relaxation. Equally, finding time for meditation helps you to empty your mind of business concerns and allows you to become more grounded and calmer. Even something as traditional as a fishing trip could help you to chill out and relax away from a screen. Talk about your worries, concerns, and anxieties – if business-related stress is building up, the worst thing you can do is keep it all bottled up. It's beneficial to open up and talk about these issues. This could be with a partner, a fellow entrepreneur, your accountant, or even a professional counsellor. Be transparent about your state of mind and you’ll find people are more than willing to listen, understand, and offer some support. Finally, as accountants and advisers, we’re in a good position to help when you need someone to open up to about your business concerns.

About the standards. The healthy homes standards, which became law on 1 July 2019, introduced minimum standards for heating, insulation, ventilation, moisture ingress and drainage, and draught stopping in rental properties. Landlords are responsible for ensuring their properties meet the standards and continue to do so over time. When you need to meet the standards. All rental properties will need to comply with the healthy homes standards by 1 July 2025. You must make sure that your rental meets the standards within certain time frames. The time frame depends on what type of tenancy it is, or when a new tenancy starts or is renewed. What happens if you don’t meet the standards.  Landlords who don't meet their obligations under the healthy homes standards are in breach of the Residential Tenancies Act 1986 – and may face consequences, like financial penalties. What to include in the tenancy agreement. New or renewed tenancy agreements must include a signed statement with details of the property’s current level of compliance with the standards. What records to keep. Landlords must keep all records and documents that show how they are complying with the healthy homes standards. These must be made available on request – for example, to the Tenancy Tribunal, or the Tenancy Compliance and Investigations team. Landlords are committing an unlawful act if they don’t supply the records within 10 working days of a request, and do not have a reasonable excuse. Tenants can also request information about compliance with the healthy homes standards. Landlords must provide this information to tenants within 21 days.

Are you renting accommodation from your home, through Airbnb or some other way? For tax purposes, short-stay or holiday accommodation is treated differently from accommodation provided to tenants, boarders, or care home residents, or from student or emergency accommodation. A short stay is anything up to four consecutive weeks. The tax rules are different depending on whether you’re hosting guests in your own home, or on a separate property at your place, such as a sleepout, or at your holiday home or bach.  If you host guests in your own home, whether in one or more rooms, or the whole home, income from it is taxable. You can claim deductions for costs related to the rental. If you do, Inland Revenue will want to know that you are only claiming for costs related to the rental and not for costs incurred because of your own household use.

As the owner of a family farm, you’re not just running a business - you’re responsible for the future of the family’s legacy, and the financial security of your nearest and dearest. You’re also the custodian of the land, livestock, and environment that makes up your land. So, do you have a plan in place for handing over this vital asset when you choose to retire? With the average age of Kiwi farmers now at 58 years old, it’s important to think about succession planning and how the farm will be passed on to the next generation. With the demands of running and operating the farm at the forefront of your mind, it can be a challenge to find time to work on the business, and to outline your future plans as a family. But having a succession plan is a critical part of your farm strategy and planning. We’ve outlined five key areas you should have on your radar when it comes to getting a clear, workable, and effective succession plan in place. Family dynamics Sit down regularly to talk through the family’s plans for the farm, and the careers and aspirations of each family member that works in the business. This means addressing those all-important family relationships, expectations, and facing any potential conflicts head-on to ensure a smooth transition. Business valuation The farm is a critical business asset, so it’s important to get an accurate valuation of the whole business. This allows you to determine a fair and equitable transfer price to your successor, or to have a fair market price when selling up. Financial planning  The business you hand on needs to be financially viable, while also providing for your own retirement. You’ll need a comprehensive financial plan to cover retirement expenses, estate taxes, and potential debt restructuring. Legal and tax implications Partnering with legal and tax advisers helps you avoid any major problems further down the line. Work with your advisers to understand the implications of different succession strategies and the impact they will have for you, your successor, your family, and the business as a whole. Retirement planning Develop a retirement plan for yourself and the current generation of family members. This means assessing your lifestyle considerations, personal retirement goals, and the financial stability you and your family will need once you step back from the farm and ownership of the business. If you need help, we’d love to talk to you about developing a succession plan for your farm and setting the best possible foundations. Succession planning should be at the top of your to-do list.

