Business planning
The workplace is evolving, with more businesses outsourcing specialised tasks to contractors rather than hiring full-time employees. According to the Southern African Freelancers’ Association (SAFREA), approximately 60% of freelancers hold postgraduate qualifications, with the majority based in Gauteng and the
As partnerships can have up to 20 members, decision-making can be slow and cumbersome if there are too many people involved. In the case of a private company, all directors have shared control of the business, and all decisions must
In respect of a typical, non-conforming business assurance policy, the premiums are not tax deductible. However, the proceeds paid from the policy will then not be taxed and the buyer will have access to the full amount required to purchase
The registration requirements for a private company are quite onerous and the entity must be registered with the Companies and Intellectual Property Commission (CIPC) meaning that administration and set-up costs are higher and will include annual fees payable to CIPC.
