5 New Year’s Resolutions for Business Owners in 2018


For many, the new year is the perfect time to take stock and set goals for the next 12 months. To eat better, exercise more, or finally take that calligraphy class you’ve been talking about forever. For business owners, making new year’s resolutions can significantly impact their success. Here are 5 new year’s new year’s resolutions for business owners in 2018.

1. Communicate Better

This is a focus on quality over quantity. Sure, you can blast out 10 Facebook posts a day and retweet all night long but could you connect with your current and potential future clients even better by doing less? Focus on posting interesting, timely information instead that encourages your audience to interact with you. Respond to comments on your posts and leave some on other’s pages. Take the time to make a few real connections every day instead of trying to reach everyone at once.

2. Prioritize Balance

The workday for a small business owner doesn’t always end at 5 pm on a Friday and pick up at 9 am on Monday. In order to continue being the successful professional you are and to avoid burnout, be sure one of your new year’s resolutions is to take the time you need to recharge. Exercise, spend time with people you care about and get some sleep at night. Carve out time for yourself and you’ll find your mind is more refreshed and your body is more energized.

3. Help Out

Think back to when you were first starting out your career. You were probably excited and hopeful while simultaneously feeling nervous and unsure. Did you have support, or could you have used more? Reach out to someone in your industry just starting out and who could use mentoring or a sounding board for advice. Your generosity will not go unnoticed, and you will be seen as both an expert in your field and as a person people want to work with.

4. Be Proactive

As you think about your new year’s resolutions for 2018, start thinking about 2019, 2020, and beyond. This task can seem daunting, so start by making a list or marking up a calendar. Write out what you’d like to see your business become or what goals you’d like to achieve (both personal and professional) and what steps you can take to make those dreams a reality. Use this plan as a motivator to stay on track with goals throughout 2018.

5. Delegate

You’re a smart, accomplished professional with your own business. You’re used to doing everything yourself, but should you? Delegating can be difficult, especially for those who are used to wearing every hat needed to run a business, but delegation can open you up to focusing on what you love and what you do best. Take a step back at your business and look at the big picture: What do you dread doing? What do you think you could do better? What overwhelms you? The answer to these questions may lead you to work that you can and should delegate to someone else.

From Outbound Engine

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The good, the bad and the ugly of late payments

Are late payments crippling your business? Why do customers think it is ok to pay late? What can you do to encourage people to pay on time?

Firstly, let’s look at the ugly of late payments, what could possibly be the reason people pay late? There are multiple reasons why people are struggling to pay you.

According to a study by Xero, late payments can be attributed to the following reasons:

Customers are waiting to be paid

This could be a perpetual circle where you are waiting for payment because your customer is waiting for payment and the person paying your customer may also be waiting to be paid. 24% of late payments are caused because of this reason.

Customers are disorganized

23% of customers acknowledged that their accounting system is disorganized and they were unsure about who they owe money to and when they need to pay them.

Customers have their own payment terms

This is probably the worst. The customers have not acknowledged your payment terms and have put their own payment terms in place for when they have decided they can pay you.

All these reasons are not good. And what effect will late payments have on a small business? In South Africa where small business is a major contributor to the economy, late payments are highly detrimental. They can cause small business to collapse and they will also prevent business from entering certain markets.

But there is light at the end of the tunnel, there are things you can do and companies who are fighting for small businesses. Here are five ways to curb late payments from customers:

Do a detailed credit check of your customer

Before going into business with someone, you may benefit from doing a credit check on the business and look at their financial history. Depending on the value of the potential client you could invest in a business check. 

Be clear about payment terms

Make sure you let your customer know clearly about what the payment terms are before you start to do business with them. You could even let them sign a contract which states your payment terms plainly.

Make accurate and timeous invoices

This is the most critical part to ensure getting paid on time. It is important that all the information on the document is correct. Confirm that you have the correct contact number and email address of the person responsible for paying the invoice. Make sure you send the invoice out directly after the job is done. Do not delay sending out the invoice as this may cause problems when it comes to payment.

Give different payment options

You may benefit by offering your client a few ways to pay. You may ask them to pay by EFT or credit card.

Have credit or savings

If your customer does struggle to pay you, make sure you have a plan B. This could be credit at your bank or you may have some savings stored up for a rainy day.

