Business costs: 4 ways to save
How do you increase profits (or your bottom line)? There are two options – increase sales or cut the business costs and save. 1. Know your options Service providers and suppliers often offer discounts if certain requirements are met. Make sure you know what the options are. These may or may not be feasible for […]
Time is money, but how much is it worth?
You are valuable, there is no doubt about that. But do you know that value? What is value? This is a simple concept. Your value is the amount in Rands (or other currency) you can earn per hour (week/month etc). The amount is based on what you can expect to earn from a third party, […]
3 Business Tips From My Son
My son (lets call him Bob) at the time of writing is about 10 months old and has taught me various lessons in life. He has already taught some lessons about business too. Here are just 3 business tips that my son has taught me about business: Number one: Focus. If he wants to get […]
Private and Confidential
All private and confidential as a standard. The term “private and confidential” is of the upmost importance when it comes to financial matters and especially personal finance or money, With any financial information, being personal or company, people are generally skeptical about handing their information over. This is especially true now with all the scams […]
Do You Speak Financial?
The language of financials Over the years, I have come across loads business owners who run their business and that’s where it ends. They rarely (if ever) glance at their financial statements. Also called financials or reports – it has many names that all mean the same. You know what they are – those things […]
10 tips for better financial management that anyone can do
Many business failures are caused by poor financial management and record keeping. The time frame is normally 3 – 5 years when failure happens. This is definitely avoidable through better financial management. Here are ten ways in which you can survive the tough year ahead through better financial management: Limit your capital expenditure It is very […]
Just one more role to go
All roles in one You own your own business, great! You started in your home and you did everything. Nothing wrong here. You were (and still are) excellent at what you do, so your company grew and continues to grow. One extra person became two, became five etc. These helping hands help you manage to […]
5 ways budgeting can predict the future
I know what you are thinking – I hate numbers and I hate budgeting even more! They are so boring and I often get it wrong. I understand why you say that and so many people think the same way. The truth is that it is vital that you get the budget as accurate as […]
Working times and the BCEA
The Basic Conditions of Employment Act (BCEA) provides a basic guideline on BCEA regulations relating to: Working times: including shift work, weekend work, public holidays, overtime Payment: including payment in kind, deductions Leave: annual leave, sick leave, maternity leave, family responsibility leave, unpaid leave and absence without leave Deductions: including those required by law and […]
Turnover Tax Can Save Small Business
What is it? Turnover tax is a simplified tax system aimed at small businesses, making it easier for them to comply with their tax obligations. The criteria to qualify for this taxation is a turnover of R1 million or less. It replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax. A micro […]