Month: February 2020

NatioNAL bUDGET SPEECH 2020 : What it means for small business

The national budget speech of South Africa was presented on 26 February 2020. In this article, we will be covering the most important points that are in this year’s budget speech. Firstly we will look at the revenue which amounts to 1 344 796 trillion, this is a 4% decrease from last year’s Budget Speech: …

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Why does my Accountant tell me have made a profit when i have no money in the bank? Profit vs CASH-FLOW

As an Accountant, we present different financial reports for different purposes. To start with let’s look at what is Profit and Loss in accounting terms. Profit is a financial gain, especially the difference between the amount earned(Sales) and the amount spent(expenses) in buying, operating, or producing something. Loss is when expenses exceed the income or total revenue or sales I believe you have heard …

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How to register a Company In South Africa ?

Businesses that wish to transact with government and the formal sector, or that wish to access certain types of government support, are generally required to be registered with the CIPC (Companies and Intellectual Properties Commision). For these businesses, there may also be tax benefits to registration, as registered businesses have a lower tax rate than …

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Financial Skills for SBCs

With the business environment becomes ever more increasingly comparative are small businesses able to compete and grow. Many challenges small businesses have is the lack of Financial Skills to propel them in the right direction of growth. In this day and age financial skills have become more important that knowing your trade as these skills can determine if your business floats or sinks