Brendmo Chartered Accountants, Author At Brendmo Chartered Accountants

07 Mar 22

How The Gig Economy Is Changing Traditional Businesses

Brendmo Chartered Accountants

“If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion” (Elon Musk) The move to the gig economy has been in the works for years. Even before the pandemic people were leaving their jobs to “consult independently”…

28 Feb 22

Recession on the Horizon: Here’s How to Survive

Brendmo Chartered Accountants

“During recession greed dies, frugality survives.” (Amit Kalantri, Wealth of Words) With yet another return of loadshedding in August, and major banks upgrading their forecasts to reflect an increased possibility of further economic downturns, recession feels inevitable in South Africa. A recession is simply where an economy stops growing and…

21 Feb 22

Are You Ready for a COIDA Employer Site Visit and Audit?

Brendmo Chartered Accountants

“The main objective… is to provide compensation for disablement caused by occupational injuries or diseases sustained or contracted by employees, or for death resulting from injuries or diseases…” (Compensation for Occupational Injuries and Diseases Act) Most employers – and particularly smaller businesses and domestic employers – are not able to…

14 Feb 22

Loadshedding: Tax Incentives for Energy Efficiency and Alternative Power

Brendmo Chartered Accountants

“This is a call for all South Africans to be part of the solution; to contribute in whatever way they can to ending energy scarcity in South Africa.” (President Cyril Ramaphosa) For more than a decade, local businesses have faced the huge challenge of an unreliable power supply from a…

07 Feb 22

How To Avoid Bad Customers

Brendmo Chartered Accountants

“Happy customers are your biggest advocates and can become your most successful sales team.” (Lisa Masiello) Anyone who has started a business has had those meetings. The ones where you trade a dozen emails explaining what you do and how you do it, what your rates are and why you…

31 Jan 22

Top Ten Tips for Maintaining a Strong Cash Flow

Brendmo Chartered Accountants

“Never take your eyes off the cash flow because it’s the lifeblood of business.” (Sir Richard Branson) Managing cash flow is often one of the biggest challenges business owners face and is also the reason for a concerningly large percentage of business failures. Cash flow can be defined as the…

24 Jan 22

The Importance of a Good Credit Score

Brendmo Chartered Accountants

“You cannot escape the responsibility of tomorrow by evading it today.” (Abraham Lincoln) A good business credit score is a critical tool in business success as it helps your business unlock, establish and maintain relationships with lenders, suppliers and vendors. It reveals whether an organisation should lend your business money,…

17 Jan 22

Choosing Accounting Software for Your Small Business

Brendmo Chartered Accountants

“Creativity is great – but not in accounting.” (Charles Scott, Former governor of Kentucky) Being able to track money as it is coming in and going out is essential for small business owners. Not having proper cash flow management and a full understanding of where your money is going makes…

10 Jan 22

Is Your Trust Registered and Ready for Income Tax?

Brendmo Chartered Accountants

“A trust is a ‘person’ for tax purposes and is therefore a taxpayer in its own right.” (SARS) SARS recently sent out a reminder confirming that in terms of the Income Tax Act, 1962 (ITA), all trusts are taxpayers and that the trustees, who are also the representative taxpayers of…

03 Jan 22

Keep Your Business Simple!

Brendmo Chartered Accountants

“Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” (Steve Jobs, co-founder of Apple) It is easy in business culture to start believing…