So, you wanted your own business. You wanted the freedom of being your own boss, of doing what you love and having more free time to enjoy life. But your business is no longer a labour of love – it’s taken over your life. You work harder and longer hours than ever before.
The result: you no longer enjoy the work you do and no longer want to be your own boss. Don’t give up yet! It might be that you just have to adapt your expectations or the way you ... (More)
So you’ve enjoyed the festive season – taken your clients for year-end lunches, thanked them for their business and even got new business leads.
But now the new year is already in its second month and, for small business owners, this can be a grim time to manage cash flow. Here are tips on how to manage cash flow and effectivel... (More)
Turning a good business broker into an invaluable asset in your aspiration to become a good business owner.
You’ve been thinking about it, talking about it with family and friends, researching it and even dreaming about it, and you’ve decided that the time is right - you want to buy a business and be a bus... (More)
Many business owners struggle to go on holiday during the festive season, even though it’s essential for everyone to find time to switch off and recharge. One way to help you relax and take a break is to have a business continuity plan. Here are a few tips to help you and your business survive the summer holiday.
PLANNING Because you know the festive season dates well in advance, you can create a plan that will help you organise and prioritise tasks. The key is to start as early as possible, so y... (More)
Obtaining finance for the acquisition of an SME is an extremely difficult exercise in the current economic environment. Perhaps the following five practical ideas may assist (both the buyer and seller) in concluding a successful transaction.
1. Seller Finance Numerous business sales involve the seller to provide some form of financing by means of retaining equity in the firm and being paid out of the profits over a period of time. This i... (More)
A question that is asked many times is whether the loan agreement, mortgage or credit facility on offer is regulated by the National Credit Act.
The importance hereof relates to the responsibility towards the moneylender (the Bank) and the rights and obligations afforded to the borrower (you). An easy guide to answer the question is to follow... (More)
A strong marketing strategy is a key factor for entrepreneurs to gain new business. But it can be somewhat daunting, if you are unsure of how to approach such a plan. That is why we’ve compiled a list of tips to get you started.
Before you consider different marketing solutions, put some thought into who your target market is, what your competition is doing, how you can improve on their strategy, and how much time and money ... (More)
As an entrepreneur, keeping expenses down is always a key consideration. This can be complicated if you take into consideration the skills and systems you have to invest in for functions such as HR management, finance, marketing and IT.
By contracting out certain processes or special skills that your business needs instead of managing it in-house, you can significantly reduce employment and infrastructure costs. What are the benefi... (More)
When selling your business there are various aspects you need to consider, of which one is capital gains tax (CGT). When selling your business, this event is considered for all tax purposes as the disposal of an asset.
The income received from the sale of your business is also often subject to other tax-types. Keep in mind that the full proceeds of the sale will not be subject to CGT, but only the “capital” portion... (More)
Buying versus renting business premises – it is an argument that’s been around for a very long time, and it will probably be around for some time to come. Here are some pointers to guide you if you are faced with this decision.
Property rights Owners have more freedom to use the property as they please. For instance, if there is enough space on the premises for an additional business, you can supplement your income by lea... (More)