SME ADVISORY PACKAGE
We work closely with our clients to identify their needs and to design customised solutions that bring tangible benefits for the business as well as increased knowledge and skills i.e. empowered and capacitated human capital.
Some of the benefits from this service include a) savings on compliance and related costs, b) improved business performance therefore profitability, sustainability and contributes to long term success, c) improved efficiency and effective operations, d) contributes to and or informs company strategy, e) due diligence on the company helps create a company that is a valuable asset to business owners.
Smooth running of business operations means a plan is developed, implemented, and monitored for correction and improvement.
HERE WE LOOK AT THE LAWS AND REGULATIONS APPLICABLE TO THE BUSINESS, REVIEW THE COMPANY STATUS IN TERMS OF COMPLIANCE, ASSESS THE IMPACT OF NON-COMPLIANCE AND ADVISE ON COURSE OF ACTION TO ASSIST IN MINIMISE COMPLIANCE RISK FOR THE BUSINESS AND AVOID DIRECTORS’S PERSONAL LIABILITY IN CASES OF GOVERNANCE ISSUES
* BUSINESS PROCESSES
Good business processes will make your business stronger, more efficient, more independent, and easier to run – all of which create an attractive prospect for potential investors and buyers.
Proper processes will help with Keeping track of what the business is doing, Knowing what needs to be done, Monitoring how well things are done, Improving the ability to do things right the first time, and Keeping the business legal – especially if it employs people.
A process is a set way of doing thingsso that every demand can be channelled in a certain direction and dealt with in a planned way.
Any organisation that stays in business and provides goods and services to its customers operates processes, however lean or informal. Such processesmay need to be developed or reviewed for valuation, scaling or funding purposes.
WE DO A REVIEW OF THE CURRENT PROCESSES; EITHER MANUAL, AUTOMATED OR BOTH TO ASSESS AND IDENTIFY GAPS, DESIGN MINIMAL AND SOUND PROCESSES NEEDED FOR THE BUSINESS TO OPERATE EFFICIENTLY.
* FINANCIAL MANAGEMENT
Working capital, budgets and cashflowprojections, stock, creditor and debtor’s management, and management reporting are some of the activities that form part of the financial management function. The business owner needs to manage each of these activities by:
- keeping an eye on cash flow requirements to identify financing needs early
- monitoring importantindicators of financial health (such as liquidity, efficiency, profitability and solvency ratios)
- identifying any negative trends in operations to remedy the situation before it becomes critical.
WE ASSESS THE STRENGTH AND EFFICIENCY OF CURRENT FINANCIAL MANAGEMENT ACTIVITIES OF THE BUSINESS THROUGH ANALYSIS OF FINANCIAL AND NON-FINANCIAL INFORMATION AND DEVISE SOLUTIONS THAT INCLUDE WORKING CAPITAL MANAGEMENT IMPROVEMENT PLANS, CASHFLOW PROJECTIONS AND MANAGEMENT REPORTING TOOLS.
* RISK AND OPPORTUNITIES
In South Africa, various incentives, including tax, are available to small businesses.
AS AN ADDITION TO THE MAIN ACTIVITIES PERFORMED, WE LOOK AT OTHER OPPORTUNITIES OR BENEFITS AVAILABLE, SUCH AS PRIVATE OR GOVERNMENT INCENTIVES. WE ALSO PERFORM A RISK ASSESSMENT FOR THE SMALL BUSINESS AND REPORT THESE TO OWNERS.
BUDGETING AND CASHFLOW PROJECTIONS
- development of business plans
- funding applications
- review business plan financial projections
- capital investment projects e.g. purchase of equipment or other property
Tax planning as a specialised service is valuable for any organisation as tax savings contribute significantly to company profitability and growth. Tax laws change frequently therefore small business owners need to ensure proper planning of their business’s tax position at the earliest and take advantage of such and implement actions in line with current tax laws.
BOOKKEEPING, FINANCIAL REPORTING AND COMPLIANCE
- Monthly bookkeeping up to Trial Balance
- Preparation of management accounts
- Preparation of periodic financial statements
- Fixed Asset Register – Preparation, maintenance and reconciliation (including physical verification) of the register
- Calculation or review of tax calculations,
- Completion and submission of tax returns, VAT, EMP201 returns, etc.
- Representation as Tax Practitioner at SARS
- Compliance Implementation – CIPC, SARS and other applicable statutory registrations