HOLIDAYS AND YOUR BUSINESS

 

Article by: Midstream Accountant: Kagiso Chuma

 

With the Christmas holidays rapidly approaching, we want to make sure that your dream of whiling away the hours at an exotic destination while your life batteries recharge, remains more than just a dream!

The problem we find with many entrepreneurs and accountants, is that they often find it difficult to let go and trust that everything will be ok! Well, the good news is, with a little advanced planning anything is possible.

In order to achieve holiday bliss, we have listed a few simple tips to help you on your way:

• Separation – firstly, it is important that every entrepreneur learns to quickly separate themselves from their business. Separating yourself from your business will allow you to view the business impartially instead of emotionally, thereby allowing you to follow a more rational approach.
• Organisation – secondly, the only way to achieve separation is to be organised. Knowing your business inside out will make it easy to put simple procedures in place for your staff and clients to follow while you are away.
• Training – thirdly, training is not only limited to your staff; it also extends to your clients. Well-drilled staff will keep your business ticking along like clockwork. Well-drilled clients will ensure there are no or very few last-minute orders, as they would have placed advance orders to cover the period when you are away.
• Communication – Fourthly, after separation and organisation, this is probably the most important aspect of planning a holiday. Take the time to ensure that all the role players in your business (staff, suppliers and customers), are aware that you will be away. Besides letting them know you are away, you also need to communicate what course of action they need to follow if there is a problem.

While the above four points will enable you to put a framework for a successful holiday plan in place, it is important to customise it to suit your particular business. Just remember, don’t panic if you don’t get everything in place before Christmas arrives, as putting together a successful holiday plan will take several attempts.

Bridgement and SME.Tax

Picture this: you spot an opportunity that could take your business to the next level, but your cash flow isn’t where it needs to be. That’s where Bridgement comes in—our new partner and Xero App of the Year winner. Offering up to R5,000,000 in revolving credit with absolutely no hidden fees, Bridgement gives you the financial flexibility to act fast when it counts. And the best part? You only pay when you use it, with crystal-clear pricing that won’t leave you guessing. Don’t let your next big opportunity slip away—apply here (https://bit.ly/bridgementSMT) and keep your business momentum going strong.

At SME.TAX we do more than just assist clients with tax planning; we are your “one-stop SME shop”, assisting with everything from Accounting, Business Management, BEE, Consulting and Company Registration to Payroll and Mentoring

For more information, please visit our website www.sme.tax or give us a call on 012 021 0829