More information that you may need: Business Mentors v Coaches and some options: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yTQE0KNBJxU.html Limited Liability Company Explained: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-kKE_JKVfPA0.html Sole Trader Explained: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-XyLN-YB8G1E.html How to Write a Business Plan: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T0htUEUlwlI.html
This is the video I've been looking for. I'm a 40 year old building apprentice about to become qualified and have been given it a lot of thought about going out by myself. Videos like this make those thoughts a lot less daunting. Thank you!
I'm so glad I found you. I'm a new subscriber and I've been thinking about starting my own business. Thank you so much for taking the time to make this fantastic video and sharing your knowledge with us.
Hi Peter thanks for this video. Im wanting to start my own plumbing business and am too based in auckland. Im trying to gather as much info and plan it out now. Your advise in this video was very helpful. I'll be watching your other videos to futher my knowledge in starting my business. Thanks again.
Thanks for the compliment, and the watch. I do know a good business coach specialising in tradies, so if you want to talk to some-one, just let me know.
Thanks for the compliment. There was a recent comment out of USA: When asked, retirees biggest regret was not doing something and looking back thinking "what if.." Plan and research, do your homework. Good luck.
Kiaora Peter. Great video bro. This helps when you know nothing about business and want to start. Huge help. Keep the awesome content coming. New subscriber for sure.
Thanks for the sub, its much appreciated. Glad I can help. You've got to start somewhere, so doing what you are doing is the way to go. Lots of research will help you make correct decisions. Good luck with the business you want to start.
In Sweden it’s 2 forms to fill out and about 200 NZD for the fees and that’s about it, way easier then it is in New Zealand. But we pay way more in cooperate and income taxes here, but university and health care is for free..
Hi, You can be a Sole Trader with no paperwork, other than the annual tax returns, and there is no charge to set up. Forming a company is under NZ$100 with an online registration to complete. Every system has its pros and cons, and ours works for us, like yours does for you!
Hi , I am currently running a tree (arborist and firewood/mulch business in a small community. I have little time to learn on my feet the administrative side of the bussiness, as i am usually on site climbing or quoting potential and existing customers and I need help in the running of my limited business . i am sourcing someone in their expertise to oversee finances and bookkeeping. I have 2 employees under paye, and 3 subcontractors, plus myself too. Can you please suggest my best plan of action and in the direction of someone able and competent in building my business plan. a business mentor also to help walk with me through restructuring the day to day agenda to create a profiting growing business. also the path to I need to take, to being approved in receiving any personal/business/first homeloan/etc that is low risk, where would one source guidance in making this possible. thank you for any support and educating advice or links you can provide for me, My business is local on waiheke island, near Auckland CBD, with a small competitive opponents. thank yoyu, you're a champ. cheers
Hi, Waikeke is a beautiful place. The easiest option with the finances side of the business would be to find a reputable book-keeper. They can take the day to day financial stuff off your hands, pay bills, bank reconciliation, wages, PAYE etc. Depending on what you want them to do, they can be much more cost effective than employing some-one full-time or using your accountant. My clients have used: David at www.thebookkeeper.co.nz/ or Trish at www.accountsolutions.co.nz/ Tell them I sent you. Have a good talk with them. Ask questions. Be very sure of the services they offer, the cost, and how that will suit your requirements. For a business plan overview, check out my video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-T0htUEUlwlI.html For a business mentor, check out my video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yTQE0KNBJxU.html it will give you a couple of mentor options. If you are wanting a Coach, let me know and I'll give you some names. Either a coach or a mentor will help you with bus plan, direction, restructure, growth etc. As above, be very sure of what you want, the cost, and be sure they can deliver. Ask for testimonials, references etc. For a business loan, I would suggest a good business finance broker. I have a video coming out on Monday 1 Feb about loan applications. I just need to finish it. Clients of mine have used Melanie at facebook.com/meljonesRFA/ Tell her I sent you. Good luck, I wish you well. Peter.
Hi Peter, very informative clips. I appreciate you completing them. Brief context: after several years of training to become a registered psychologist, I am now looking to start private practice and specialising in trauma work. Q. Please can you recommend an accountant and solicitor in the Botany area (South East Auckland), given I want to open an LLC structure (I think!) and understand when I can start putting expenses against my practice (I have travel costs and ongoing training costs starting this month). I look forward to your reply.
