Money & finance

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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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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How economic trends are shaping SA franchising

As franchising continues its steady growth in South Africa, economic trends are shaping the development of the franchise sector in interesting ways, says Gerrie van Biljon, executive director at Business Partners Limited (BUSINESS/PARTNERS). Franchising in South Africa already boasts solid numbers: there are 627 franchise systems totalling 39 000 franchise outlets in the country; they contribute 12.5% to South Africa's GDP, and provide work fo...
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Six ways to improve your business budgeting

At the best of times, budgeting is one of the most important habits that separates thriving business owners from the mass of plodders and stragglers. When times are tough, the ability to budget becomes a matter of survival. Jeremy Lang, regional general manager of Business Partners Limited, offers six tips on better budgeting that will help business owners survive the straitened times ahead: 1. Get your budget out of your head and onto paper:...
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SA entrepreneurs look towards Budget for much-needed relief

Like a farmer staring up to a tiny cloud in a parched sky hoping that it will grow and bring rain, South Africa's business owners are eagerly looking towards the upcoming Budget speech for anything that might relieve the discomfort of the current climate. It is significant that the man who will be making the speech, Finance Minister Pravin Gordhan, is the one who was brought in to fix a crisis that shook business owners to their very core. So ...
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How to make the most of the months of extremes

December and January tend to be months of extremes for South African business owners. Either business dries up to levels where it is hardly worth staying open, or the work floods in at such quantities that you might come close to drowning. Both experiences can be very uncomfortable for entrepreneurs and dangerous for their ventures, but at the same time, both sets of entrepreneurs must learn how to handle the silly season in such a way that they...
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Six essential tips for sound business budgeting

A business without a working budget is like a car without a fuel gauge – it will drive for a while, but will run out of fuel when the driver least expects it. How can business owners put their budget, that most basic of business tools, to best use? Anton Roelofse, regional general manager of Business Partners Limited (BUSINESS/PARTNERS), has six essential tips for sound business budgeting. Be realistic The basis of every budget is an estimate...
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How much profit did you make?

No clue, thank you very much! Often many small, and even medium sized businesses are run by people who come from a technical background. They have what we call “technical know- how”, but they may not necessarily have the knowledge or the dedicated time to manage some other disciplines, such as human resources, marketing or financial management. How many small businesses prepare financial statements on a monthly basis? The argument i...
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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 ...
More