Business Finances | Blog - Financially Fit Life

Tips to Improve Business Cash Flow

by Ronel Jooste | May 5, 2020 | Business Finances | 0 |

Cash flow is critical to any business despite the size or type of business. In a recent study conducted by SasFin and sme.africa, businesses indicated that cash flow (or rather a lack thereof) contributes to 61% of their biggest financial stress and concerns during the current pandemic. Implementing an effective cash flow management strategy is becoming more critical now than ever before. Here are a few tips to help businesses improve their cash flow.

SARS Relief to Benefit Cash Flow

by Ronel Jooste | Apr 13, 2020 | Business Finances, Personal Finances | 0 |

Concerns were rightfully raised about the various relief options been announced to help individuals and businesses been affected by the national lockdown enforced to stop the spread of the coronavirus. Amidst the negativity, uncertainty, stress and questions, SARS announced their relief measures. Eventually the dark cloud got a slight silver lining for some tax payers. The SARS relief options whereby a portion of PAYE and provisional payments will be deferred with no interest and penalties, will truly benefit taxpayers’ cash flows. This is the kind of relief most people, being heavily affected by this crisis, were probably looking for and hoping to receive from all role players.

Coronavirus: Business and financial lessons

by Ronel Jooste | Apr 5, 2020 | Business Finances, Personal Finances | 0 |

The impact of the coronavirus on the economy, businesses and individuals will be phenomenal.
Suddenly terms like ‘unforeseen circumstances’, ‘in case of an emergency’, ‘in the event that’, ‘potential risk’, ‘probability of an unforeseen event happening’, ‘what if’, ‘if it happens to you’, became a harsh reality and the real meaning of these terms became clear. Yes, ‘emergencies’ and ‘disasters’ can in fact happen. It can happen to all of us and it can happen at the blink of an eye.

8 Financial Reasons Why Businesses Fail

by Ronel Jooste | Jan 23, 2019 | Business Finances | 0 |

Many businesses fail due to finance related reasons. Financial reasons can cause for both small businesses and large corporates to fail. South Africa has one of the highest failure rates of new SME’s in the world. A study done by SEDA (The Small Enterprise Development Agency) in 2017 indicated that 75% of SME’s in South Africa fail. What are the 8 financial reasons why businesses fail?