By following these steps, you could be well on your way to growing your business.

Proudly brought to you by the NSBC.

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Be your own boss today! Starting a business on limited resources

Do you want to work your own hours? Do you have a great business idea? Then it might be time to become your own boss. Being your own boss has benefits and drawbacks. Some key benefits of being your own boss are that you are able to be in control of your business and make decisions on how your business is run. You are in control of your own working style and environment. You can set your own work hours. You are able to decide where you want to work from.

The drawbacks of being your own boss are that your clients and your suppliers become your boss. They are the people who will help you to run your business, but will also ultimately decide how successful your business is. Without customers, your business will struggle. Without good suppliers, your business will struggle. So it is important to focus on these two aspects when you start out on your own.

The next aspect to consider is what resources are available to you. If these are limited, do not let this deter you from reaching for your dreams. By considering the following key criteria, you can create a successful business.

1. Keep a strict account receivables policy

It is important that you stick to a strict accounts receivable policy so that your cash flow does not dry up. By having a 30 or 60-day payment policy, you may attract many clients but you may struggle to maintain your cash flow. Therefore, it is important to set your payment policy according to what will ensure a healthy cash flow and try not to deviate from it. Let your product or service sell your business, not your payment policy.

2. Keep to the core of your business

When you start out it is important to stay true to the core of your business. You need to develop a strong core before you can think of branching out. By sticking to the core of your business you can ensure you make a product or offer a service which is supreme and will be in demand from your clients. Many corporations break away from their core, just to find out in a few years time that they are selling those parts of their business to return to the core in order to become successful again. Stick to what you do best, and do it with great vigor.

3. Spread the word about your business

Do not be shy when it comes to promoting your business. Tell everyone you know and see about the business you run. Be ready with a short elevator pitch which highlights the unique selling point of your business and why people might be interested in it. By spreading the word about your business, you can create leads and get some useful feedback from people you meet. Go out there and promote your business to everyone you meet.

4. Keep your office and staff lean

Though it would be great to have the latest and greatest equipment when you start your business, it is important to only spend money on the crucial pieces of equipment which you need to run your business. Next, only hire the human capital you need to run your business. If you can run the business with just yourself in the beginning, then do it. If you need staff, make sure you only hire the required amount so that you do not have staff standing around your business doing nothing.

By following the above criteria, you will be well on your way to being your own boss on limited funds. So grab the opportunity by the horns and live out your business dreams today.

Proudly brought to you by NSBC.

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How successful entrepreneurs make money: A case study


What do Elon Musk, Richard Branson, Steve Jobs and Oprah Winfrey have in common? They are all super wealthy and famous. But how did they come to be like this? Was it luck or hard work? Well, it is a healthy combination of both that has led to the success of these entrepreneurs. Each one of these entrepreneurs have the following traits:

They are problem solvers

When you look at these entrepreneurs, they are people who are looking for a solution to a problem. They identify a need in the market and then think of creative ways to solve it. Through being great problem solvers, they are adaptable and persevere to be successful. They capitalise on the solutions. An example of this trait can be seen in Richard Branson when he was stranded at an airport. Instead of looking at the problem, he tried to figure out a solution. His solution to the problem was to charter a plane and then sell the extra seats to his fellow stranded passengers. Thereby he got a free flight home and made a small profit.

They are passionate

Entrepreneurs have great passion for their chosen field. They are continuously reading and learning about what is going on in their industry so that they can become gurus in their field. In addition, their passion is their driving force for why they are engaged in the work they do. Many entrepreneurs work because they love what they do and not necessarily for the financial reward they will receive in the end.

They are risk takers

Successful entrepreneurs are willing to take big risks which will hopefully pay back great dividends. They hunger for the success of making money. Many successful entrepreneurs come from impoverished backgrounds and understand what it means to struggle. Therefore, they are willing to take great risks because they know they can deal with the outcome should it not be favourable.

They are hard workers

If you seek to be a successful entrepreneur there is no space for laziness. Successful entrepreneurs are constantly looking for opportunities to grow and improve their business. They work hard and work smart.

