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STRATEGIES FOR CASH FLOW
Your Business. One of the major challenges facing small and medium-sized enterprises (SMEs) in South Africa, is cash flow due to increased debtors and bad debt. The survey showed that to some extent, small businesses rely on banks to meet their cash flow requirements, with 15% of businesses having taken out a loan within the
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TO CATCH A THEIF
For business owners, identifying payroll fraud and then being able to collect the necessary evidence to be able to stop this from continuing is about putting checks and measures in place… One of the biggest tips for small business owners is to become suspicious if a member of your payroll department never goes on leave,
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CURBING A GLOBAL PHENOMENON
By: Anton van Heerden To create a sustainable business and prevent economic crimes such as fraud, the best place to start is to understand the human psyche. Believing that a person capable of crime can be stereotyped is probably the first mistake. Typically, most small businesses don’t believe that they are susceptible to fraud and
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SUCCESSFUL SUCCESSION
By: Louise Le Riche Traditionally, family-owned firms were handed on to the oldest son in the family. A more modern and realistic approach, however, is to hand over the control to the most suitably qualified person in the family or, in the absence of such a person, to the most suitable non-family member in the
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EMPLOYMENT EQUITY IN THE WORK PLACE
By: Nkosinathi Buthelezi Why employment equity South Africa has a legacy of discrimination in relation to race, gender and disability. The legacy saw access to opportunities denied in relation to education, employment, promotion and wealth creation to the majority of South Africans. The Employment Equity Act 55 of 1989 (EEA) was passed to address this
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CAN YOU JUST SAY “NO”?
By: Claire Stewart We’re living in tough economic times. Big businesses are retrenching and some firms are even going under. SMEs are also battling, business is slow, sales are down and cash-flow is tight. Companies big and small are searching for ways to cut costs with many slashing jobs to achieve this. And it doesn’t
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SMART BOSSES
By: BRETT TROMP I once heard a line of leadership advice that seemed so counter-intuitive in theory, and yet produced such brilliant results in practice, that I never forgot it. I was told: “Always be smart enough to hire people brighter than yourself.” At first, I was a little taken aback. In the dog-eat-dog world
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MANAGING YOUR BUSINESS BANK ACCOUNT
The next logical step after properly registering your business is to open up a bank account in the new company’s name. Remember you are now a totally separate entity from your business and as such you cannot (and should not) mix the monies of the two in fact you are required by law to have
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PUT SYSTEMS IN PLACE
Having proper policies, procedures and processes in our business lives is essential. They are critical to ensure that your business remains sustainable irrespective of whether you are a one-man show, have staff or stock or company cars, or sell products or services. There are many business functions that need to be performed repeatedly, in the
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GIVING EMPLOYEES FEEDBACK
Recruitment and selection is not an exact science. Even when it provides exactly the right candidate for a job, it is only the starting point in the process of ensuring that a person performs to the best of their abilities. Managing the performance of people is one of the most important roles you have to
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