Why Direction Matters More Than Momentum
As The Daily Stoic puts it: “When your efforts are not directed at a cause or a purpose, how will you know what to do day in and day out?”
Gerty Green
What is paying taxes a good sign?
A tax consulting.co.za article highlights the shrinking tax base in South Africa, exacerbated by the Covid pandemic, a situation confirmed by a study from Oxford University. While Mr. Kieswetter asserts that the tax base is not declining due to new registrations, a distinction exists between registrations and actual contributors.
Is Your Business Really Compliant — or Are You Just Hoping It Is?
Work with a qualified accountant, labour consultant, or business advisor. You don’t need to know everything, but you do need to know what applies to you.
Running a business without understanding your compliance obligations is like driving with no seatbelt — it might feel fine until you hit a bump.
Where cash flow meets the mindset
Cash flow. We all know it’s essential. We all hear the saying: “Cash is king.”
The Link Between Income Tax and Provisional
Income Tax in a Nutshell
Income tax is simply a tax on your taxable income. Your taxable income is your gross income (everything you earned) minus any allowable deductions and exemptions.
Overcoming Growth Challenges in a Competitive Market: A Case Study
In today’s highly competitive business landscape, sustainable growth is a critical concern for many companies. However, market saturation, operational inefficiencies, and evolving customer preferences create unique challenges – these challenges can be inflated for small and medium-sized businesses. In this case study, we explore a non-cookie-cutter approach to overcoming growth challenges, drawing from practical examples of how businesses can thrive in even the most competitive markets.
Dan’s Story Part 2
Mindset is crucial when starting a new journey. “Nothing will cost you more in life than a predetermined belief that things will not work out,” said Donald Miller.
Do you have a business or a job?
“Many businesses are ultimately shuttered rather than sold, often at the expense of the business owner and their family. This is largely because most businesses are not initially structured for sale; rather, they are crafted to sustain a particular lifestyle.” – Pavlo Phitidis
Protecting your business in a high interest rate environment
“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.
I want to apply for finance- what is the next step?
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:
A Tool for Success
“It was just poor management. Looking at it from a professional point of view, the procedures and policies weren’t there to control things.” (Quoting Frank Rawa.)
Will something bad happen or not?
Risk is simply defined as a future uncertainty about the probability and severity of something
Importance of financial sustainability
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”.
Pricing products involves a good shot of psychology
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.
Why invest in an accountant?
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
Decisions, decisions, decisions
As business owners, we are constantly making decisions. A decision can make or break a business. Complex and unpredictable interpersonal and personal issues are involved in the decision-making process and can result in anxiety. By Gerty Green
Willingness
We all are striving for something; some wants to reach the stars and others wants to be filthy rich. Yet did you ever take a moment and consider what this thing you are striving for will entail, what will the demands be? By Gerty Green
Accounting – the numbers story
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
Overhead Costs – a sneaky reality
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