Business Owners Forum

Shareholder Current Accounts

Thanks to everyone who joined us at the Business Owners Forum this week with Stuart Spicer, Geoff Griggs and myself on the panel. Feedback has been great. There was plenty of quality discussion around shareholder current accounts – and how to make sure they are tax efficient, protected from creditors – and equitable between shareholders.

The Business Owners Forum is a means for business owners to get together for quality discussion around a relevant topic with a panel knowledgeable on the subject. Format is casual over pizza, beer and wine. The supporters are ElevateCA Limited, The Bottom Line Expense Reduction, BNZ, Webb Ross and The ICEHOUSE – and the ethos of the supporters is to keep the forum free from sales.

Business Owners Forums are held monthly – and alternate between Auckland and Whangarei.

The September Business Owners Forum will be held at The ICEHOUSE in the Textile Centre, Parnell, Auckland on 17 September from 6:00pm to 7:30pm. The topic will be “Cashflow”, and the panel of three will consist of Michael Masterson, a senior BNZ banker and myself.

Entry is limited to business owners, and is by invitation. There is no charge.

The October Business Owners Forum will be back to Whangarei in the ElevateCA Limited offices on 15 October from 5:30pm to 7:00pm. The topic will be current employment issues – and an expert panel will be assembled for the session.

The forum is tailored to owners of businesses turning over $1m and upward – so if you fall into that categoty and would like to be included on the invite list, contact me. In a nutshell, the Business Owners Forum is all about quality discussion with no sales.

Oh, and enjoying a beer or wine and pizza with peers.

Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.

Business Owners Forum – Auckland & Whangarei

The August Business Owners’ Forum will be held on Thursday 20 August from 5:30pm to 7:00pm at level 4, 35 Robert Street, Whangarei. The Business Owners’ Forum is for Business Owners to meet and discuss issues of interest and relevance with a panel of experts – and without a sell from the supporters.

This month’s topic is “The mechanics, pros and cons of financing your company through the shareholders’ current account” – and the panel will be Stuart Spicer from Webb Ross, Geoff Grigg from BNZ Whangarei and Fraser Hurrell from Elevate CA.

The topic is big, and here are some details of what will be discussed:

Tax treatment where shareholders finance their company through their current accounts;
Structures to ensure maximum tax deductibility;
Issues around unequal current accounts where there are multiple shareholders;
Protection of shareholders’ interests in their company through means such as GSAs;
How to deal with other parties conflicting claims over the company’s assets;
isuues around cross-collateralisation;
Potential issues should the company fail;
Options around financing the company through the current account from the point of view of the bank and ways this can be structured.

Format will be a casual panel discussion over beer, wine and pizza. For more info, email forum@businessownersforum.net.nz.

The Business Owners’ Forum is held on the third Thursday of every month alternating between Auckland and Whangarei, and is supported by The Bottom Line Expense Reduction, The IceHouse, Webb Ross, Elevate CA and the BNZ. The forum is targeted to owners of businesses turning over $1million or more.

Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.

Managing Cashflow

This evening the first Business Owners’ Forum was hosted at Elevate CA Limited – thank you to the 40 or so business owners who participated in the session and made this a great start to what will become a regular event. Subject matter tonight was “Managing Cashflow” – a rather relevant topic in today’s cash-strapped business environment.

The event covered practical tips and techniques and the indicators that every business owner should be monitoring in this current environment – as well as some useful insights on what banks are looking for and watching at the moment.

On the panel this evening was Michael Masterson – Director of The Bottom Line Expense Reduction Limited, Geoff Griggs – Business Partner at the BNZ Whangarei and myself – one of three Directors at Elevate CA Chartered Accountants. But discussion was mostly driven from the participants rather than the panel, which was exactly what Business Owners Forums are all about.

Format was casual over pizza, beer and wine – and this worked well, so we’ll continue in the same vein for future Business Owners’ Forums. We’d like to drive future subject matter to suit participants, so we’ll be in contact with everyone who attended tonight’s session over the next week to seek your input for future topics of interest.

We’ll talk soon …

Fraser Hurrell is one of three directors of Elevate CA Limited, Chartered Accountants & Business Advisors in Whangarei, New Zealand.

Why Business Owners Forums are Free

Business Owners Forums are supported by Elevate CA, The Bottom Line Expense Reduction, BNZ and Webb Ross – all of whom are keen to give back to the business communities that allow them to flourish. Providing a way to upskill the business community – and an environment where skills and knowledge can be shared amongst peers – is a great way to give back to the communities that support us.

In line with this ethos, Business Owners Forum events are always free of charge to business owners – and there is never a sell from Elevate CA or any of the other supporters.

These events are a way for business owners to engage in quality discussion on the topic of the day in a casual environment over beer, wine and pizza. There is always a different panel of professionals knowledgeable on the subject to keep discussions and the flow of ideas rolling along quickly. These events are never dull!

So how do you get involved?

Just contact Fraser Hurrell and ask to be put on the e-mail list – and you’ll be kept fully informed of upcoming events and suggested topics. We don’t spam – and you can unsubscribe automatically from the list any time at the click of the link at the bottom of every Business Owners Forum e-mail.

What is the Business Owners Forum?

Business Owners Forums are a structure for business owners to meet with peers and discuss topics of relevance in an environment free of the “sales” motive that often comes with business events. Format is casual, normally with a panel of three professionals skilled in the particular topic of the day. Lively, quality discussion is the norm rather than the more usual “seminar” format with a room full of attendees listening to presentations from the front. These events are as much about the participants as they are about the presenters.

Business Owners Forums are targeted to owners of businesses with turnovers of $1 million plus per annum. This is so topics and discussion can be targeted accurately, and so those attending can be sure the room won’t be full of folk trying to sell to them.

Topics are decided by consensus at least a month before each event. Usually a list of options put forward are circulated around the e-mail list – and then we make the next event happen, with the most popular topic based on the level of enthusiasm from the responses.

These events are held monthly – alternating between Auckland and Whangarei venues, typically on the third Thursday of each month. The date schedule will change a little over the Christmas period to avoid the holiday exodus. Timing is from 5:30pm to 7:00pm – and the supporters put on the beer, wine and pizza to lubricate discussion.

Business Owners Forums are supported by ElevateCA, The Bottom Line Expense Reduction, BNZ and Webb Ross Lawyers – and the panelists are drawn from the ranks of these supporters, as well as other organisations.

The ethos and motivation of the supporters is to give back to the business communities that allow these five organisations to exist. Providing a way to upskill the business community – and an environment where skills and knowledge can be shared amongst peers – is a great way for us to give back.

In line with this ethos, Business Owners Forums are always free of charge to business owners.

So how do you get involved?

Just contact Fraser Hurrell and ask to be put on the email list – and you’ll be kept fully informed of upcoming events and suggested topics. We don’t spam – and you can unsubscribe automatically from the list any time at the click of a link.