The following are those that people have spoken well about. I have not personally used them, but I have had recommendations and comments from others on their skills etc. All are Auckland based. If you speak with them, tell them I sent you. Remember to ask questions and make sure that you are happy with the type of work and service they can provide. Accountant: Kirit Lal. wwauckland.co.nz/ Carl Sowter: marleyloft.co.nz/ Michael Tobeck: mc2ca.co.nz/ Lawyer: Leigh Judd. pidgeonjudd.co.nz/ Lisa Meyer. finance-law.co.nz/ Let me know how you get on.
Thank you for the video Peter. I want to open a social media online presence based on influencing and making online content in the realm of philosophy, theology mainly but also sociological concepts like dating, gender dynamics, politics and culture. I also want to make money from online ad revenue, merchandise sales and donations. Should I register as a non profit organization, a LLC or sole trader?
You will need to speak to some-one more knowledgeable than me about non-profit org, and the qualifying steps etc. Your tax advisor should be able to help. The usual path is to start as a sole trader and step up to an LLC when your business grows. Often GST registration will prompt a move to LLC. But this does depend on your own personal circumstances regarding other income etc, so back to your tax adviser to sort out what is best for your situation.
Thanks so much for the great videos! Very informative and helpful. You mentioned knowing some good business advisors. I'm right at the start of my journey of creating a startup, so would love to talk to someone who could help me with my strategy and business plan and then also next steps from there. Any suggestions would be much appreciated.
Im glad you like the videos. You could try John Francis at www.primestrategies.co.nz. he is a good mentor and trainer and will put you on the right track as regards plan etc. Tell him I sent you.
Thanks. Always good to know some-one watches and appreciates the content. BTW, I watched your Kaimanawa Wall video. I never knew about it. Its on my list to visit next time Im there.
Sir what a clear information , Sir just one question, can a international student start a startup or business in New Zealand 🇳🇿, And do you also provide a legal services for starting a new business.
Yes, an international student or foreigner not residing here can form an Limited Liability Company in NZ. My suggestion would be a quick check with an immigration consultant to ensure your visa allows you to do what you are wanting, and gives you the time frame to start, trade and then exit the business. Then speak to an accountant about the best trading structure from a tax perspective. Nope. Im not a lawyer and dont provide legal advice or services.
I am not a tax expert, so I cannot advise on set up or a tax position. I suggest you contact a reputable NZ based tax accountment and take their advice as to structure etc.
Hello Peter, awesome video, very informative. Quick question, how would one go about starting a clothing brand/business in NZ and with your educated experience and expertise, would it be worth it and possible? Thank you in advance.
Its no different to any other business type. Do your research into both the market and the products. Write a comprehensive business plan. In fact, pretty much everything I talk about in the Start a Business Playlist on this channel. There is no shortcut or magic bullet, just research, planning and then implementing the plan. Good luck.
Sure, make a plan, work out the costs. You have to make money (even if you give it away later), as you will need to invest in your business in order for it to thrive. The better organised you are, the more you can benefit those around you. I wish you well.
Hi, happy to hear and watch your detailed explanation on how to start a business. Just want to ask if I get NZBM, can I continue as a employee and work during extra hours of weekend as a contractor? Thank you
Yes. You can be employed (salary or wage) and a sole trader and/or company shareholder etc at the same time. Just make sure you keep very clear and separate records, bank accounts etc, for each activity.
Thanks! Your videos have been very helpful. Can you recommend how to find an accountant/ production manager for a new sub contractor in the construction industry? Cheers
Glad the vids have helped. Finding staff/subbies is always difficult. The best suggestion I can give you is do a search for employment agencies that specialise in your industry and talk to them. Its not something I come across regularly, so I dont have anyone I can recommend.
I want to start a farming business, selling fruit to super markets and having a farm shop where I can sell locally as well but I don't just want to sell fruit I want to sell eggs, and possibly animals, and some meat at the farm shop. The only thing I want to sell largely is fruit. How do I go about it?
Do your research about food safety, home-kill etc permit/licence requirements. Write a comprehensive business plan outlining what you want to do, how you will do it, budgets etc and then follow that plan. Good luck
Hi Peter, really happy i stumbled across your channel. I am just starting to work on my idea that i believe will revolutionize a segment of the logistics industry. It will be an online platform, and i have an interested party that can build the platform for me. What are your thoughts on bringing on this party as a stakeholder as opposed to paying upfront costs to build?
By bringing someone in as a stakeholder you are giving away future profits to pay for something now. This is great if that new stakeholder can provide ongoing and continuous value to the business. However, if its a matter of producing a product or service as a 1 time job, giving away a portion of the future value of the company might be an expensive way of doing it. Thanks for watching. I hope that helps.
