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  • March | 2012 | CORP
    off this problem small businesses owners must either be heavily capitalized or be able to pick up extra income to shore up cash reserves when needed This is why many small businesses start out with the founders working a job and building a business simultaneously While this split focus can make it difficult to grow a business running out of cash makes growing a business impossible Money management becomes even more important when cash is flowing into the business and to the owner Although handling business accounting and taxes may be within the capabilities of most business owners professional help is usually a good idea The complexity of a business books go up with each client and employee so getting an assist on the book keeping can prevent it from becoming a reason not to expand Fatigue The hours the work and the constant pressure to perform wears on even the most passionate individuals Many business owners even successful ones get stuck working much longer hours than their employees Moreover they fear that their business will stall in their absence so they avoid taking any long breaks away from work to recharge When fatigue sets in the weariness with the hours and the results can lead to rash decisions about the business including the desire to abandon it completely Finding a pace that keeps the business humming without grinding down the owner is a challenge that comes early and often in the evolution of a small business Founder Dependence If you get hit by a car is your business still producing income the next day A business that can t operate without its founder is a business with a deadline Many businesses suffer from founder dependence and this dependence is often caused by the founder being unable to let go of certain decisions and responsibilities as the business grows Meeting this challenge is easy in theory a business owner merely has to give over more control to their employees or partners In practice however this is a big stumbling block for founders because it usually involves compromising at least initially on the quality of work being done until the person doing the work learns the ropes Balancing Quality and Growth Even when a business is not founder dependent there comes a time when the issues from growth seems to match or even outweigh the benefits Whether a service or a product at some point a business must sacrifice in order to scale this may mean not being able to personally manage every client relationship or not inspecting every widget Unfortunately it is usually that level of personal engagement and that attention to detail that makes a business semi successful Therefore many small business owners often find themselves tied to these habits to the detriment of the company s growth There is a large middle ground between shoddy work and an unhealthy obsession with quality so it is up to the business owner to navigate the company s processes towards a

    Original URL path: http://soleproprietor.corp.co.za/2012/03/ (2015-12-05)
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  • January | 2012 | CORP
    small businesses to reconsider their reluctance in employing inexperienced job applicants Presently employees who are incapable of performing can only be dismissed from employment after the employer had determined that 1 the employee failed to meet the required work standard 2 the employee was aware of the standard 3 the employee was afforded sufficient opportunity to meet the standard and 4 dismissal is the appropriate sanction This process is not always clearly understood by employers frustrated by an employee that is clearly not able to do the work Botes explains According to a labour survey conducted by the Institute of Race Relations fifty one percent of South Africans between 15 and 24 are unemployed The legislature brought some relief to employers in 2002 when introducing a lower threshold against which employers are tested should they dismiss a probationary employee for poor performance Schedule 8 Item 8 to the Labour Relations Act 66 of 1995 Botes notes that if the intention is truly to get businesses to act as institutions of learning where on the job training is provided to workers fresh from school university or colleges a relaxation of the strict rules against dismissal for poor performance for first time job seekers may be the way to go Employers are often reluctant to grow their business where such growth requires the hiring of new staff One of the reasons for this is that it is difficult for the average employer to dismiss staff who is thought to be capable of doing the work required but could then not come to grips with the work once employed If employers are able to readily terminate the service of new recruits who lack the necessary experience they may be more inclined to give such youngsters a chance in the first place Botes thinks that employers and needy job seekers may both be pleasantly surprised by the results If an employer knows that it can terminate the services of a new job seeker at will or whilst being tested against for reasons that are automatically unfair only the employer may decide to provide employment to a larger group of staff than those actually required knowing that it can retain the best of them after a short trial period While the rest of the workers who were not the best at the tasks may then fail to remain employed with the same employer they would have gained invaluable experience which may assist them greatly in obtaining further employment The difficulty in getting that into the employment market presents a huge obstacle to our goals of meaningfully reducing unemployment He adds The current high hurdles laying in the path of employers before being able to dismiss employees for incapacity due to poor performance has not incentivised employers to become institutions of on the job training A different approach is needed if business is expected to actively assist in addressing our skills shortage via School leavers would gain more employment if SA labour law was amended Political

