Tax season 2019: Improvements made to eFiling
SARS recently released two media statements, in which it notes several improvements made to eFiling for the 2019 tax season, including the issue of customised notices indicating specific documents required in the event of an audit or verification and a simulated outcome issued before a taxpayer has filed. What is the tax season? Tax season […]
The timing of business financing
Sufficient cash flows to enable a business to function at optimal levels during a financial cycle is paramount. Whether you have a seasonal business, are anticipating higher sale volumes during holidays or when you need just a little bit of assistance getting through those slower months until the crowd comes in, every business requires additional […]
What should you consider when investing in a business
You have worked hard for many years, and have finally saved enough funds and mustered the courage to take the big leap that you have been dreaming about for such a long time… you are going to invest in your own business. You have found the perfect business and is excited about your new journey, […]
Growing your business and adapting to change
Growing a business takes several important characteristics that require a dedicated leader driving it at the helm. These characteristics include vision, change and people. An effective leader will also engage others in the business to embrace and adapt to change as growth continues. Vision: First, plot the course for where the business should go in […]
Accounting best practices for small businesses
When it comes to looking after the welfare of a business, accounting tops the list as being the most important. Without proper accounting, a business runs the risk of losing everything. The following are a few best practices that are essential for businesses to take note of. Check it off your list first Proper accounting […]
Income tax recoupments
In the ordinary course of business, assets used by taxpayers to conduct their trade are often written down over a number of years in the form of accounting depreciation. The Income Tax Act[1] provides similarly for assets to be written down for tax purposes over a period of time, and which wear and tear related […]
5 Common small business money mistakes
Of all the roles a small business owner takes on, often the most challenging is managing the business’s finances. You can improve your chances for success – and your profitability – by being aware of and steering clear of these common small business money mistakes. Insufficient cash Insufficient cash is one of the leading causes […]
Ten tips for small business owners during tough financial times
When the economy is slow, small business owners struggle to survive, many for the first time. Financial problems consume valuable time and business resources, yet must be dealt with proactively. Also make use of your financial advisor or your banker; they have the expertise and knowledge regarding your business and its financial well-being. In tough […]
The importance of having a good accounting system
If your business doesn’t have an effective accounting system in place, you run the risk of making serious errors in your finances. Furthermore, a good accounting system simply makes life easier and allows you to focus more on growing your business. It helps you evaluate the performance of your business: A good accounting system gives […]
Prepare to impress investors
What must you do to attract and motivate investors? You could answer this yourself after studying the three tips below.The entrepreneurial spirit is alive and kicking in South Africa, and many an entrepreneur have learnt valuable lessons from pitching their ideas to tough investors or sharks in the program “Shark Tank”, courtesy of American television. […]