Category: Business advice
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When it comes to strategy, think big
To create a strategic roadmap for your business you don’t need heaps of wonderful resources; you only need to give up your preconceived ideas about strategy. Sometimes the thing that holds a small business back the most is small thinking. If you believe that the size of your business is a disadvantage when it comes…
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Beware of Capital Gains Tax when you emigrate
While many people immigrate to South Africa, we also see many of our clients emigrating from South Africa. And while formal migration-status is not necessarily linked to tax residency, the time of tax migration often coincides with formal emigration linked to passport or visum status. Many are surprised to learn (often after the fact) that…
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Offshore companies and doing business in South Africa – a companies act perspective
According to the most recent statistics released by the South African Revenue Service, South Africa remains a net importer of goods and services. Put differently, one could say that South Africans are more often clients in cross-border transactions than they would be the service provider. Many of our clients operate in this space, including foreign…
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Home office expenditure
With current day realities manifesting in ever increasing distances required to be travelled to get to an office, traffic congestion, etc. more and more employers are opting to give their employees the option of working from home. The proliferation of “home offices” has surfaced in dramatic fashion in recent times. It is therefore only natural…
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Newtons Laws of Business
Running a successful business is one of the most difficult things to do. One has to consider Staff Customers Suppliers Product Finances Marketing As an owner there is often nobody to talk to or to assist in dealing with all these facets that comprise running your own business. Over many years I have come across…
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Removing directors of a company
The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board, which has the authority to exercise all of the powers and perform any of the functions of the company, except to the extent that the Companies Act or the company’s…
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Threshold registration requirement for the skills development levy
We have recently become aware of an increased level of audits being conducted by the South African Revenue Service in relation to taxpayers’ obligations in terms of the Skills Development Levies Act, 9 of 1999 (SDL Act). The focus appears to be specifically on non-compliant taxpayers who fail to register as required in terms of…
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Newton’s laws of life
After many years in practice, dealing with many people and attending many seminars and workshops I have picked up a couple of points which I would like to share with everybody. This is not intended to be a motivational or other speech but merely points which I would like you to consider and it will…
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Do you use a monthly financial checklist? If not, you might miss something important!
The primary purpose of business is to generate positive cash flow and make a profit, both of which are determined by two factors: money coming into the business and money going out of the business. As long as the money coming in is more than the money going out, you will be smiling. But what…
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Resistance: A stranglehold on business
It is not always easy for people to change, but because the business world is constantly changing and evolving, it is essential that your business will adapt to these changes or go under. Real resistance to change does occur in many small businesses and it manifests in ideas that amount to nothing and initiatives that…