How to Untangle Your Personal and Business Finances
In the life cycle of every small business or start-up, one early trap catches many founders off guard: failing to separate personal and business finances.
The 5 Cognitive Biases That Could Sink Your Business
Running a business requires leaders to make hundreds of decisions each year. Some of these are small and inconsequential. But others have the power to affect the company’s future, determine the happiness of its customers and impact the lives of all its employees.
Why Use a Registered Tax Practitioner? Here’s What SARS Says…
“Protect Yourself – Use Only Registered Tax Practitioners” was among the first messages from SARS this year. The message also highlighted the risks of engaging the services of unregistered practitioners and provided an online look-up feature where a practitioner’s registration can be verified.
5 Things to Consider When Buying vs Leasing Equipment
As a business owner or financial manager one of the most important decisions you will make is whether to buy or lease the equipment your business needs to operate.
How to Save Big on Corporate Travel in 2025
Online meeting apps have absolutely boomed over the past few years. But in a post-COVID world, business travel is still an expensive necessity for many companies.
What Your Balance Sheet Says About Your Business
A balance sheet is a vital financial report for a business, providing a snapshot of the company’s financial health by detailing its assets, liabilities and owners’ equity. These are also used to calculate important financial ratios.
Building a Business: Should You Bring in Funders or Go it Alone?
Building a small business on your own can be hard. It’s difficult to know just where each hour of work and precious cent should go to maximise growth. Product testing, marketing, website costs and infrastructure – these are not cheap and may be hard to put together all at once when starting out. This is why many turn to external investors for help.
Why Email is Destroying Your Business (And How to Stop it)
In June 2019, Slack co-founder and CEO Stewart Butterfield declared that business email would be dead and buried within seven years. Now, six years later, email remains as strong as ever – despite the weaknesses Butterfield saw still being there.
Starting a New Business? Here Are the Tax Implications...
Starting a new business isn’t just a challenging undertaking. It also comes with a list of tax liabilities and administrative obligations. Not to mention an impact on the business owner’s personal tax affairs.
3 Things You Have to Do to Position Your Business for Growth in 2025
In a world where market conditions and consumer preferences are constantly shifting, many business advisors tell leaders to be agile and adaptable if they want their businesses to succeed. While this can be effective, it’s even better for your business to already be positioned to take advantage of any changes that may occur.
Unlock the Benefits of an End-of-Year Company Review
An effective year-end business review can be a powerful tool for any firm. It identifies effective business processes and highlights areas for improvement, making it easier to formulate a solid plan for the upcoming year.
Africa: A Continent of Growth and Opportunity
Africa, a vast continent covering 30.2 million square kilometres, is home to approximately 1.5 billion people, representing about 18.6% of the world's population. With its diverse climates ranging from hot deserts to tropical rainforests and frozen glaciers, Africa is a land of immense natural beauty and resources. The continent is rich in oil, gold, platinum, and diamonds, many of which remain untapped due to infrastructure and financing challenges.
Five Signs It’s Time for a Rebrand
Marketing is a tricky game with ever-changing rules. When your marketing doesn’t seem to be working and you aren’t getting the results you want, it might be time to go back to the drawing board.
Updated Specification for the Two-Pot retirement system
Since the implementation of the Two-Pot Retirement System on 1 September 2024, SARS has taken note of the challenges the industry is experiencing. To this end, various enhancements have been incorporated into the SARS interface. These enhancements and changes inter alia include:
The Crucial Role of Trustees in South African Trusts
In South Africa, the role of trustees in managing trusts is pivotal to ensuring the proper administration and safeguarding of trust assets. Trustees are appointed to act in a fiduciary capacity, holding and managing assets for the benefit of the trust's beneficiaries. Their responsibilities are governed by the Trust Property Control Act and the trust deed, which outlines the framework within which they must operate.
SMEs Embrace AI to Boost Efficiency and Competitiveness
Berlin, October 2023 — Small and medium-sized enterprises (SMEs) are increasingly turning to artificial intelligence (AI) to enhance their operations, improve customer experiences, and stay competitive in a rapidly evolving market. A recent study published in the Journal of Business Management highlights the key AI applications being adopted by SMEs and the challenges they face in implementation. The findings reveal that while only 28% of SMEs have integrated AI solutions, those that have are seeing significant benefits.
Tax Implications of Withdrawing from Two-Pot Retirement System
Starting from 1 September 2024, individuals planning to withdraw from the savings pot of the Two-Pot Retirement System must be registered for tax. Unregistered individuals must complete their registration before applying to their relevant fund, as unregistered requests will be rejected by SARS.
How to Use AI in Formulating a Business Strategy
Artificial Intelligence (AI) is revolutionizing the way businesses operate, making it an essential component of a modern business strategy. Here’s how you can incorporate AI into your business strategy:
Key Steps to Business Success in South Africa
South Africa, known for its diverse economy and entrepreneurial spirit, offers a wealth of opportunities for businesses. Here are some key steps to achieving business success in this vibrant country.
South Africa Introduces Two-Pot Retirement System to Enhance Flexibility and Financial Security
In April Treasury held a ZOOM conference around the proposed two pot retirement system. We have summarised some of the key issues raised.
The Importance of Strategic Planning for Business Success
Strategic planning is not just a buzzword; it’s a critical process that can significantly impact the success and longevity of your business. Whether you’re a startup or an established company, having a well-defined strategic plan is essential. Let’s delve into why strategic planning matters and how it can benefit your organization.
SARS Digitilisation of Tax Administration
The South African Revenue Service (SARS) has embarked on a digital transformation journey to modernise and enhance its tax administration capabilities. The aim is to improve service delivery, compliance, efficiency and effectiveness, as well as to combat tax evasion and fraud. Some of the key initiatives that SARS has implemented or is planning to implement include:
Directors Role
In terms of the Companies Act, the business and affairs of a company must 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.
What You Need to Know About Living Wills
A living will is not the same as a last will and testament. A living will is a document that lets you express your preferences for medical care in case you become unable to communicate them yourself. A living will can help you avoid unwanted or unnecessary interventions, such as life support, resuscitation, or tube feeding, that may prolong your suffering or go against your values. A living will can also help your family and doctors make difficult decisions on your behalf, and reduce the potential for conflicts or disputes. A living will should be prepared separately from your last will and testament. Your last will and testament only takes effect after your death, while your living will takes effect while you are still alive but incapacitated.