EOFY - End of Financial Year 2009-2010

Submitted by keveritt on Thu, 11/03/2010 - 8:44am

Nga mihi nui ki a koutou
Manaaki Solutions Limited like most other businesses are arriving at the EOFY [End of Financial Year]. So what does that mean?

Well it means that we get to finish our financial year 2009-2010 and begin a new year starting 1st of April 2010. Consider the excitement and hype on the 1st of January, everyone with fireworks and family fun, yip that's what the 1st of April can be for businesses.

The financial guantlet, otherwise known as the "recession", hit everyone and no-one escaped the tremors of the financial challenge. Some had to close the doors of their businesses. You just need to walk through shopping malls or down main streets of towns and see the shops that were once there, but are no longer.

Equally, you can engage in discussions with family members and they will share with you their own stories of financial hardship and challenge.

Just yesterday in the NZ Herald our Minister of Education said that she will be doing a review of how the Ministry can work more effeciently - she may be cutting jobs. And that was only yesterday.

So yes, we are all still experiencing the "financial tremor".

BUT, I have some advice for other business operators;

1. EOFY means also a BOFY a Beginning of Financial Year. You get to begin a NEW financial year as at the 1st of April. So between now and the 1st of April pull all your financials together, and ensure you have everything ready to give to your accountant to close off your 2009-2010 financial period. This makes it so much easier for your accountant.
2. If you havent already, then begin it now and assess what needs to be "reworked" to really WORK as soon as you hit 1st of April. This is inclusive of your financial budget for 2010 and financial plans for growth.
3. Business is Business and it can be so exciting. Business polls and surveys have been saying we are out of the recession and this maybe true. But it means that as businesses we have to really WORK to make it happen. So my final suggestion is;
4. Enjoy your business and MAKE IT HAPPEN.................

We here at MSL have a host of exciting things beginning on the 1st of April, so watch this space.
Much aroha to everyone from the Manaaki Solutions Limited whanau.