How to protect your business in a recession

28 June 2023

Here are proactive steps you can take as a business owner to safeguard your business during a recession. In this post your we explore some valuable strategies and insights to help protect your business during a recession and how our Business Lawyers offer essential assistance.


Structure your business for resilience

How your business is set up is the first area you should review. The structure you ran with when you first established your business may not be the best option for you now. A company’s legal structure needs to be both robust and adaptable, and if it isn’t, the business is built on unstable foundations and open to creditor claims.


How our Christchurch Business Lawyers can help

Together we’ll explore the most suitable legal entity for your business. Changing legal entity can be a way to benefit from liability protection and carry tax advantages. Consulting with a law firm helps to navigate the complexities of business structures and select the best business structure for your unique circumstances.


Cashflow

Successful business owners needs to have a strong understanding on their cashflow and their business’ financial position. One way to increase your cashflow is by having terms and conditions of trade with your clients. This document will outline the work you do for them, what your responsibilities are, your fee, fee enforcement provision and disputes resolution options.


How our Christchurch Business Lawyers can help

Our experienced Christchurch Business Lawyers can help by drafting bespoke terms and conditions of trade. Bespoke terms can reduce the chances of any fee disputes and other disputes further down the track.


Review the commercial lease

Commercial leases typically represent a significant portion of a business’ expenditure, so during a recession and when the potential for revenue to be negatively impacted. It’s crucial to review and renegotiate commercial lease terms to minimise costs to regain financial stability. 


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How a Business Property Lawyer can help

By carefully examining the terms of your commercial property lease, a Business Property Lawyer identifies the opportunities available to you for renegotiation or lease restructuring while ensuring you remain compliant to legal obligations.  

 

Contract review and negotiation

Reviewing and renegotiating existing contracts with suppliers, vendors, and clients can be a strategic move during a recession so the contracts better align with your financial goals and limitations. For example, this can include revising payment terms, debt recovery and credit control procedures or modifying delivery schedules.


How a Contract Lawyer can help

A Contract Lawyer analyses the existing contracts the business is bound by to ensure the terms and conditions work to your advantage while maintaining the essential working relationships.


Contact us today for a free, confidential no-obligation chat about how we can help your business. Click here or call 03 379 1740.

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Probate threshold increased to $40,000 – what this means for Kiwi families

30 October 2025
From 24 September 2025 , the New Zealand Government increased the probate threshold from $15,000 to $40,000 — a long-awaited change that simplifies the estate process for thousands of families. This adjustment, though seemingly small, removes the need for costly High Court applications for many modest estates, especially KiwiSaver accounts sitting between $20,000 and $40,000. Why this change matters The previous $15,000 limit was set decades ago when savings balances were far smaller. With KiwiSaver now a cornerstone of retirement planning, many New Zealanders had moderate accounts that still triggered the expensive probate process. Under the old rules, families often had to spend $2,000–$3,000 on legal fees to release funds that were barely worth more than that. The new $40,000 threshold reduces this red tape and helps ensure small estates aren’t swallowed up by administration costs . What probate actually is Probate is the formal process where the High Court confirms that a deceased person’s will is valid and appoints the executor to manage their estate. It gives banks, KiwiSaver providers and insurers legal proof that they’re releasing funds to the right person. Until now, almost any estate exceeding $15,000 required probate, even if it was just a modest KiwiSaver balance or a small bank account. 
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Granny Flats without consent? Government says Yes (from 2026)

14 October 2025
From 2026, NZ homeowners can build granny flats without consent. Learn what the new law means for you with expert guidance from Weston Ward & Lascelles.