Independent Non-Executive Directors: A Value-Add for Your SME?

Most, if not all, entrepreneurs are passionate about their ideas or concepts for a new product or service offering. Frankly, they need to be. Once the business is up and running it is easy, and quite natural, to be so focused on your idea and business and the busyness of the operations and activities, that emerging risks or opportunities may not be seen or anticipated – ‘not seeing the wood for the trees’. Having an advisor or advisors may, of course, help. However, an independent non-executive director has, by virtue of their responsibilities on the board, a stake in the survival and growth of the business. Furthermore, as they are not involved in the day-to-day operations, they can bring valuable perspectives to the table.

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The Benefits of Outsourcing to the Experts

With the uncertainty of how long the COVID-19 will continue and the current state of the SA economy, many business owners are looking for ways to cut costs. One such way is often moving skills inhouse, however this is not advisable. Here we breakdown four main reasons you would want to contract outsourced services and how leaving it up to the experts can actually be invaluable.

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Provisional Income Tax Due 26 February: Do’s and Don’ts for Companies

By the end of this month, the second provisional income tax payments for companies are due for a financial year that certainly ranks among the most difficult in recent memory – a year in which many business owners realised, as Thomas Dewar once put it, that paying income tax is in fact better than being unable to generate sufficient income to be liable for tax. As companies face intensified scrutiny and more punitive measures from SARS in 2021, we take a look at the issues around the provisional tax payments for companies, due on 26 February to find out what companies should - and should not - be doing to minimise their tax liability and to avoid the hefty penalties and interest that can apply.

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