“Have interest rates peaked? The answer is a resounding no.”
These were the words of Reserve Bank Governor Lesetja Kganyago in July 2023. The bank cautioned that the longer-term outlook remained uncertain amid the electricity and logistical issues, as well as the pressure on food prices. All these factors pose a risk to inflation and spending. This in turn affects our businesses.
The cryptocurrency landscape was rocked recently when the US Securities and Exchange Commission (SEC) took legal action against Coinbase and Binance – two of the largest crypto exchanges – regarding market capitalisation. This development has sent shockwaves throughout the crypto world and traditional banking systems. Fred Razak, Chief Strategist at CMTrading, shares his thoughts on crypto sector challenges.
National Wills Week (September 11 to September 15), reminds all South Africans of the importance of estate planning. While this annual event serves as a notable reminder, a holistic approach is required to consider the scenarios of the very serious financial and administrative matters that the death of a person leaves behind.
With the ongoing decline in the popularity of cash, the vast majority of businesses in the modern era will need to be able to receive electronic payments of some kind or another. Whether through EFT credits, debit orders, card payments, these businesses will all require a “payment solutions provider” with access to the banks and can facilitate these payments. Unsurprisingly, who one partners with, in terms of the provision of payment solutions, can become an important decision affecting the business’s day-to-day operations and impacting cash-flow and bottom-line profits. The business owner must understand who they are working with and make their decisions for a payment solution partnership from a position of knowledge. Here then, are the five questions you have to ask a payment solution provider before you agree to sign up.
Traveling overseas can be a life-changing experience, but it can also be expensive. For those with limited funds, saving money for an overseas trip can seem like a daunting task. However, with careful planning and a few smart strategies, it’s possible to save money and make your dream of traveling overseas a reality. Here are some tips on how to save money for going overseas with not a big salary:
John started his business after pitching his idea to some friends around the BBQ. He used all his savings for start-up capital, and family and friends provided loans. He could not apply for finance as his credit rating was not strong enough.
John’s scenario is not uncommon in the business environment. According to gviafrica.co.za, 3.3 million of the 5.6 million small businesses in 2018 were categorised as “survivalist firms”.
A few entrepreneurs have pitched their business idea to a group of funders, conducted market research, or developed a business plan and are not prepared to apply for finance.
John can implement some key strategies in his business to be able to apply for finance in the future. These strategies are:
There are few people who can say they have never experienced that moment of fear or embarrassment when their card transaction has failed or been rejected with no explanation.
Creating a personal budget is an important step in managing your finances and achieving your financial goals. A budget helps you track your income and expenses, prioritize your spending, and avoid debt. In this article, we will walk you through the steps to create a personal budget, with references to helpful resources along the way.
Risk is simply defined as a future uncertainty about the probability and severity of something
The Oxford dictionary defines sustainability as the” ability to be maintained at a certain rate or level”. The Collins dictionary defines sustain as the “ability to continue or maintain something for some time”.
The price you charge for your products has a direct impact on the success of your business. And it is one of the toughest questions to answer, especially if you are offering a service. Thus, it is not worth settling on a thumb-suck price or copying the competition.
Where did your passion for the broker industry come from? From my father. My father
Are you one of those people that can service your car at home? Most don’t. Instead, they use a professional mechanic to keep things running smoothly and to advise them on potential issues. The same applies to your business’s finances. By Gerty Green
We all love a good story. For some it is a love story, others like crime and others action. The financial numbers in a business also tell a story to the stakeholders. If accounting is the language of business – then financial ratios help you read between the lines! By Gerty Green
Running a business costs money. Particularly overhead costs can sneak up before you realize it is out of control. Overhead costs also have a direct influence in determining the profit of the business and can contribute to cash flow problems. By Gerty Green
In this day and age, this concept of needing fuel to keep the generator running is not something unheard of and many business owners can relate. Thanks Eskom for this great way to explain the cash flow concept! Cash flow management. By Gerty Green
My friend was complaining to me that she is working so many hours in her start-up partnership business and does not get compensated for the work she is doing. She gets up at 3:15 am to get everything done, and in peak times even goes a day or two without sleep. This whilst she is still a wife and mother. By Gerty Green
The relationship between inventory management and sales is important because you can only know what inventory you have – if you know what has been purchased and what has been sold – with the net effect being the impact on the cash flow. In order to track the profitability and cash flow, the business owner must make good decisions about key operations in the areas of re-ordering products, how much to purchase, where and when to purchase.
South Africans are notoriously bad at saving and investing. The result being that very few of us retire in comfort and the bulk have insufficient funding in place to maintain a good standard of living.
