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Payment Relief/Adjustment Plan Due to COVID-19

We know that the current situation has had a massive impact on most businesses. We are sure that you are experiencing problems getting invoices paid and now the inability to work will be having a massive impact on your cashflow. We hope that you are navigating your way through these issues and have explored the options available for govt assistance and bank/finance company payment holidays.To do our bit to help out we are going to change the way we handle payments as follows:Payments due in Full...

We hope you’re doing ok during this difficult time.

Like most other businesses in this country we are going through an extremely challenging time. This is unfortunately going to be very tough for many businesses in this country. Sadly there are many firms that will collapse leading to many job losses along the way.However, Bonded NZ as a business is well resourced and ready to weather the storm. We have built a strong business with good relationships. The people we deal with are the best in the game and we definitely do not want this carniva...

Migration rates to impact construction activity

The population growth of New Zealand has seen fluctuation in previous years as various factors impact migration. Officials are estimating that the impact of this on the level of population in New Zealand will be making itself more and more present as rates of immigration decline.Changes in the consideration of whether a newcomer to New Zealand is a short-term visitor or a migrant have likely had an impact on the fluctuation of these statistics, according to Statistics NZ. Following these bureauc...

Quick guide to General InsuranceNew post

General insurance is broadly defined as any insurance that is not life insurance. Some definitions include health insurance and some do not. For the purposes of this article, we will concentrate on protection against financial losses and protection for assets and valuables.General insurance is broadly defined as any insurance that is not life insurance. Some definitions include health insurance and some do not. For the purposes of this article, we will concentrate on protection against financial...

Port Hills Fires Hearing: The Importance of Liability Insurance

Many Kiwi businesses are underinsured when it comes to their liability to third parties. But, it could cost them dearly.What is liability insurance?Put simply, liability insurance protects your business from legal action as a result of third-party damage due to the actions of directors, employees or products.The importance of liability insurance for NZ business has been thrown into the spotlight by the Port Hill wildfires, which caused millions of dollars of damage in 2017. Nine weeks have now b...

Robust Construction Activity Expected to Continue in NZ

The National Construction Pipeline Report 2019 has recently been released and provides a forward view of national building and construction activity over the next six years, to the end of 2024.What’s the outlook for construction activity over the next few years?The overall headline is positive, with building volumes forecast to continue to grow at over $40 billion per year. Activity is expected to peak at $43 billion in 2021, with that year expected to see in the region of $26 billion of resid...

Proper financial planning includes having a valid Will

As humans, we naturally look to the future because, as someone once said, “that’s where we’re going to spend the rest of our lives”. The only problem is, none of us knows for sure what will happen in our future or even how long it will be.This is one of the key reasons why it’s so important to have as sound a financial plan as possible to help you deal with whatever your future may hold. It’s the reason why you might, for example, have a regular savings plan, or why you’re making r...

Construction company failures highlight the need for change

For quite some time, the construction industry in New Zealand has suffered high rates of business failure and insolvency, with businesses of all sizes operating across all sectors of the industry being affected.Some high-profile construction business failures this year, with the most recent being that of Ebert Construction going into receivership, leaving employees, subcontractors and people who bought apartments off-the-plan in their developments high and dry, have drawn further attention to th...

Auckland Transport Proposes 30km/h Speed Limit in Auckland CBD

The Auckland CBD has never been a place you want to spend your time driving. The amount of traffic lights on Queen Street alone is very off putting as it can take 10-20 minutes to simply drive the length of the street. That being said, there are a lot of people who need to get in and out of the city centre each day and whether that is by car, foot or public transport, it is important that everyone makes it to where they need to go safely. That is why Auckland Transport (AT) is proposing a 30km/h...

Shortage of engineers puts NZ construction industry at risk

The ever-increasing demand for housing, an economy that continues to perform relatively well, and the many promises of infrastructure spending emanating from the last election are all conspiring together to expose a labour shortage of epic proportions in the New Zealand construction industry.What’s so alarming is that it is estimated that over the next few years, the industry will have to contend with a shortfall of 50,000 construction workers. To make this situation even worse is the fact tha...

Why businesses should consider cyber risk insurance

The reliance that businesses have on technology is growing, and with it has the prominent field of cyber risk insurance. As the specialist business insurance broker of many New Zealand enterprises, Bonded Insurance has established relations with providers of cyber risk coverage.As our digital footprint grows, the risk of a commercial cyber-attack has gone from a question of if, to when. New Zealand businesses must continue to evolve with the global digital world, developing cybersecurity measure...

Are you on top of managing the risks facing your business?

What would happen in or to your business if a key member of staff should suddenly no longer be around? Would your business be able to carry on as normal or would you suddenly have a crisis on your hands?Small to medium-size enterprises in particular can be especially vulnerable to the loss of a key member of staff, and some may even be forced to shut down as a result. However, even large organisations can be left vulnerable if they should suddenly experience the loss of an employee who plays a v...

Bond Broker Eases Surety Burden

Auckland surety broker Bonded NZ has placed or is negotiating around $200 million in performance bonds since the company began business less than two years ago.Founder-director John Earwaker said major Australian contractors were among his biggest clients, seeking bonds for large infrastructure projects throughout Asia, the Middle East and within Australia.“We haven’t scratched the surface yet and we are now convincing New Zealand contractors that they don’t have to go to a bank and provid...