    Original URL path: http://soleproprietor.corp.co.za/2012/01/ (2015-12-05)
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  • December | 2011 | CORP
    really successful at whatever it is they are doing and love it It s then very easy to lead people when they are excelling at what they are doing A big part of being a leader is humility It s always been important to me to not delegate the job that nobody wants via The secret of success Daily News Opinion Related articles The Secret to Success in Trading michaelowuor wordpress com Posted in Entrepreneur Leave a reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor Quick reference Start a business today 7 Small Business Ideas For 2013 Recent Comments CORP Admin on Company Registration Shelf Company Business Registration Office on Trading as Archives September 2013 August 2013 July 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 June 2012 May 2012 April 2012 March 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 Categories Accounting Angel investors Apartheid Racism Astrid Ludin audit firms banking BCEA Big Business Black Business Branding Business business ideas business tips Cape Town cc Cell C CIPC cipc co za

    Original URL path: http://soleproprietor.corp.co.za/2011/12/ (2015-12-05)
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  • November | 2011 | CORP
    some of the credos to creating a more meaningful dialogue on entrepreneurship Behaviour 1 via How challenger brand thinking can be used for entrepreneurship Posted in Entrepreneur Tagged Adam Morgan Apple Cape Town City Hall Entrepreneurship London Nando Nike Pepsi Leave a reply How to cover your small business Posted on 19 November 2011 by admin Reply Glass damage to shop fronts and sign writing at your premises could be costly to repair Accidental damage to the glass would be covered Fidelity guarantee this is where the business insures itself against losses as a result of employee fraud Accounts receivable a business can insure possible losses if for example the business is destroyed in a fire no records of accounts have remained and the business is unable to establish the amount due to them Goods in transit many businesses transport and deliver goods produced or sold Make sure that you are covered in the eventuality of accidents or hijackings that could damage or destroy the goods being transported via How to cover your small business Business LIVE Related articles Business insurance news Late payments destroying small firms premierlinedirect co uk Why you need insurance coverage for your small business hiscoxusa com Business insurance news Banks still not lending to small firms premierlinedirect co uk Commercial insurance news Businesses cautious about the future premierlinedirect co uk Posted in insurance Small Business SMME Tagged Accounts receivable Business Business and Economy Federation of Small Businesses Financial services Insurance Small and medium enterprises Small business Leave a reply Search Recent Posts Sole proprietorship background Government continues to disrupt business Sole Proprietor Quick reference Start a business today 7 Small Business Ideas For 2013 Recent Comments CORP Admin on Company Registration Shelf Company Business Registration Office on Trading as Archives September 2013 August 2013 July

