Category Archives: Business

SO, YOU WANT TO START A BUSINESS? FIRST CONSIDER THE FOLLOWING FACTORS

Often people say wistfully “I wish I had my own business”. Some of them take it further and decide what kind of product or service they will offer. A last few go as far as putting pen to paper to … Continue reading

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REMOVING DIRECTORS OF A COMPANY

The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board, which has the authority to exercise all of the powers and perform any of the … Continue reading

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FINANCIAL ASSISTANCE TO DIRECTORS

A company lending money to its directors may not be as simple a process as it may initially appear to be – not even in the case of so-called “one-man” companies. There is various requirements in the Companies Act, 71 … Continue reading

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DIRECTORS’ DUTIES

Most individuals involved in the business sector consider it an honour to be appointed a director of the company with which they are involved. And so they should. Prospective company directors need, however, to be aware of the awesome duties … Continue reading

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BUSINESS ETHICS

There is a misconception that if a business complies with all legal requirements, it also has good business ethics. However, legal compliance does not automatically equate to morally sound business practices. A member of management or an employee’s conduct may … Continue reading

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10 FINANCIAL TIPS FOR SMALL BUSINESSES

In the current economic climate effective management of your business’s finances is more important than ever. The following tips will assist you in managing the finances of your business effectively: Keep a record of your transactions Be sure to always … Continue reading

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THE COMPANIES ACT’S SOLVENCY AND LIQUIDITY TEST

The solvency and liquidity test in section 4 of the Companies Act, 71 of 2008, presents arguably one of the most important requirements of that Act. Without a company satisfying this test, the company cannot declare dividends, cannot provide loans and … Continue reading

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DUE DATES PUBLISHED FOR SUBMITTING ANNUAL AND INTERIM EMPLOYER RECONCILIATIONS

On 15 April 2016 the Commissioner for the South African Revenue Service (SARS) announced the due dates whereby employers are required to finalise and submit their annual and interim Employer Reconciliation declarations to SARS. The notice, published on 15 April … Continue reading

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BASIESE REGISTRASIES EN NAKOMING VIR BESIGHEDE

Vir enige besigheid wat in Suid-Afrika sake doen, is dit ‘n uitdaging om op die hoogte te bly van alle vereiste registrasies en nakoming wat deur wetgewing en ander regulering voorgeskryf word. Hier volg ‘n opsomming van die mees algemene … Continue reading

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HOW TO DETERMINE THE SELLING PRICE WHEN BUYING OR SELLING A SMALL BUSINESS

It is difficult to determine the selling price of a small business as such a valuation is very subjective. If you are buying a small business, you want to pay as little as possible, and if you are the seller, … Continue reading

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