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“In a way, fraud in business is no different from infidelity in marriage or plagiarism in scholarly work. Even people committed to high moral standards succumb” (Miroslav Volf, Director of the Yale Center for Faith and Culture) Fraud (in this context) is the act wherein an employee or trusted partner makes a financial gain through criminal behaviour or deception within an organisation and it is extremely common. Recent studies suggest that…  Read more

7 November – Monthly PAYE submissions and payments 25 November – VAT manual submissions and payments 29 November – Excise Duty payments 30 November – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments.  Read more

“The moment you make a mistake in pricing, you’re eating into your reputation or your profits.” (Katharine Paine, founder and CEO of KDPaine & Partners) It may seem a simple concept but getting your pricing right is an integral part of any business’s true sustainable success and can be a critical part of its failure too. Bad pricing leads to missed deals if you are too expensive, and lost profits…  Read more

“If you can’t measure it, you can’t improve it.” (Peter Drucker) Metrics are defined as a set of numbers that give information about a particular process or activity. In a business context, a metric is a quantifiable measure used to track, monitor and assess the performance of various business processes. Also known as key performance indicators or KPIs, business metrics allow you to track the growth and performance of a business, so…  Read more

“South Africa is aligned with the practice in many other countries of granting tax relief for medical expenditure.” (SARS) In South Africa, tax relief for medical expenses is provided through a medical tax credit system. This means the tax relief is provided as a tax rebate – a reduction in tax payable. If you are a non-provisional taxpayer, you have only a few more days to ensure you have claimed…  Read more

“If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion” (Elon Musk) The move to the gig economy has been in the works for years. Even before the pandemic people were leaving their jobs to “consult independently” from small towns around the big cities. Younger generations with in-demand skills found themselves capable of earning more money, and…  Read more

7 October – Monthly PAYE submissions and payments 25 October – VAT manual submissions and payments 28 October – Excise Duty payments 31 October – Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon…  Read more

“During recession greed dies, frugality survives.” (Amit Kalantri, Wealth of Words) With yet another return of loadshedding in August, and major banks upgrading their forecasts to reflect an increased possibility of further economic downturns, recession feels inevitable in South Africa. A recession is simply where an economy stops growing and starts retracting. A generally held definition of recession is when the Gross Domestic Product of a country declines for two…  Read more

“The main objective… is to provide compensation for disablement caused by occupational injuries or diseases sustained or contracted by employees, or for death resulting from injuries or diseases…” (Compensation for Occupational Injuries and Diseases Act) Most employers – and particularly smaller businesses and domestic employers – are not able to provide cost-effective medical or insurance cover for their employees, even though the vast majority would want their employees to be…  Read more

“This is a call for all South Africans to be part of the solution; to contribute in whatever way they can to ending energy scarcity in South Africa.” (President Cyril Ramaphosa) For more than a decade, local businesses have faced the huge challenge of an unreliable power supply from a state-owned monopoly that allowed very little in terms of affordable or practical alternatives. In addition, since then Eskom’s electricity prices…  Read more

 “Happy customers are your biggest advocates and can become your most successful sales team.” (Lisa Masiello) Anyone who has started a business has had those meetings. The ones where you trade a dozen emails explaining what you do and how you do it, what your rates are and why you are the best, and now your potential client has asked for a meeting. You drive to the other side of…  Read more

7 September – Monthly PAYE submissions and payments 23 September – VAT manual submissions and payments 29 September – Excise Duty payments 30 September – End of the 2nd Financial Quarter 30 September – VAT electronic submissions and payments, PIT top-up & CIT Provisional payments. Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for…  Read more

Most companies need a website to conduct their business, but it’s also a critical piece of the puzzle in attracting amazing team members. Here are a few things you can do to make sure your website is always making a great impression, so you can attract great people to join your team. 1. Think of your website as your storefront These days, your website is the online face of your…  Read more

Throughout time, an enterprise’s purpose has been associated with creating value for its shareholders. In today’s day and age, however, shareholders should be replaced by stakeholders in such definition. Actions and decisions of an enterprise have an impact in a wider population, defined as stakeholders. In our present world, a company or firm has responsibilities that extend beyond its profit-generating capabilities and into the effect it has in its environment and society.…  Read more

Everyone wants the best for their children, and this includes being rich. Being rich is not just about money– it is about wealth in all aspects of life. In this article, we will share some life lessons you must teach your kids while they’re young to help them grow into adults who can build financial wealth, meaningful relationships, and an overall happy life. Lead by example Children learn from their…  Read more

Running a small business often means that in order to save money, you need to do a lot of the tasks that come with business ownership by yourself. However, certain tasks are always best left to the professionals, especially accounting. While there are several accounting software tools on the market now that you can take advantage of for doing your own books, it’s always best to have a professional accountant…  Read more

Article by Entrepeneur , Undoubtedly, COVID-19 has rocked the economy. The International Monetary Fund’s (IMF) predicts the cumulative loss to the world’s GDP from 2020 to 2021 will be approximately $9 trillion. That’s more than the combined economies of Germany and Japan. But the crisis has disrupted more than global markets; it has changed peoples’ lives, needs, priorities and spending behaviors. Approximately of Australians are feeling financially insecure, and as…  Read more

Good personal finance skills are important in life, but this seemingly simple concept can be difficult to master. Without having a good grasp of how to manage your money effectively, you run the risk of making financial mistakes that could significantly impact your life. Avoid money traps and manage your finances better with the following common sense financial tips. 1. Not all ‘tax effective’ investments are good investments. The term…  Read more

Most family business owners have a similar goal in mind – to grow the business and pass it on to the next generation of their family. While keeping the business in the family and getting to work with your parents, siblings, or children who share common goals can be a fun and rewarding experience, running and growing a family-owned business isn’t without its challenges. Conflicting views on business and family…  Read more

More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19/ Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll…  Read more