IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Useful tips for Small Business

General update by IBBZ Accounting on latest tax news, business growth and technology tips.

Business growth

Importance of Tax planning

Importance of Tax Planning

Often, most businesses focus so much on growth in revenue and minimization of costs that taxation becomes a secondary priority. However this is where many businesses stumble because if not administered carefully, tax debt can be a death knell for the business. Tax is critical in terms of cash flow planning, optimising costs, identifying product portfolios as well as to meet the social commitments of the business. Advantages of tax planning includes –

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10 Things A Business Owner Can Do to Safeguard Themselves from Covid-19 Financial Crisis

 10 Things to Safeguard Yourself from Covid-19 Financial Crisis

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Time Management for small business

Time Management

 

Time management is using a person’s time more effectively to accomplish tasks within a short period of time in order to improve both efficiency and productively of the task.


Managing time is one of the crucial skills for a small business to possess if wish to succeed. As many small businesses struggle to complete day-to day tasks within time, they end up wasting precious time which they should be using for growing their business. Once a small business start practicing good time management, they consistently improve their products and services.

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Why patience is key to grow your small business?

Patience

Patience is a virtue for growth and profits in many small businesses. Although entrepreneurs want to grow fast with their new business plan and expect fast results, they need to be patient to see success. Having patience means you can wait peacefully because you have invested time, energy and money rather than getting frustrated, worried or disappointed.

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Why you should possess good listening skills in small businesses?

Listening

Listening is the key to effective communication. Effective listening helps in sharing clear information, increasing productivity, building customer satisfaction and employee motivation. Whereas poor listening can easily create misunderstanding, irritation or frustration in business.


Listening is a desirable strength for your business to have in order to build relationships both internally and externally.

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