Money & finance

Tax terms defined

Before you try to get your taxes in order, it's important be familiar with the technical jargon you're about to be bombarded with. This glossary of tax terms can help you get to grips with that complicated language called Tax. When dealing with your company's taxes, you may feel you need a dictionary for the tax-speak, and explanations for the explanations. Below you will find an alphabetical list of terms you might come across when f...
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‘Now is the time for a pro-SME Budget’

In year that promises better economic growth than that of the past few miserable ones, South Africa’s business owners are likely to follow this month’s tabling of the national Budget with more interest than usual, says Siphethe Dumeko, Chief Financial Officer at Business Partners Limited, the leading local risk financier to small and medium enterprises (SMEs). Any measure that can boost the economy beyond the projected 1.1% growth fo...
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Assessing your company’s financial position

If you're not so clued up about the accounting and financial side of your business, you may not realise how an in-depth financial analysis can benefit your company. Learn how to get the most out of your financial information. You may think that because you have good bookkeeping and accounting processes in place and your cash flow is under control, you can sit back and relax. Unfortunately, you'd be wrong. This is the perfect time to do an in-...
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How good is your credit rating?

No matter what kind of business you have, there will probably come a time when you have to apply for a loan or overdraft to expand your business, buy equipment or finance some other aspect of your operations. This is when having a good credit history becomes very important. Establishing and maintaining a good credit record takes time and can be challenging when times get tough (financially). Paying your debt on time will help you develop a good...
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Batteries recharged? Now is the time to reflect and plan

Business owners who have been lucky enough to pinch a week or two off in December are probably about as rested and fresh as they are going to be for the next twelve months or so. There is no better time for them to take a good look at their business and assess its readiness for the year ahead, says Jeremy Lang, regional general manager at Business Partners Limited. It doesn't matter if your financial year starts in March, which offers anoth...
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Meteorological and economic drought poised to end in 2017

Just like the latest rains hold the promise that at last the drought may be broken, the signs are everywhere that South African business owners can, for the first time in quite a while, look forward to a year in which the economy will start flowing forward again, says Ben Bierman, Managing Director of Business Partners Limited. In fact, the breaking of the drought is one of the factors that makes Bierman optimistic that the local economy can ach...
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Taking holidays seriously

In the mind of many entrepreneurs there is a short-lived conflict that flares up at least once a year when the family starts making plans for the holiday. On the one hand, they know that a holiday would do them good. On the other hand, there are a million issues still to sort out in the business. Inevitably, the business wins the argument, because those million issues that need to be sorted out are always loud and urgent and the consequences of...
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Getting to know your target market

To ensure that your business idea stands out from the rest, it is important to know your target market. This can be done by considering the following questions first: Is the market saturated? Does your area really need the services you are offering? What is the competition offering? What do they do well? What’s unique about them? Can you reach your target audience? Once you are sure of your business idea, you need informa...
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Your employees are the first impression

A major aspect of doing good business is that all-important "competitive edge". But don't look too far afield for ways to do this. Your biggest selling point could be the face your business presents to the outside world, and most often, that would be your employees.  A company's image can be its greatest asset or its biggest downfall. Large corporate companies know this too well and spend huge amounts of money on their c...
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Everyone has a role to play in stimulating entrepreneurship

Very often, any discussion about stimulating entrepreneurship devolves into a litany of things the government should be doing, but in reality there is very little that government can do on its own to persuade more South Africans to start their own businesses, and to support them to grow and prosper, says Byron Jeacocks, Business Partners Limited regional general manager. Entrepreneurship is everyone's concern – parents, teachers, accountan...
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