They are action takers

These entrepreneurs do not talk about the business ideas they have and then return to their day jobs. They take action. They look for ways to achieve the business goals they want. They may have limited funds but they work within their means and grow their business little by little, knowing that the wise investments which they make today will bear fruit for them in the future.

By having this combination of traits, they are able to be successful. You may wonder what this has got to do with making money, but most of these people are not overnight successes. They have worked long and hard to achieve the success that they enjoy today. So go out, be courageous, and you never you know, you may be well on your way to your first million.

Proudly brought National Small Businesss Chamber (NSBC).

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Small business equals big potential for South Africa


South African small businesses need the nation to mobilise behind them more than ever before. That’s the word from Mike Anderson, Founder & CEO of the National Small Business Chamber (NSBC). The role that small businesses play in job creation, poverty alleviation, service delivery, and wealth creation all mean that small business is big business. “Nearly two thirds of all South African workers are employed by small businesses,” says Anderson. “Small businesses also contribute a significant portion of our country’s gross domestic product, which is why we’re encouraging South Africans to lend their support to the Shop Small Movement, peaking on Small Business Friday, this Friday, 01 September – powered by the National Small Business Chamber (NSBC)”

Small businesses are the mainstay of the South African economy and the future of job creation. This all-important sector needs greater support from government, the public sector, and of course ordinary South Africans.

“Making a small change to where we spend our money can have a huge impact on small businesses, our communities and ultimately our economy,” says Anderson. The country’s high unemployment rate is well documented and its effects far-reaching.

“The advantages of supporting small businesses lie not only in making an impact on the economy, but also the positive difference it can make in uplifting local communities. Locally owned businesses help shape strong communities by keeping vital spend within small towns and cities, leading to vibrant local economies that benefit all who live there,” says Anderson. “There are plenty of advantages for consumers too, very often small businesses care deeply about the kind of customer service they deliver; knowing that quality products and personalised service is what keeps their business thriving.”

The Shop Small movement, that peaks on Small Business Friday aims to put small businesses across South Africa firmly in the spotlight, by encouraging individuals to support, visit and spend at a small business all year round, especially on Fridays, and particularly on Small Business Friday falling this year on 01 September 2016 – the first Friday of Spring.

With more support, small businesses have the potential to breathe new life into the South African economy and play an even bigger role in economic growth and job creation. “Small businesses represent countless hours of hard work, commitment, resilience and thousands of jobs. When South Africans shop small, they make a big impact. Providing as much support to small businesses as possible is an investment in our communities and South Africa’s collective economic future,” says Anderson.

“Through a sustained nationwide movement, we want to bring about permanent change in the hearts of all South Africans. We want to encourage everyone in our country to support their local small businesses all day every day throughout the year. So, when you all go out to shop, please make that all-important choice, support your local independent small businesses,” concludes Anderson. 

In the run up to Small Business Friday, the nation is invited to visit www.smallbizfriday.co.za to learn more about the movement, how to get involved, as well as how to promote their own small businesses.  South Africans can also pledge their support and stay up to date with all the Shop Small and Small Business Friday happenings via the Facebook page; www.facebook.com/SmallBizFriday and on Twitter  www.twitter.com/smallbizfriday  using the hashtag #SmallBizFriday.

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Tax Returns: Pay less and save more

They say nothing’s certain in life, but death and taxes. But there’s no reason why you can’t get savvier with your tax returns and apply savings towards a cushy retirement or other smart investments. We’ll help you better understand your tax liability, ways to reduce your tax bill, and how to save tax-efficiently in a retirement annuity.

Who has to pay tax and who has to tell SARS more about it?
We know how it goes: you start your first job, your company kindly deducts your tax and UIF, and you’re left with, well, what you’re left with. No one ever takes you aside to explain how tax works or the control you can have over it.

First off, let’s look at who has to pay tax.
For the 2018 year of assessment, you have to pay tax if:

  • You earn more than R75 750 a year and you’re younger than 65 years.
  • You’re 65 years of age or older – the tax threshold (the amount above which income tax becomes payable) is R117 300, while for those over 75, the threshold is R131 150.

