Starting a business often requires entrepreneurs to understand and complete a variety of business functions. An important business function when starting a small business is accounting. Although many entrepreneurs may be fearful of dredging through endless stacks of financial documents, accounting often provides entrepreneurs with the clearest picture of their business’ success. Entrepreneurs must also keep copious amounts of records regarding the small business startup for tax and legal purposes.
One of the most important persons that you will need in order to be able to propel your business forward is to have a business lawyer by your side. However much you might be tempted to think that you can go ahead and do without a business lawyer and save yourself some money for your start up business, you are mistaken. A good business lawyer can actually end up saving you a whole lot of money and effort so as to be able to propel your business to the next step.
As the tax administration system becomes more involved and onerous, it becomes efficient to use a specialist that understands the official and unofficial procedures of SARS to perform certain interactions with SARS and negotiate on behalf of the clients.
For more information regarding taxation in South Africa, please get a professional accountant for assistance.
Most employers will at some stage have to deal with an employee that failed to return to work. This normally happens after a payday, a period of extended sick leave or a shutdown over December. But how does one know that the employee absconded and is not just absent as a result of illness or other circumstances beyond the control of the employee? The truth is that the employer will not know, especially if the employee failed to communicate his / her whereabouts. The employer can therefore not assume that the employee absconded; the onus rests on the employer to establish that the employee will not return to work before a dismissal can be considered.
South Africa offers an attractive climate for foreign investors. South Africa has a substantial market with significant growth potential, an economy steadily moving toward market orientation, access to other markets in Africa, well-developed financial institutions and capital markets, excellent communication and transport links, liberal repatriation of profits and other earnings, lower labor costs compared to western industrialized countries (although productivity is also lower), and availability of inexpensive electrical power and raw materials.