The importance of having a good accounting system
If your business doesn’t have an effective accounting system in place, you run the risk of making serious errors in your finances. Furthermore, a good accounting system simply makes life easier and allows you to focus more on growing your business. It helps you evaluate the performance of your business: A good accounting system gives […]
Keep your business growing
Having a successful business means ensuring that it continues to grow. Without growth, your business will eventually run dry and stagnant. But with the added responsibility of maintaining your business and keeping things running smoothly, it can be difficult to know where to look for business growth. Look for cost savings This point is especially […]
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 […]
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 […]
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 […]
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 […]
Are restraint of trade agreements important for business?
A restraint of trade is an agreement between an employer and an employee, or a provision in an employment contract that restricts an employee from being employed by a competitor of the employer, or establishing a business in competition with the employer following termination of employment. TIBMS (Pty) Ltd t/a Halo Underground Lighting Systems v […]
What’s the buzz about business rescue?
If a company/close corporation is in financial trouble and all possible avenues to save the business have been exhausted, there is one last option available to save the business: it can lodge an application for business rescue at the CIPC. In order to qualify for business rescue proceedings, the business must satisfy the requirements as […]
Is your business being liquidated?
Many businesses fail and consequently have to face financial crises that few recover from and in most instances, results in business owners shutting doors for good. If your business has no assets or liabilities, the more simpler process of deregistration takes place. The liquidation process needs to be followed if your business has assets, liabilities or both. The Liquidation of Your Business […]
Why alternate dispute resolution (ADR) is so important
Disputes and hostilities are regrettably a part of life and more so a part of commercial and business interactions. Many disputes can be foreseen / foreshadowed if one knows what to look for and when, but whether foreseen or not, once they arise, can in many instances be managed with a view to avoiding litigation. […]