You don’t have to file a tax return…
If your total salary for the year before tax does not exceed R350 000, provided that:

  • You only have one employer. Remember that if you have two employers or income sources (i.e. late spouse/partner pension income, exam markings income, rental income, moonlighting income etc.) you do need to file, even if the total is still under R350 000.
  • You have no car allowance or other income ¬– such as interest or rent, for example.
  • You are not claiming tax-related deductions like medical expenses, retirement annuity contributions, travel expenses, etc.
  • You received interest from a source in South Africa not exceeding:
    • R23 800 if you are below the age of 65 years, or
    • R34 500 if you aged 65 years or older.
  • Dividends were paid to you and you were a non-resident during the year of assessment.

Benefits of filing a tax return
Here’s a clue: tax refund.

Even if you don’t have to file a return, it’s still a good idea to do so in order to maintain a complete tax record, to obtain a tax clearance certificate should you want to take out a mortgage, and to access your retirement fund one day.

What’s more, you could be due a refund. Depending on your situation, something like working two jobs can trigger a tax refund.

Bringing down your tax burden
While you can’t evade tax, there are some ways you can lessen your income tax liability. For example:

  • Donations: Support a worthy cause like a local animal shelter. You can donate up to 10% of your taxable income to public benefit organisations (PBOs) and claim a tax deduction on this donation, provided these PBOs are registered with SARS and issue a valid tax certificate for all donations received.
  • Medical Scheme Fees Tax Credit (MTC): A fixed monthly amount, which increases according to the number of dependants you have. For the 2017/2018 tax year, you can deduct:
    • R303 per month if you are the taxpayer paying the medical scheme contributions
    • R303 per month for the first dependant
    • R204 per month for each additional dependant
  • (Indirectly) invest in a local start-up: If you want to back smaller, higher-risk trading companies, you can do so by investing in a venture capital company (VCC). Individual investors are entitled to deduct the full amount of their investment from their taxable income in the tax year. The tax relief is 41% for individuals.
  • Tax-free savings: To encourage South Africans to be better savers, SARS allows taxpayers to save a maximum of R33 000 per year and R500 000 in your lifetime tax-free. These amounts have to be saved in a specially designated fund/account without having to pay any tax on capital gains or on the interest or dividends received on these investments.
  • Pension, provident funds and retirement annuities: If you contribute towards your retirement in one of these savings vehicles, you may deduct up to 27.5% of your gross remuneration or taxable income (whichever is higher) in respect of your total contributions to a pension, provident or RA fund, subject to an annual limit of R350 000.

By Indwe Risk Services

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Hulp wanneer die lewe moeilik raak


Die eerste sin in M. Scott Peck se boek ‘The road less travelled’ (1978) is: Life is difficult… wat later opgevolg word met: Life is a series of problems…. Hierdie probleme ontlok baie gevoelens soos hartseer, woede, angs, vrees, depressie, eensaamheid, skuldgevoelens, frustrasies en dies meer wat verweefd is in ons lewensverhale. Almal van ons het unieke stories om te vertel – stories oor ons self, ons geliefdes, mense naby aan jou, die gemeenskap en selfs die diverse land waarin ons saam met ander mense woon.

In my praktyk luister ek daagliks na mense se stories – lewensverhale waartydens so baie mense verwond is, die omvang en intensiteit daarvan soms uitmergelend. Die trauma in ons land neem skrikwekkende afmetings aan. Gemoedsversteurings soos hoë angsvlakke en bipolariteit kan jouself sowel as interpersoonlike verhoudings beskadig of vernietig. Persoonlikheidsversteurings soos Borderline personality disorder of Obsessive-Compulsive Personality Disorder meng in met of beperk geslaagde interpersoonlike verhoudinge.. Mediese siektetoestande soos rumatoïede artritis gaan dikwels gepaard met erge fisiese en eventueel ook emosionele pyn en ongemak. Emosionele en/of seksuele mishandeling veroorsaak letsels wat moeilik hanteerbaar is. Die lys van probleme is soms eindeloos.

