Most entrepreneurs start businesses because they see a gap in the market they think they can fill. The knowledge they have from their careers may have empowered them to see the gap, and to understand how to exploit it, but may leave them short of knowledge in other, critical business areas. Obviously, the business’ finances […]
Category Archives: Business Finance
08
Mar
Mar
Employers and their employees should take note of the increases from 1 March 2023 in both the National Minimum Wage (NMW) and the “Earnings Threshold” provided for in the Basic Conditions of Employment Act (BCEA). The threshold also impacts on employee protections in the Labour Relations Act (LRA) and in the Employment Equity Act (EEA). […]
08
Mar
Mar
National Budget 2023 focussed firmly on the energy State of Disaster. The most prominent announcement was that government would take over R254 billion of Eskom’s debt, while two tax relief measures totaling R9 billion were introduced to assist individuals and businesses to invest in solar and renewable alternatives. As a result of this and an […]
08
Mar
Mar
Entrepreneurs have a lot to deal with on a daily basis. From managing customers to ordering stock, handling marketing, and networking – the days aren’t short of obligations. As a result, it can be difficult to find time to draw up spreadsheets and analyse finances. The problem is that managing your books and keeping finances […]
10
Feb
Feb
Previously, company losses could (subject to certain requirements) be offset against 100% of taxable income in the following year, with any balance rolling over to subsequent years. Under the new rules, an assessed loss can now only be set off against 80% of taxable income or R1 million – whichever is higher – in the […]
10
Feb
Feb
With both fuel and vehicle ownership costs at historic highs, it is more crucial than ever for taxpayers to keep accurate, up-to-date, and securely stored logs of all business travel as well as proof of related travel costs. This is because expenses related to business travel can be deducted from taxable income – but only […]
12
Jan
Jan
When starting a business, it’s easy to get carried away in the excitement, but like with anything those who plan first are far more likely to succeed. Whereas you may already know where you are sourcing your raw products, or who your first clients will be, it is distinctly possible that other aspects have slipped […]
12
Dec
Dec
Effective communication is vital to the successful functioning of a company. Not being able to get across the company’s vision or what needs to be done and the parameters in which it has to be achieved will result in your business going under. But let’s assume your company is part of the 59% where employees […]
12
Dec
Dec
Businesses, particularly smaller ones, often neglect to implement annual price increases in their prices, rates, or fees: some due to poor management; many in fear of losing clients in a competitive market (as was particularly evident during COVID), and most simply due to a lack of know-how. The reality is that not implementing annual increases […]