The 2025 New Zealand Budget has introduced a significant incentive aimed at boosting business investment: a 20% immediate deduction on capital spending . This measure is set to provide a timely advantage for small businesses and primary producers—particularly farmers who have enjoyed strong payout seasons in recent years. For both groups, the combination of higher returns, aging equipment, and the need to stay competitive has created the perfect conditions to reinvest. Under the new policy, eligible capital expenditure can be immediately reduced by 20% for tax purposes, with the remainder depreciated over time. This not only improves cash flow in the short term but also provides a strong incentive to accelerate long-needed upgrades. Whether it’s new machinery, technology systems, infrastructure, or specialist equipment, the opportunity to reduce taxable income while modernising operations is likely to resonate with businesses across New Zealand. The timing couldn’t be better. With Fieldays coming up in June in Hamilton , many businesses and farmers will be engaging with suppliers, exploring the latest products, and making purchasing decisions. This new tax deduction could make those investments significantly more attractive—and more affordable. With the agriculture sector under pressure to maintain productivity and meet rising environmental standards, and small businesses looking for ways to scale or modernise, this policy could also help fast-track the adoption of more efficient, sustainable technologies. In practical terms, a $200,000 investment in new equipment could reduce taxable income by $40,000 under the new scheme—a substantial financial incentive for those considering capital purchases. For both small business owners and farmers, 2025 may be the ideal time to act.

Business confidence is a key economic indicator, and right now in New Zealand, the latest data is showing some positive signs: Signs of recovery – After a slow period, economic activity has started to pick up with early signs of renewed business momentum. Cautious optimism – Business confidence is improving, but caution lingers as companies navigate costs, demand, and future economic uncertainty. Global uncertainty – While domestic trends are improving, global trade tensions and price volatility could still impact supply chains, costs, and long-term stability. Use the current business confidence to your advantage In any economic environment, the key is to adapt and adjust to protect and future-proof your business: Consider your growth strategy. If confidence continues to rise, now could be a good time to expand your operations, invest in new equipment, or explore new revenue streams. Hiring and workforce planning. Business optimism often fuels recruitment and team expansion. Confidence is on firmer ground, but uncertainty remains. If hiring, focus on roles that support long-term growth. If caution is needed, consider upskilling existing staff instead. Market positioning. Shifting confidence levels can change customer spending habits. Are there opportunities to refine your pricing, enhance your marketing efforts, or introduce premium services that align with shifting demands? Financing decisions. If borrowing costs continue to ease, consider refinancing loans at a lower rate or securing funds for expansion—just make sure you weigh affordability before taking on new debt. Understanding the current business climate is key to making informed financial decisions. Want tailored insights for your industry? We’re here to help.

At Diprose Miller, we work with a diverse range of clients and industries—but when it comes to agribusiness, we bring a depth of expertise that truly sets us apart. Our team includes professionals with strong backgrounds in the sector, allowing us to bring together a cross-functional group focused on providing tailored support for agribusiness clients. By working seamlessly together and sharing knowledge, we deliver practical, forward-thinking solutions that meet the unique needs of rural businesses. We're proud to offer exceptional service built on collaboration, industry insight, and a genuine understanding of the challenges and opportunities in agribusiness. Why Agribusiness is Unique Agribusiness is unlike any other sector. It demands specialised knowledge in areas like banking requirements, tax compliance, market trends, and risk management. There are specific challenges unique to this field, and having professionals working in agribusiness every day gives us the insight and expertise to truly support our clients. My family has vested and lifetime interest in this industry, which adds another level of understanding and connection throughout the ever-changing seasons. Whether it’s navigating regulations or planning for future growth, our experienced team is here to help agribusinesses thrive. A Fun Side to the Team It’s not all hard work and no play! One of my favourite Diprose Miller team traditions is our Secret Santa gift exchange. I’ll never forget being the first “newbie” to receive a less-than-ideal present—an ongoing joke that continues to bring laughter to our team even now. Moments like these remind me how much I enjoy being part of such a fun and close-knit group. At Diprose Miller, we’re passionate about helping agribusinesses succeed. If you’d like to learn more about how we can support your business, feel free to reach out.