    Original URL path: http://soleproprietor.corp.co.za/2011/11/ (2015-12-05)
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  • October | 2011 | CORP
    in life has pros and cons All good things have limitations The aim is to IMPROVE your overall position by taking a certain action The question therefore is Will a CC PTY IMPROVE my overall position Pros Can pay less tax if you and your accountant know what you re doing Can limit your liability Can protect from sequestration Can improve public image Can boost personal motivation Can stimulate business Can make more money PTY conceals ownership Cons You need to follow the rules of running a CC Company laid out in the CCs Companies Acts not difficult if you understand how we help you to understand and so can your accountant lawyer PTY annual audit fee can be somewhat higher than annual fee for CC Sole Proprietor this is mostly regarded as being well worthwhile for the benefits experienced from the Pros above For more Pros and Cons see our Comparison Table How does a CC or PTY protect me from loss of personal assets If the car you use for CC purposes is in your name not in the CC s name and the CC hires the vehicle from you and the CC is unfortunately liquidated say because the government changed the law which made your kind of business inoperable and you were unable to pay creditors the CC s creditors will not be able to take your car This applies to other assets in your name like your house bed etc That is assuming that you did not sign surety for the CC s debts If the car is in the CC s name and the CC is liquidated you will lose the car You need to try keep yourself clean as unencumbered as possible because if your estate is sequestrated you will lose your car and your CC How does a CC or PTY protect me from risk factors such as public liability If you are doing a garden landscape through your CC Glitzy Garden Landscapers CC and your quote contract etc are all in the name of the CC with registration number etc then if by accident one of your workers say reverses into your client s child killing the child then the client will only be able to sue and claim from the CC If the CC is being operated as a trading shell completely legal and you have all your backactors graders cutters ploughs trimmers etc NOT in the CC s name then the client can sue the CC the client can t sue you the contract is with the CC for millions of dollars rands get maybe a few dollars rands from the CC bank account and that s all The client can even liquidate the CC you will probably only lose a little money you will need another CC for the next day s trade then you carry on with your business through another CC with all your assets equipment etc in tact This is legal and quite ethical Accidents happen and why should you suffer unnecessarily for an accident After all you did not wish it or do it on purpose If you did not operate through a CC or PTY the client suing you would mean your estate would be sequestrated and you would lose all your personal assets house boat bike bed the lot With your CC PTY you don t lose anything And that dear reader is the power of the CC And PTY How can a CC or PTY make me more profit Firstly the impact of the organising effect of registering incorporating your business often results in improved image and greater productivity for both owner and business This usually leads to more profit being made Generally as a registered entity it is easier to deduct various expenses which the revenue service might otherwise dispute such as a portion of your rent for business purposes etc More deductions like this means more money in your pocket How can a CC or PTY help me pay less tax Generally as a registered entity it is easier to deduct various expenses which the revenue service might otherwise dispute such as a portion of your rent for business purposes etc More deductions like this means less tax and more money in your pocket Also see our Comparison Table for the tax efficiency of CCs and PTYs How do you write a Business Plan With a lot of effort concentration and know how It is not just a matter of placing a bunch of facts on paper A good business plan requires certain qualities accuracy of information and figures clear presentation and wording market and business insight Click here to get help with a Business Plan How do I issue a CC member certificate After acquiring your CC print our free sample certificate fill it in and sign it get it signed How do I change the name of my CC or PTY To change your CC s name use our handy online application form To change your PTY s name email your request to us giving all relevant details about your PTY How do I change the purpose of my CC or PTY To change your CC s purpose use our handy online application form To change your PTY s purpose email your request to us giving all relevant details about your PTY How do I change the members of my CC or PTY To change your CC s members use our handy online application form To change your PTY s members shareholders email your request to us giving all relevant details about your PTY How do I change the directors of my PTY To change your PTY s directors email your request to us giving all relevant details about your PTY How do I change the registered addresses of my CC or PTY To change your CC s registered addresses use our handy online application form To change your PTY s registered addresses email your request to us

    Original URL path: http://soleproprietor.corp.co.za/2011/10/ (2015-12-05)
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  • September | 2011 | CORP
    take care of her family full time and nothing else And banks do not believe in funding entrepreneurs who are female When you go to the banks they do not believe you are capable of doing it Men are the only people who can succeed in running a business We are supposed to be employed or in the kitchen When you come with a business plan to a bank they resist they don t believe it will succeed Eventually a bank agreed to give her a R30000 overdraft They were better than other banks which rejected me altogether They didn t even want to hear my story Mzizana is outraged that institutions the government started with the express purpose of financing small businesses and which are forever trumpeting their achievements in this area showed her the door as quickly as any of the commercial banks These are organisations that claim to be helping women s businesses They are actually not doing that at all That s why there are no women businesses that are successful They open and within one year they ve closed down If you keep going for five years you ve done very well as a woman via Dice loaded against black women in business Business LIVE Related articles Ammunition for your Business Plan tominvestor wordpress com Do You Have a Bag Lady Business Plan blogher com How to Become a Successful Business Woman thinkup waldenu edu Common Mistakes in a Business Plan Competition davidcummings org Weekly Wrap Women Entrepreneurs and the Death of the Like Button myventurepad com Posted in BCEA Black Business Labour Law Small Business SMME Women Tagged Africa Business Business plan Loan Small business Small Business Administration Stellenbosch University University of Pretoria Leave a reply Success for SA designer Posted on 23 September 2011 by admin Reply Image via Wikipedia Johannesburg South African born fashion designer and entrepreneur Lesego Malatsi has gone from stitching ready to wear garments in a Soweto township mall set amid shanties to savouring the sweet success of London s fashion week Malatsi had his first international show at the weekend in the British capital where he displayed a collection of new look African prints at the Fashions Finest event backed by Richard Branson s Virgin Unity initiative Honestly you don t know how to prepare Malatsi said from London in a telephone interview with Reuters Malatsi has taken a long road to London that started in a tiny home in Soweto He first tried his hand at accounting after leaving high school but a stint at a cosmetics company altered his career aspirations It changed my mind and how I saw things he said He then studied fashion at the Cape Peninsula University of Technology and has been making clothes since via Success for SA designer Fin24 Entrepreneurs Related articles Soweto designer Lesego Malatsi aims to conquer the fashion world guardian co uk SA Fashion Week Edgars theturquoisescarf wordpress com SA needs to start more businesses readyco wordpress

