Starting your own small business in New Zealand is an exciting venture. Whether you’re chasing a lifelong dream, solving a problem you’ve noticed in your community, or simply wanting to be your own boss, the journey of entrepreneurship can be incredibly rewarding. But where do you start? 

From planning your business to setting up payments, the experts at Eftpos Now are here to walk you through how to start a small business in NZ and highlight why EFTPOS solutions are a game-changer for small businesses, especially those in the retail and hospitality scenes.

1. Have a Great Idea and Plan It Out

Every business starts with an idea. But not just any idea—a great one. Think about your passions, skills, and the problems you want to solve. For example, food truck businesses have boomed in New Zealand recently because they’re mobile, flexible, and meet the growing demand for unique, on-the-go dining experiences.

Once you’ve nailed your idea, it’s time to plan. A business plan is essential for laying out your goals, target audience, and financial strategy. Here’s what to include:

Business Description: What are you offering, and what makes it unique?

Market Analysis: Who are your customers, and what are your competitors doing?

Budget: Outline your expected startup costs and ongoing expenses.

Revenue Streams: How will you make money?

A solid plan isn’t just for you—it’s also essential if you’re seeking financial support from investors or banks.

2. Register Your Business and Get Legal

Before you can operate, you’ll need to make your business official. In New Zealand, this means:

Choosing a Name: Make sure it’s unique and represents your brand—it pays to do a little research first to see if there’s already someone out there with a similar name.

Registering Your Business: You’ll need to register your business name with the New Zealand Companies Office. It’s simple and can be done online.

Getting an IRD Number: You’ll need this for tax purposes.

Checking Permits: Certain businesses, like food trucks, require specific licenses or permits so check with your local council for the requirements.

how to start a small business - Register Your Business and Get Legal

3. Sort Out Your Finances

Getting your finances in order is a critical step in how to start a small business in NZ. Start by opening a dedicated business bank account, as this helps to keep your personal and business finances separate, making it easier to track expenses and file taxes.

You’ll also need accounting software or a professional accountant to help manage your books. Some great software options available in New Zealand include Xero and MYOB, which can help you track income, expenses, and GST.

Don’t forget about payment processing fees. While EFTPOS solutions offer convenience, they do come with costs—such as transaction fees and terminal rental charges—however, these are minimal compared to the benefits of providing seamless payment options.

4. Build Your Brand

Your brand is more than just your logo; it’s your business’s personality. It’s how you communicate with your customers and how they perceive you. Here are some tips:

Design a Memorable Logo: Keep it simple and reflective of your business.

Create a Website: Having an online presence is essential. When you’re building your site, make sure to include key information like your menu, location, and operating hours.

Use Social Media: Platforms like Instagram and Facebook are perfect for showcasing your products and engaging with customers. 

5. Set Up Your Payment System

If there’s one thing every successful small business in New Zealand needs, it’s a reliable payment system. Cash-only businesses are quickly becoming a thing of the past, and customers expect the convenience of electronic payments—that’s where EFTPOS solutions come in.

Here’s why an EFTPOS terminal is essential for your business:

Fast Transactions: Reduce queues with quick and seamless payment processing.

Customer Convenience: Many Kiwis prefer to pay by card or mobile wallet, especially for small purchases.

Secure Payments: EFTPOS systems are safe for both you and your customers.

Increased Sales: With more payment options, customers are likely to spend more.

For food trucks and hospitality businesses, having a portable EFTPOS terminal is a game-changer. These devices are lightweight, easy to use, and can handle contactless payments, which are becoming the norm in New Zealand. By partnering with an EFTPOS specialist, you can get a system tailored to your business needs. From setup to ongoing support, they’ll ensure your payment process runs smoothly.

how to start a small business - Set Up Your Payment System

A Note on Merchant IDs (MIDs)

Every EFTPOS terminal in New Zealand is programmed with a unique number, known as the Merchant ID (or MID), that links the transactions to your bank account through a secure payment network. 

In New Zealand, you can opt to hold a merchant ID on the Verifone payment network, or the Worldline payment network—worldline is the more popular of the two and is our preferred network due to its compatibility with a wider range of EFTPOS terminals. If you’re a sole trader or a limited liability company, we can guide you through the application process and apply directly to Worldline on your behalf. Think you already have a merchant ID? Here’s where you can find it.

The Future of Small Business Payments in NZ

As more Kiwis move away from cash, the importance of offering electronic payments will only grow. By investing in a reliable EFTPOS solution, you’ll not only meet current customer expectations but also future-proof your business.

For food trucks, cafes, and other small businesses, having the ability to accept contactless payments is no longer a “nice-to-have”—it’s a must. Customers want speed, convenience, and security, and EFTPOS delivers all three.

With innovations such as mobile wallet integration, QR code payments, and even cryptocurrency on the horizon, businesses that adopt flexible and future-ready EFTPOS solutions will stay ahead of the curve. By embracing this technology, you’ll put your business in good stead to stay competitive in an increasingly digital economy.

Investing in an EFTPOS system means more than just meeting current needs—it’s about positioning your business for long-term success in a rapidly evolving market. In the end, prioritising seamless, secure, and modern payment options is one of the smartest moves a small business can make.

Why Work with an EFTPOS Specialist?

Starting a small business comes with enough challenges—setting up your payment system shouldn’t be one of them. By working with an EFTPOS specialist like our team at Eftpos Now, you’ll get expert advice on the best payment solutions for your business. From portable terminals for food trucks to fixed options for cafes and retail stores, we’ll help you find a system that fits your needs and your budget.

Our EFTPOS specialists also provide:

Installation and Training: We help you get your terminal set up and show you how to use it effectively.

Ongoing Support: If you ever run into issues, we’re just a phone call away.

Custom Solutions: Whether you’re just starting out or scaling up, we’re here to make sure your payment system grows with your business.

Ready to get started? Contact EFTPOS Now today and take the first step toward making your small business dreams a reality.


Unlock the power of seamless payments with Eftpos Now. Tap into the convenience of contactless ‘Tap & Go’ technology for businesses in NZ. With 24/7 support and affordable rates, we’ve got your payment needs covered. Buy or rent your EFTPOS machine today and visit our EFTPOS terminals page for more information.