Hi Peter! This is the first video I have watched of yours, I have subbed and liked. Thanks for the information. My question is, if you wanted to start an ecommerce store with handcrafted products you have already made and wanted to launch quickly, say before Christmas, where would you focus your attention most?
Thanks for watching, and the sub. Its appreciated. The short answer: Sales. Assuming you have the website/e-commerce platform set-up, concentrate on driving customers to your products. Look at your products, decide who your target market is, find out where those people are, and market to them. Early on in the business life, you will need to find a cost effective way to market to your customers. Dont market to build a brand, market to sell product. Aim for sales and make sure any promo you do results in sales. If sales arent coming. Stop the promo. Do something else. When you find stuff thats working (selling product), keep doing it. You should be looking at a specific outcome per $$ spent, then market accordingly. Social media is arguably the most cost efficient way to start. Check out Liv at www.sodadigital.co.nz or Anne at www.marketingminds.co.nz, both specialise in social media marketing and may be able to help. Tell them I sent you.
@@PeterNola Love this advice!! There is a lot of confusing and complicated information out here and it's easy to get caught in the creative processes but put simply like this, it makes so much sense!!! Thank you so much! I will follow up the places you mentioned. Kia Ora.
Do you need any legal documents to start a business? Any degrees? Are you required to have a degree to run a business in NZ? And what/where would you reccomend studying? Thank you!
No specific legal documents or qualifications needed. Obviously you will have to pay income tax and GST (if you are over the threshold) and this requires registration, but there are no other documents you need to start. If you want to be a LLC, then you will have to register your company etc. There are no requirements for a specific business qualification to start a business. Some businesses will need certain qualifications to operate. For example, you would need to be able to certify your work in some trades, but these are industry or occupation specific, not a general business qualification. As to study? As a starter, try law, accounting, economics, bus management, HR etc. Look for subjects that are of interest to you and are needed in business. From a quality perspective, ensure that where-ever you study, the qualification is widely respected like those of the main NZ universities (Auck, Waikato, Vic, Massey, Otago, Cant, etc) as these will give you flexibility later. if you have a business idea, go for it. Do your research, get advice from good mentors etc and take the first step. You can invest as little or as much (dollars and time) as you are comfortable with to start. If it grows, great. If not, understand why it didnt work and learn from it.
Hi Paul I'm looking at starting a business as a contractor with employees in Pokeno south of Bombay. I'm wanting to speak to an advisor on how I can get this operational
Hi, Check out ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yTQE0KNBJxU.html to help you decide the type of help you will need. It will have a link to mentor services. For a coach, try John Francis at www.primestrategies.co.nz
Hi Peter, I have an business idea which seems to meet the criterias you've mentioned in the video. But it is more like an improvement of something in a niche. Do you think it's wise to A) to begin making trial products, make a business plan and small trial run now in my last year before uni or B) wait until I've gotten through Uni, gotten a stable career and then start anything.
I think its always better to start now, rather than later. The way you have described your start-up plan is generally considered to be the right way. Good luck
I have a couple of years working as an eftpos technician and doing admin for a business i wanna go out on my own and sign up my own clients so i can then re-sell the contracts back to a bigger firm in the long term, my question is how would i get funding for buying say 100 eftpos terminals at $2500 each, my old work did pretty much the same thing and they were able to grow the company and sell it off to a larger company and make a profit, i guess the ultimate guestion is how do you scale a business when you have next to no capital?
There are a couple of ways. Firstly, why 100 terminals? Do you have a buyer for all 100? If not, just get funding for the terminals you need as you sell them. No point in committing a heap of $$$$ to stock without a sale. Both BNZ and KiwiBank will do invoice financing so when you make a sale, go to the bank, borrow the money against the invoice, buy the product and deliver it. Alternatively, go to the supplier and ask for credit based on the sales you have. Get them to sell you a terminal on credit as you sell to customers. As this grows, banks will see a proven business and be much happier to lend to you. Likewise the terminal supplier. If you are buying a heap of terminals each month, they will give you credit. The provider might also be an option. If they are willing to buy the contracts, they may be willing to fund the terminal purchase if you agree to sell the contract to them. Its a proven business model and it does work. Good luck.
These videos are fantastic! Question when setting up a small business is it essential to have an accountant or can I do it myself with good record keeping?