Hierdie psigopatologiese stories van die verlede kan ‘n mens so gevange hou dat dit jou gesonde funksionering in die hede belemmer. Dikwels veroorsaak dit dat die toekoms donker en uitsigloos word, sonder hoop op geluk en vrede. Soms word ek gekonfronteer met my eie gevoel van magteloosheid – hoe kan ek iemand wat so geheel en al hoop-loos is, tot hulp wees? Totdat ek weereens besef dat die plant van ‘n saadjie van hoop emosionele energie loslaat – dit help mense om uit hul vasgelopenheid los te kom. Hoop is die begin van ‘n nuwe lewe; dis die wete dat daar roetes of paaie is wat lei na emosionle genesing en heelword; dis die wete dat jy die keuse het om óf vasgevang te bly in die probleem-versadigde storie óf om in beweging te kom sodat jy ‘n alternatiewe storie kan skep. Sodoende beweeg jy weg van jou ‘oorversadigde’ probleem in die rigting van die skep van ‘n alternatiewe storie waarvan jy die lewende skrywer is.

Die kliënt kan nie gemaklik terugsit en vir die sielkundige wag om ‘alles reg te maak’ nie. Die sielkundige kan die pad aandui maar slegs die kliënt kan dit in sy lewe laat realiseer. Soms gebeur dit egter dat die persoon se vordering as’t ware tot niet gemaak word wanneer hy/sy teruggaan na sy/haar gesins-sisteem. Dan word die kliënt sover as moontlik bemagtig om ten spyte hiervan, staande te bly.

Sielkundiges is toegerus om hierdie prosesse te fasilteer. Ongelukkig vind baie mense dit moeilik om vir sielkundige hulp te kom weens, onder andere, die stigma daaraan verbonde, die seer om oop te maak en jou verhaal te vertel, asook die vrees om weer verneder te word. Dikwels gebeur dit dat dat mense jare lank eerder die pyn en ongemak van bv depressie verduur as om ‘n sielkundige te kom sien.

Psigoterapie word beskryf as ‘n healing relationship between a client and psychotherapist, the latter using psychological methods to help a person change and overcome problems. Daar is ‘n magdom verskillende psigoterapie paradigmas. Elke sielkundige maak staat op een of meer psigoterapie-benaderings en tegnieke wat as’t ware ‘n padkaart is: dit begelei ons deur die proses om ons kliënte en hul probleme te verstaan ​​en gesamentlike oplossings te vind en te ontwikkel.

Die goeie nuus is dat elkeen van ons oor innerlike sterktes (inner strengths) beskik wat ons deur die jare in staat gestel het om te oorleef en talle struikelblokke te oorkom. Hierdie innerlike sterktes is steeds tot jou beskikking om vandag se hindernisse en probleme te hanteer, en tot hulp te wees tydens psigoterapie. Benewens jou kennis, insig en begrip van jou situasie, beskik jy ook oor innerlike lewenswysheid soos verkry deur jou jarelange en unieke lewenservarings.

‘n Verdere aangename verassing is dat mens nog ‘n uitstekende hulpbron tot jou beskikking het, naamlik jou brein – ons dra as’t ware die wêreld van neurowetenskap in ons rond. Verskillende areas van die brein is nuttig in psigoterapie. So byvoorbeeld is die amygdala as deel van die limbiese sisteem betrokke by die regulering van ons emosionele lewe. Deur te verstaan hoe die brein funksioneer en hoe jou eie ‘hard-wired’ wyse van dink en doen, bydra tot psigopatologie, verhoudingsprobleme, en dies meer, kan dit bydra tot verandering via die vorming van nuwe denke, gevoelens en gedrag. Die brein is nie gemaak en gelaat staan nie aangesien die brein die vermoë het om deur die hele lewensduur te verander in reaksie op nuwe ondervinding of nuwe leer of psigoterapie. Sodoende word nuwe neuro-paadjies ontwikkel ten opsigte van dit waaraan jy wil werk, soos bv hantering van woede of chroniese pyn.

Ten slotte: Sielkundiges moet registreer by die HPCSA (Health Professions Council of SA) om te kan praktiseer. Ons woon verpligte CPD (Continuing Professional Development)  kursusse by ten einde nie slegs ons professionele kennis en vaardighede op te dateer tot voordeel van ons kliënte nie, maar ook getrou te bly aan die etiese standaarde van ons beroep. Registrasie kategorieë sluit in Kliniese sielkunde, Voorligtingsielkunde en Opvoedkundige sielkunde.

Outeur:  Dr Matrié van Niekerk   082 498 3475   Pretoria

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