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
17
Apr
Apr
While many companies pay the Skills Development Levy (SDL) that amounts to 1% of total payroll each month, not all companies are taking advantage of the incentives that allow as much as 70% of the paid levies to be claimed back by meeting certain requirements and submitting the required annual reports by the 30 April […]
17
Apr
Apr
New companies are launching every day. They each have hopes of one day becoming large brands, but the first step is cutting through the clutter, attracting customers and making their first sales. But how do you get customers to trust you when you may never have sold a single product? Why should these customers visit […]
17
Apr
Apr
Most people who start a business know that they need a business plan – a guide to starting and managing the business to ensure success. Business plans detail all the elements that go into building the business so they are a crucial way to get off on the right foot. While the reality of your […]
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 […]
09
Feb
Feb
From damaged equipment, and staff and machinery sitting unproductively for hours, to numerous missed deadlines, there is no doubt that constant loadshedding is taking a heavy toll on South Africa’s small to medium businesses. With no short-term solution in sight, it’s clear that to survive and hopefully thrive South Africa’s entrepreneurs are going to have […]