Business advice

How many businesses do not quite meet the mark on profitability?

There are certain key aspects to your business, with each business having its own individual key element or elements. There is no one rule for all but there are guiding principles.

Over the last 40 years Murray has assisted many business ventures with well thought and helpful advice.

Sometimes it is instructive, other times it is reassurance.

Professional Assistance

One of the keys in business and being successful in business is about having the right professionals about you. Professionals you can communicate with on a one to one to one basis, provide clear and understandable advice and who can interact with you. Too often we hear the comment, "I did not understand what was being said" or  "I was only told after the event that advantages were available," to "he/she is a nice person and I did not want to change". Do not sacrifice your business or be less profitable than you should be because of bad business decisions.

Business is about market awareness and profitability. Many businesses do not know if they are making money until accounts are prepared. This is wrong.

Business Warrant of Fitness

A second key element is what Murray calls a Business Warrant of Fitness. Often businesses get bogged down because their systems and procedures are not good, or they do not have the correct system or in fact any systems at all.


There are the legal aspects, we look at the appropriate legal entity for the business (for example, will you trade under your personal name or under company or partnership?).The governance documents for the business (such as a partnership agreement, company constitution or shareholders’ agreement).The appropriate directors and a shareholder if a company entity is used. The insurances for the business.


The Warrant of Fitness extends to Employment Contracts, their formatting and compliance with the Employment Relationships Act. Many businesses are non-compliant in this area or have agreements inadequately prepared. These often cause problems only at times of difficulty. Not many people understand that often your employees are your most valuable asset.

Leases and Occupancy of premises. These need to be checked and monitored, as certainty of a business's continued occupancy is critical for good planning. A move whether forced or voluntary, should not be a surprise but part of a planning process.

Health and Safety issues. Clients need to understand these issues. This is one area where directors are not able to avail themselves of limited liability. Correct procedures are essential.


Supply agreements, invoicing and collection are all part of this business warrant of fitness. Too often in today’s environment people do not understand their legal rights in terms of recovery of sums due and unfortunately  often debtors do understand what can and cannot happen in terms of recovery.

Management Systems

Murray can assist at the upper levels of mid-size businesses. Many businesses struggle where the owner, or management person, is also the best tradesman. It is horse for courses, and Builders should build not spend hours completing tasks like employment contracts, supply contract, building contracts and the like. We can assist at that top end by ensuring the correct systems are implemented and monitored to ensure this area of your business works well. It applies to all businesses whether trades or professionals.