Small Business

Home/Tag: Small Business

Is cashflow really such a big challenge in business?

Is cashflow really such a big challenge in business? If you have been following me for a while you will know how much figures and data excites and ignites me. So imagine my delight when I got my hands on the “Understanding the Impact of COVID-19 on SMEs in South Africa: Part 2” released by Sasfin and   Results for Survey 2 in August 2020 was obtained for 1,735 participants and all respondents were categorised in 1 of 3 categories: Distressed - 49% - refers to severely impacted Coping - 41% - refers to a limited impact, or Thriving - [...]

Is cashflow really such a big challenge in business?2020-09-07T18:05:54+02:00

Dealing with debt in your Business

Dealing with debt in your business As the majority of businesses return to normal operations, many will return to face a burden of accumulated debt as a result of restricted trading. The latest studies have confirmed the impact of COVID-19 resulting in a devastating debt burden for South Africans. The debt holiday offered by the banks in late March 2020 had added R20.7 billion to the debt of the estimate 1.6 million South Africans who took advantage of this. Credit bureau TransUnion reported that by August, 21% of those surveyed reported losing their jobs as a result of the pandemic; and [...]

Dealing with debt in your Business2020-08-24T14:28:55+02:00

Lessons I’ve learned along the way

Lessons I’ve learned along the way Receiving a bunch of messages on Woman’s Day made me think about the path I’ve walked to get where I am today. For the most part I have kept my story to myself because I saw no benefit in sharing it with the world. I was after all raised in a family that frowned on as the saying goes ‘airing your laundry’. But this morning I had the privilege to listen to 3 phenomenal ladies share their stories and it inspired me to share some of my story. I choose to share part of my [...]

Lessons I’ve learned along the way2020-08-24T14:38:13+02:00

Tax for Small Business

Tax for Small Business Last week I presented a webinar on preparing a budget as a small business. During the Q&A I fielded several questions about tax. As the saying goes, of two things you can be certain: death and taxes. So, for this article I decided to demystify tax for small businesses. As a business there are several different types of taxes that may apply to you. These include: Corporate Income tax (CIT) Corporate income tax is the tax imposed on all resident companies. CIT is levied at 28%, but there are exceptions: Registered Micro Businesses pay turnover tax as [...]

Tax for Small Business2020-08-04T13:00:46+02:00

Business Strategy

Business Strategy With the current topsy-turvy state of the world around us it is easy for uncertainty and fear to creep into the mind of business owners and their teams. Nothing is the same as it was 6 months ago and we are all still awaiting with abated breath for the so-called new normal to take hold. So how then do we tame this bucking horse, regain focus and get back to business? I suppose mindset would play a vital role. But taking action needs to follow closely. We need to wave this reactive space we have found ourselves in of [...]

Business Strategy2020-07-21T10:49:44+02:00

Revisiting your Budget in uncertain times

Revisiting your Budget in uncertain times 2020 thus far has certainly proved a year filled with some unexpected turns and tribulations. For most businesses the far-reaching effects of the COVID-19 pandemic has had a severely adverse impact on their financial wellbeing. Whatever budgets and cashflow projections were done pre COVID will have to be updated and adjusted, but with so much uncertainty still about where do we start? First step is to pull out the latest budgets and cashflow projections and to assess how far we have veered off course. Remember that your budget needs to account for fixed and variable [...]

Revisiting your Budget in uncertain times2020-07-21T10:41:44+02:00

What is Business Optimisation?

So, what is Business Optimisation and what is the big hype about it? Let me tell you my view For the last number of years I have worked with more business owners than I can remember, many of them firmly imprinted in my mind. What I found working with these amazingly talented, tenacious and often inspiring individuals is that we all have the ability to do many things but for the most part we truly excel at only a few things, and that is our superpower. I also learned that what made businesses hugely successful wasn’t only the vision and the [...]

What is Business Optimisation?2020-07-21T11:19:00+02:00