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Financial Management – When is income really income?
Over the next few weeks, we’ll be looking at the various pieces of the puzzle that are the financial statements, so that you understand where to look for something, where information should go, and what [...]
I run a business and I have never submitted tax what should I do
Every business that is liable for tax under the Income Tax Act, 1962 is required to register with SARS as a taxpayer within 21 days of becoming liable. This registration can be done once for all different tax [...]
Don’t get caught with mothballs in your wallet
‘Cash is king’, says everyone to a small business owner. It’s not a platitude, it is true. It doesn’t matter what your sales are if your customers haven’t paid you. As a business owner, you [...]
The 9 Hats of an Entrepreneur – Chairman
I was once appointed to a management board of a Non-Profit Organisation and duly elected Chairman. It has become an interesting journey finding my place as Chairman of a board of an organisation that I [...]
VAT continued
Following our blog last week, we see that VAT is set to increase to 15% from the 1st of April 2018 following the Minister of Finance’s budget speech. This will not be a simple task like many would [...]
Your business should perform like an athlete
How do you define performance in a business; more specifically how do you define financial performance? Good performance is very easy to recognise for sports people or athletes. There is a target that they are [...]
The 9 Hats of an Entrepreneur – Share Holder
Think for a moment how you would act or react if you had equity in another business? What sort of input would you like to have in the way the money is spent on R&D [...]
The VAT Effect
One of the most common buzz words in South Africa right now is the VAT increase. Individuals and corporates are wondering what effect this will have on the bottom line and if they will be [...]