Essential? No. A very good idea? Yes. A good accountant or tax adviser knows how to get you the best result at GST/tax time. There is no reason to pay more than your share and advisers who have up to date knowledge in this area will save you money in the long run.
I want to start a computer business but I'm not a software developer or software engineer, I'm not even in university yet and don't have a degree either, is it possible for me to start it now?
Hello Peter, thanks for providing so much value in your video! I have a few questions, after registering my business, would it be best to open a business bank account next or wait till I make a sale and then seek an accountant. I am going into the e-commerce space so would you know any professional advisors in that area? Also how to look for a good accountant to look after the business side and another for rental property and income tax Thank you!
You will only need 1 accountant for your needs. Open a bank account and run all expenses and sales through it. Check out NZ Mentors, if detailed help is needed. Thanks for watching.
Hi . Amazing content. I m from India. How is to possible to start a management consulting BUSINESS in NZ? Please suggest ways to connect with people on the same boat through online so that I could talk to them before coming to NZ.
You could try the various networking groups in NZ, most have online networking portals. The 2 main ones are BNI and TNG (The Networking Group). You could also talk with www.businessmentors.org.nz/.
Hello Peter, Thank you for your videos I'm literally taking notes. I was hoping you could put me in touch with a mentor from the restaurant industry please.
Great compliment, and thanks for your support. There are a variety of business mentors to pick from. A good place to start is: www.businessmentors.org.nz/ Let me know how you get on.
Thanks for the sub. Its very much appreciated. How to write a business plan is probably a big enough topic for a couple of videos, there's an idea! It depends on why you need a plan. Is it for a loan application, or your own planning? In each case the plan would concentrate on different things. A plan for you will have targets, steps and tasks to do to achieve a certain goal for your business in a specific time frame. A plan for the bank would show payment ability, growth rates etc and would be in a cashflow format. Check out this link for a basic overview and some simple templates. www.business.govt.nz/getting-started/business-planning-tools-and-tips/how-to-write-a-business-plan/. I hope that helps.
Hi, Thank you Peter for this very informative video. Could you recommend an accountant in North Shore area? That could help in setting up a worldwide e-commerce store?
You will need to put together a business plan showing the operation, and its cash-flow and profitability to use in a funding application. Be sure to include how you intend to pay the loan back and the security you have. You will then need to speak to bankers, lenders venture capital providers etc. Find a business finance broker, not a mortgage broker, some-one who provided loans for business, and speak to them. I have made a video on family/crowd funding, so have a look at that. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-4xMwhtGmzjY.html
Thanks for the sub, much appreciated. I have been involved in the sale of medical practices, but my knowledge of starting up is minimal. Check out the business mentors at www.businessmentors.org.nz they might be able to help. Im sorry I cant be more helpful. I hope it goes well for you.
Yes, you can. You may run into problems when opening supplier accounts or leasing a premises as they will do credit checks. There are ways around this by paying cash or cash with order etc.
My first phone call would be to Nandos Head Office in New Zealand asking if the area is available., how much etc. If its not, you will have to buy the existing operator.
I no longer work as a consultant/coach for start-ups, so I am unable to help. Start with Business mentors NZ: www.businessmentors.org.nz Good luck with your business.
Hiii I’m a Srilankan entrepreneur planning to migrate to New Zealand so please guide me on to start up something new which can also create new jobs for international/local students
Sorry, I do not work as a consultant, so I am unable to advise on a specific project. I suggest you talk to an immigration consultant based here in NZ first, then speak with a business mentor who understands your industry. www.businessmentors.org.nz/
Initial investment will vary hugely depending on the location and size of the business. You will need to talk to commercial property leasing companies to research the rental and occupancy costs for the location you have chosen. You will then need to talk to shop-fitters who will fit-out the store with its shelves, at the same time contacting companies selling the equipment needed: chillers, POS, etc. You should find all the contacts you need via a google search of the services in Auckland. You may want to talk to a business consultant about managing the project and giving you help on the day to day running of the business. Im assuming you have already been in touch with immigration consultants and understand the visa requirements and have started that process. If you would rather purchase an existing business, you could check out this website: www.businessesforsale.co.nz/.
Do your research. Talk to people who know, people who understand business. Will you be subcontracting to the larger companies? Find out what type of subbie they look for. Is it cartage? Bobcat? Diggers? Labour hire? etc. You will then need to arrange funding for the equipment (if needed) and this will require business plans for the bank etc. I suggest you contact Business Mentors New Zealand: www.businessmentors.org.nz and talk to some-one who understand the industry and can point you in the right direction. Talk to experts. Find good finance broker, insurance broker, lawyer and accountant who can help with tax, structure, employment, contracts, funding etc. The more research you do before you start, the more prepared you will be and the less likely you will make a mistake. Go well.