    Original URL path: http://soleproprietor.corp.co.za/2011/09/ (2015-12-05)
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  • August | 2011 | CORP
    the consumers get to decide which of the three Rs a refund replacement or repair they want via Consumer Protection Act explained South Africa Posted in Business CPA Customers Clients Tagged consumer refund repair replace Leave a reply Business in Population Management Posted on 5 August 2011 by admin Reply Global population numbers are on track to reach 7 billion in 2011 just 12 years after reaching 6 billion in 1999 Virtually all of the growth is in developing countries And the growth of the world s youth population ages 15 to 24 is shifting into the poorest of those countries The new Population Reference Bureau s 2009 World Population Data Sheet offers detailed information about country regional and global population patterns In the context of CSR I find it interesting that we talk a lot about the environment and its connections with growth and we discuss at length the use and abuse of natural resources and links to climate change Yet one of the major challenges that businesses could play a role in relates to birth control and population management via A Role for Business in Population Management Use Celsias com Posted in Business Economy Jobs Women Tagged jobs opportunities population sustainability Leave a reply IEC Electoral Commission of South Africa Posted on 5 August 2011 by admin Reply IEC Electoral Commission of South Africa Remember at election times choose support and vote for the party to best influence the country s economy and business environment Posted in Apartheid Racism Business Economy Jobs Tagged business development job creation Leave a reply Banking association and Khula in deal to help small business Posted on 5 August 2011 by admin Reply SMALL scale enterprises could now enjoy better access to financial services and low financing costs following the signing of a co operation agreement between state owned developmental funding agency Khula Enterprise Finance and the Banking Association of SA Basa Small businesses in the country are regarded as the main contributors to job creation something that SA with an unemployment rate of 25 by some measures is working hard to encourage Khula and Basa said they would endeavour to facilitate the formation of a credit bureau for small and medium enterprises the first of its kind in Africa and would provide access to an information portal for small businesses They would also conduct research facilitate skills transfer assist in the development of a national mentorship programme and promote financial literacy In April Economic Development Minister Ebrahim Patel told Parliament Khula was to become a wholly owned subsidiary of the Industrial Development Corporation IDC with a budget of R2 8bn this year It would incorporate the South African Micro Finance Apex Fund as well as the IDC s small business loan book Khula is SA s main small business financing vehicle but has been hampered by underfunding and until recently its restriction to wholesale financing Its agreement with Basa comes at a time when banks are often seen as doing too little

    Original URL path: http://soleproprietor.corp.co.za/2011/08/ (2015-12-05)
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  • July | 2011 | CORP
    will increase by 38c per kilogram via BusinessDay Petrol to increase by 17c next week Posted in Big Business Entrepreneur Gov Office Small Business SMME Leave a reply Department of Home Affairs Posted on 29 July 2011 by admin Reply Firstly the DHA is custodian protector and verifier of the identity and status of citizens and other persons resident in South Africa This makes it possible for people to realize their rights and access benefits and opportunities in both the public and private domains By expanding these services to marginalized communities the department plays is a key enabler in deepening democracy and social justice Secondly the DHA controls regulates and facilitates immigration and the movement of persons through ports of entry It also provides civics and immigration services at foreign missions and determines the status of asylum seekers and refugees in accordance with international obligations The department thus makes a significant contribution to ensuring national security enabling economic development and promoting good international relations Department of Home Affairs Posted in Apartheid Racism Gov Office Jobs Tagged investment Leave a reply Department of Social Development Posted on 28 July 2011 by admin Reply Vision A caring and integrated system of social development services that facilitates human development and improves the quality of life Mission To enable the poor the vulnerable and the excluded within South African society to secure a better life for themselves in partnership with them and with all those who are committed to building a caring society Values The people we serve come first in performing our duties We will ensure equity and freedom from discrimination and harassment in the workplace and in the services provided by our department We will workin partnership with the people we serve and with other stakeholders We will use the resources entrusted

    Original URL path: http://soleproprietor.corp.co.za/2011/07/ (2015-12-05)
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