Finding someone to step into your shoes: Succession planning for your business
The Eskom crisis demonstrates again the importance of proper succession planning—IoDSA The current crisis at Eskom has a number of governance lessons for South Africa—one of which is the vital importance of proper succession planning for key senior positions. The imminent departure of both the chief executive (CEO) and chief operating officers (COO) of Eskom […]
How to lead when the only certainty is uncertainty
Humankind has always been known for its innovation and ability to advance in technology and science. Most of human development and technology is the product of the last 200 years of history. In fact, we are developing technology and innovation at an exponentially increasing rate. Yet for all the progress we have made, the world currently seems to find […]
Business rescue vs liquidation: What is the difference?
South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium business enterprises. Many of these struggling enterprises are now at a crossroads: do they continue […]
SimplePay – Frequently Asked Questions
Can SimplePay integrate with other systems? SimplePay currently integrates with Xero and Quickbooks Online. SimplePay has built an API that will allow other systems to integrate with the software. Is SimplePay able to post per pay point? You are able to post the information for each pay point on SimplePay separately to your accounting system […]
What should you consider when investing in a business
You have worked hard for many years, and have finally saved enough funds and mustered the courage to take the big leap that you have been dreaming about for such a long time… you are going to invest in your own business. You have found the perfect business and is excited about your new journey, […]
Buying out shareholders
We are often approached by clients to advise on the most tax efficient manner in which a shareholder can sell an investment in a private company. Typically, the parties involve a majority shareholder of a company that is interested in buying out the minority shareholders in the company and which will ensure that that majority […]
Growing your business and adapting to change
Growing a business takes several important characteristics that require a dedicated leader driving it at the helm. These characteristics include vision, change and people. An effective leader will also engage others in the business to embrace and adapt to change as growth continues. Vision: First, plot the course for where the business should go in […]
Accounting best practices for small businesses
When it comes to looking after the welfare of a business, accounting tops the list as being the most important. Without proper accounting, a business runs the risk of losing everything. The following are a few best practices that are essential for businesses to take note of. Check it off your list first Proper accounting […]
5 Common small business money mistakes
Of all the roles a small business owner takes on, often the most challenging is managing the business’s finances. You can improve your chances for success – and your profitability – by being aware of and steering clear of these common small business money mistakes. Insufficient cash Insufficient cash is one of the leading causes of […]
Ten tips for small business owners during tough financial times
When the economy is slow, small business owners struggle to survive, many for the first time. Financial problems consume valuable time and business resources, yet must be dealt with proactively. Also make use of your financial advisor or your banker; they have the expertise and knowledge regarding your business and its financial well-being. In tough […]