If the thought of financial statements, trial balances, or audits is enough to make your head spin, you’re not alone – most entrepreneurs admit that accounting is either too complicated to understand or too boring to pay attention to.
Whether you’re confused by accounts or just don’t have time to spend on keeping track of payments and purchases, it’s still vitally important to keep an eye on your company’s books. Even the most dynamic entrepreneur may run into trouble if a cash flow problem develops in their business, or if a dishonest employee is doing financial damage to the business without the owner’s knowledge. Continue reading
January is the month when a lot of people avoid opening their credit card statements, and for good reason – the December spending spree creates a nasty debt surprise for millions of people around the world every year.
December is the month when most South Africans overspend, with year-end coastal holidays, Christmas, and the new school year taking a serious bite out of most family finances. Despite many workers receiving bonuses in December, it’s rare to meet someone who starts the year with solid finances – let’s aim to be that rare person. Continue reading
Do you have a will, and if so, when was the last time you checked it to make sure it’s up to date?
If you can’t remember the last time you looked at your will, it’s probably time to update it – here are some reasons why. Continue reading
Off-shore investments are a popular choice for South African investors who want to take advantage of high-growth economies overseas or protect themselves against fluctuations in the Rand exchange rate. With the benefits that offshore investments seem to offer, is it always wise to invest a lot of your capital outside South Africa? Continue reading
If retirement planning is the last thing on your mind, you may want to stop what you’re doing right now and answer this question – Will you have enough capital to retire by the age of 60, or will you be forced to rely on a South African state pension? Continue reading
Every entrepreneur wants to see their business grow over time, with a bigger customer base and new products or services that will generate better revenue and profits. While the path to success in business may require you to think big, it’s often achieved in small ways first – here are some business strategy ideas that any entrepreneur can use. Continue reading
Whether you’re self-employed or work for someone else, there are several types of business travel expenses that you may be able to deduct when you file your tax returns. If you are new to deducting travel expenses, or are wondering exactly what can be deducted, here is a quick guide that should put you on the right track. Continue reading