Hi, you could try either of the following: Business Mentors New Zealand: www.businessmentors.org.nz Auckland Chamber Mentors: www.aucklandchamber.co.nz/programmes/chamber-mentors/
Hi. Thank you for your video. I'm on a farmlet midway between 2 towns and am interested in starting a homesteading type business selling a range of products. Hoping to build it up while working elsewhere. Not sure what my first step should be and whether to register for GST. Your advice would be appreciated. Thanks
Cheers for the watch. Check my video on registering for GST. Depending on where you are, freight cost may well be an issue. Rural delivery (and pickup) in NZ can add a premium to the charges, as Im sure you will know. Remember to include this cost in your calculations as your customers may not like the idea of a high freight charge. You dont need to register for GST until your revenue (sales) are over $60,000 in a year. You can start slow and as your revenue rises, you can register for GST. Given that you can claim GST on your raw material cost, it might be an advantage to register earlier. You would have to do some costings and budgets to see if this is so. There is no issue with starting as a sole trader and as the business grows, convert to an LLC and register for GST. Good luck, I wish you well.
Hi Peter. I am very new to starting up a new Limited company. I'm writing jingles and trying to sell them to clients. Do you have any names of (not so expensive) accountants I could use please? I'm in Epsom Auckland. Thank you in advance for any direction
You could try these: Kirit Lal at wwauckland.co.nz/our-people/ Carl Sowter at marleyloft.co.nz/about/carl-sowter/ Both are great and specialise in small businesses. Tell them I sent you. I love the name, good luck with your new business.
Hi, active wear is popular in NZ. Lots or people doing outdoor activities and gym etc, so probably a good market, although very competitive with a number of NZ brands and the usual overseas brands.
What do you think, if I want to start a tech startup? Is it possible to have a unicorn company in New Zealand, if eventually my company grows to that level? Please, I want to get your thoughts.
Thank you for the content! I've recently left my job at a marketing agency, for a part time job and have been approached by a few companies to do one off, and on going digital marketing aswell.... Which is exciting!! but i don't know what the best option for myself will be... sole trader (Is that the same thing as self employed..?) or company? I will be working from my home and need a vehicle and phone for meetings etc but wont have many other major costs. Is there any benefit to registering as a company at this point in time?
The answer is... it depends. A sole trader is OK for 1 person doing a job and charging accordingly. You can register for GST and have the benefits that gives and you are able to deduct your expenses, etc as well. You can always move into a LLC at a later date. The sole trader is a simple setup and as long as you keep a good set of accounts, it'll work fine. If you plan to grow the business, employ staff and build something with the view to selling it later, then an LLC is the way to go. Buyers will be able to do a check on the LLC as part of the sale process easily and simply and this aids the sale. Selling a sole trader can be done, but is more difficult as its harder to provide a clear view of the business. A good compromise might be to run as a sole trader until such time as you have proved it will work as a business and need to register for GST or are looking to expand, then change to an LLC. Each accountant will have their own view, so talk to yours and ask their opinion too.
Good job sir . Im an Indian and what kind of business I can start there in newzealnd . Im looking for some seosonal mango buyers in new zealand . How can I find them or what are the possible ways yo find mango buyers in new zealand
Start by doing some of the things in the video. Business plan, target market, pricing, etc etc. If you need more help, contact Business Mentors NZ and/or your accountant. Good luck.
Hi there!! I'm planing to set up a take away business in the coromandel! Would love some advice to start up with paper work and licensing! Would you be able to help me? Thanks
Good luck, I hope it goes well. There are a couple of vids on my channel about set up, LLC registration, GST etc. Im no longer a coach/mentor, so I suggest you contact Business Mentors NZ: www.businessmentors.org.nz and they can put you in touch with some-one who knows the industry and can advise you in detail.
Hi, Check out ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yTQE0KNBJxU.html to help you decide the type of help you will need. It will have a link to mentor services. For a coach, try John Francis at www.primestrategies.co.nz
Hey Peter, I am planning to create a small business with a friend, we are young aspiring seventeen year old entrepreneurs in need of mentor ship. Our business will provide advertisement services for local and online businesses. We will work towards becoming a larger full fledged advertisement company. To start off our company we are going to create viable ads (on Facebook ext), we are doing this to help gain early clients helping our reputation as we move forward as a company. Our ultimate goal is to create branded ads for well known companies and to purchase a studio with the necessary equipment to make this possible. We would also like to create trailers for festivals, films etc. Overall I would just like to get your opinion on this idea and possibly help give us some guidance and knowledge to begin a small business. Cheers.
