Do you have the accounting know-how required to run your business?
Many entrepreneurs who feel confident about their accounting know-how take it upon themselves to do their own accounting function. The thinking behind this is actually sound: “keep your fingertips on the numbers the business is producing”. Producing the goods Unfortunately, many business owners (despite having the skills to do so) don’t fully understand the rigours […]
Tax consultants – what do they do?
“Tax Practitioners” or “Tax Guys”: You will probably have a person who handles your tax affairs. This is fantastic but a warning – there are different types. Preparer: This is a person who is not qualified to give advice but is allowed to prepare tax returns on behalf of people. They cannot submit the return. […]
5 Business Cash Flow Problems a small business faces
A business is only as healthy as its cash flow. There are times when a business might suffer from a cash flow that is not good. This happens when new equipment is purchased or if there was a catastrophic event (eg: a fire in the building or factory) and the company had to close for […]
Counting the cost.
Service is “too expensive” The focus of most business owners is the cost of any item or service. There are always ways to cut costs in a business but often the business cuts the wrong costs. The essential services are first to either get cut or not to pay for a service. Countries across the […]
Time: Where your time goes
I attend various networking meetings and events. I ask business owners if they would like to attend our meetings. Most decline. The most common reason? “I do not have the time”. It is clear that most of them don’t know where their time goes. Say what? I understand that many business owners are busy. Unfortunately, […]
One reason that you WANT to PAY TAX!
Why should I want to? The purpose of a company is to make a profit. Every business owner wants to make a profit. However, when you make a profit, you need to pay taxes. The overwhelming consensus from business owners and individuals is that they don’t want to pay tax. By extension of that thought […]
Physical exercise can be similar to running a business
We all know that regular physical exercise, in fact mental too, is good for you. Yes, you heard correctly. I am saying that training for an athletic event can be compared to running a business. More specifically, a small business of less than 10 people. I am pretty sure it applies to bigger companies too […]
How to make your business more efficient
There is a known fact that if one object is behind another object that is moving, it will not take as much energy to keep up with it. This is most evident in sports. In motor racing, it’s called a slipstream. In cycling, it’s known as drafting. It happens in running and swimming too. Any […]
Is the “recession” really impacting your lifestyle?
It is on everybody’s lips in South Africa and in fact all over the world. Recession. South Africa adds another word, junk status. Despite not completely understanding the concepts, the fear attached to them is taken seriously. This is not to mention floods, riots and of course COVID-19 This fear extends to any and every […]
Be aware of these sneaky charges
Sneaky Charges We all have a bank account and it is just a way of life currently. The ranges and options from all banks in SA are plentiful BUT there is just one constant – BANK CHARGES! These can be some seriously sneaky charges, like a spider lurking in the dark! I reviewed my business […]