It has been proven that many businesses failures are caused by poor financial management and record keeping. This article outlines ten ways in which you can survive businesses failures that are caused by poor financial management and record keeping. Learn how to manage your finances better by limiting your capital expenditure, not cutting back on marketing, learning about financial management, reviewing your debtor management system, reviewing your creditors, among other strategies.

Auditing in relation to SMEs has always been a debatable and contentious issue. Out of just about every SME owner that I have met, almost all would opt to have their business audited. That is, of course, if there was a combination of a reasonable price attached to it, together with a professional and efficient service guaranteed. This article explores why regular auditing is beneficial for SMEs, and what SMEs should consider before being audited.

There are a number of instances when you may need to determine the market value of a business. Certainly, buying and selling a business is the most common reason. Estate planning, reorganization, or verification of your worth for lenders or investors are other reasons. Valuing a company is hardly a precise science and can vary depending on the type of business and the reason for coming up with a valuation. This article looks at some of the common methods used to determine the value of a business.

In order to comply with VAT regulations, for any sale of more than R50, you have to issue a tax invoice, with the word "tax invoice" printed on it. This is the most important document in the VAT system. The VAT Act prescribes that a tax invoice must contain certain details about the taxable supply as well as the parties to the transaction. This includes the value of the goods/services excluding VAT, and the VAT amount (calculated at 14% of the above amount), among others.

There are various ways to ensure that your business does not go down or be tied up in endless red tape because of the debt or liabilities you have left behind at your death or should you become disabled. A business is a valuable asset, built up by the dedication of its owners. Every care should therefore be taken to protect it for the generation of future income and as a cornerstone of wealth. This article looks at how to secure your business's financial future.