Sounds like a great idea, and a good way to start. Video and social media advertising is the way forward for businesses wanting to get seen. Its less expensive and can reach a more targeted audience than TV, so its likely to be the future. You seem to have a good plan, start small and build your way to success. If you are Auckland based, then you should look at ATEED, which is an Auckland City Council initiative aimed at helping businesses start and grow. They have business mentors who will have experience in your business sector, and can also be a source of funding for courses and start-up ventures. Have a look around their website: www.aucklandnz.com. If you are not in Auckland, then google your local area and look for Chamber of Commerce groups, City Council business development and similar. Another good place to find a mentor in NZ is www.businessmentors.org.nz. Make sure the person you choose as a mentor fits with you and your goals and has the skills specific to your industry.
@@PeterNola Awesome, and yeah we live up by Dargaville (close to whangarei) ill make sure to take the advice into play. Thanks for the help we really appreciate any time spent trying to help us out as a small business. Have a good one!
Great tips. Thanks for the video, very informative. My wife is running her successful business in India of garments. She is running her own boutique and retailing of products as well. Now she is looking to start the services in NZL and want to bring some Indian articles and retailing of the same. She has a great experience of 20 years in the area of home furnishing, garments as well. Is there any opportunity that she can become an entrepreneur/ partner and share the services to NZ community. Thanks for help in advance.
Hi, Thanks for the compliment. Yes, she can operate a business in NZ. If she is looking to partner some-one locally, then she can do so. Its not an area that I have a great deal of expertise in. Maybe contact friends and family living here and ask if they know anyone to partner with. Sorry i cant be more help.
Thanks sir! I understand. If i talk about me, I have a good 20 years of experience in IT industry and serving as program manager in one the reputed multinational. Is there any change for me to apply for work visa or any other visa. Any avenue to move to NZL is fine.!appreciate Your response !
@@rohitmathur4440 Sorry, I am not knowledgably on immigration as its not something I deal with regularly. I suggest you do a google search and find a consultant based in New Zealand as they should be up to date on the current regulations.
Its not something I am familiar with. I do know of a couple of businesses that have successfully sourced product via alibaba.com, so you could try there as a start.
Thanks for the helpful video, Peter. Do you have someone you can recommend to help me figure out the logistics of starting up a business in NZ and to get through the Entrepreneur Visa process? For context, I've been running a business in the US for 3 years and I'd be doing the same thing, except in NZ. Thank you!
Hi, thanks for watching. Unfortunately, I cant help you. I have no contacts in the visa/immigration sector. I can only suggest you google to find some-one local here in NZ as they seem to be more up to date with the current requirements that the overseas based people.
Hi, I would like to know if it is possible to register a company in new zealand, where 75% of the shares are with the person overseas, and rest of the 25% shares with the nz-resident.?
Hi Peter! I live in Tauranga/ Hamilton and I am currently a University student studying Law and Business. I am very keen on starting my own business in homemade cosmetics by the end of this year and I has some inquiries regarding the legalities such as a company registration and if I need to do it if I am a sole trader. And also, are these all the legal works required to start your own business or will there be more factors which I would have to do before/after starting my at home business? Thank you!
Hi. Bay of Plenty is a beautiful part of the country. Check out a couple more vids on my channel about company and/or GST registration v's sole traders etc. Essentially, you can be a sole trader without any registration, and an LLC requires a simple registration. Thats all the paperwork and you're up and running. Given issues around allergies etc, it might be a good idea to have a commercial chemist/labs do a report on the products to show there are no issues with the ingredient mix etc. I do remember a small cosmetics company I was working with a number of years ago made sure all their product had been tested to Australian standards to ensure compliance. At the time the standard was voluntary, but you might want to check and see if its worth the time and cost. Simply put, you can have a product line, build a website and start selling. As you grow you can move from sole trader to LLC/GST registration etc. I have said this before, but find a good accountant and take their advice regarding registration, GST etc. There are many who will give you a free first hour to discuss what you need and how they can help, so that should be your starting point.
You should talk to an accountant or other business advisor to set yourself up correctly. Alway keep separate records for both your activities, personal and business. Separate bank accounts, too.
