<p>Get Booked &amp; Paid With Podcasts. Start for Free 👉 <a href="https://www.pwrfully.com" target="_blank" rel="ugc noopener noreferrer">https://www.pwrfully.com</a></p><p><br></p><p>Damien Grant is the principal of Waterstone Insolvency and one of New Zealand&#39;s best-known liquidators. He has run Waterstone since 2006 and writes a weekly column for Stuff.</p><p><br></p><p><br></p><p><br></p><p>His firm has handled some of the country&#39;s most public collapses, including Waikato construction firm Stanley Group, Ponsonby restaurant SPQR, and Burger Burger, the gourmet burger chain placed into receivership owing around $1.8 million.</p><p><br></p><p><br></p><p><br></p><p>In this one he argues it is not the economy closing good companies. It is the Inland Revenue Department, and a mistake most owners do not see coming.</p><p><br></p><p><br></p><p><br></p><p><strong>What I Asked Damien</strong></p><p><br></p><p><br></p><p><br></p><p>Is the economy really what is closing NZ businesses, or is it something else<br></p><p>Why is the Inland Revenue Department quietly forcing good companies into liquidation<br></p><p>If I cannot pay my tax bill, what is the first move<br></p><p>Can a profitable business buried in old debt still be saved<br></p><p>Why do so many owners hold on until it is too late</p><p><br></p><p><br></p><p><br></p><p><strong>Chapters</strong></p><p><br></p><p><br></p><p><br></p><p>00:00 Intro<br></p><p>02:35 Is the NZ economy as bad as the news says?<br></p><p>04:06 Is it the economy or bad business decisions?<br></p><p>06:03 Why are company insolvencies spiking right now?<br></p><p>06:28 Is the IRD forcing NZ companies to shut down?<br></p><p>08:25 Why is the IRD chasing unpaid tax so hard now?<br></p><p>09:23 Which NZ industries are failing the most?<br></p><p>11:42 What do you do when you cannot pay your tax bill?<br></p><p>13:20 Is not paying the IRD a crime in NZ?<br></p><p>16:06 What mistakes are honest business owners making?<br></p><p>21:18 Why do more men fail in business than women?<br></p><p>25:50 What is the biggest mistake in business?<br></p><p>26:34 What does losing your business actually do to you?<br></p><p>28:33 When should you call an insolvency practitioner?<br></p><p>32:04 What happens in the first insolvency meeting?<br></p><p>37:02 Can you restructure a business to survive the debt?<br></p><p>41:13 What to do after one bad business decision<br></p><p>42:02 Where to find Damien Grant</p><p><br></p><p><br></p><p><br></p><p><strong>Follow Me</strong></p><p><br></p><p><br></p><p><br></p><p>Mina on YouTube <a href="https://www.youtube.com/@NotesFromTheExecutivePodcast" target="_blank" rel="ugc noopener noreferrer">https://www.youtube.com/@NotesFromTheExecutivePodcast</a><br></p><p>Mina on Spotify <a href="https://open.spotify.com/show/4QgZGJdrnfjZ1sEm6MeGcp" target="_blank" rel="ugc noopener noreferrer">https://open.spotify.com/show/4QgZGJdrnfjZ1sEm6MeGcp</a><br></p><p>Mina on Apple Podcasts <a href="https://podcasts.apple.com/nz/podcast/notes-from-the-executive-podcast/id1586953812" target="_blank" rel="ugc noopener noreferrer">https://podcasts.apple.com/nz/podcast/notes-from-the-executive-podcast/id1586953812</a><br></p><p>Mina on Instagram <a href="https://www.instagram.com/minaamso/" target="_blank" rel="ugc noopener noreferrer">https://www.instagram.com/minaamso/</a><br></p><p>Mina on LinkedIn <a href="https://www.linkedin.com/in/minaamso" target="_blank" rel="ugc noopener noreferrer">https://www.linkedin.com/in/minaamso</a></p><p><br></p><p><br></p><p><br></p><p><strong>Follow Damien</strong></p><p><br></p><p><br></p><p>Damien on LinkedIn <a href="https://nz.linkedin.com/in/damien-grant-a7463317" target="_blank" rel="ugc noopener noreferrer">https://nz.linkedin.com/in/damien-grant-a7463317</a></p><p><br></p><p><br></p><p><br></p><p>Notes From The Executive is New Zealand&#39;s no-BS business podcast for Auckland owners running established companies who want to grow faster, protect their margin, and build something worth selling. New episodes weekly.</p><p><br></p><p><br></p><p><br></p><p>3,023 NZ companies closed in the past year, according to Centrix. This episode looks past the headline to ask whether the failures are a temporary dip or a structural shift, why the Inland Revenue Department is driving the spike, and what an owner buried in tax debt can actually do about it. Subscribe for weekly breakdowns of the New Zealand economy, business failure, and what it means for your company.</p><p><br></p>