Thursday, December 7

Tag: business

4IR To Take Centre Stage in South Africa’s Market
Business

4IR To Take Centre Stage in South Africa’s Market

SummaryTech Industry is ExpandingWhat makes the 4IR stand outTraining the next generation to understand the consequences and benefitsThe country’s Tech industry is experiencing significant market growth.1 It is being argued that the continent is in the midst of a tech revolution, with certain nations displaying unparalleled growth.2 In particular, South Africa has proven itself as a particular reliable generator of revenue and innovator of technology, leading the way in the disruptive delivery of services such as mobile software, electronic banking and security software.3 South Africa has started to receive more interest from offshore investors, with big- name brands currently operating in the country, including IBM, Intel and Microsoft.4 But what are the reasons given for...
Choosing Your Business Structure: LLC, Corporation, and Sole Proprietorship
Business

Choosing Your Business Structure: LLC, Corporation, and Sole Proprietorship

Summary:Limited Liability Company (LLC): Flexibility and Liability ProtectionCorporation: Formality and Investment AttractionSole Proprietorship: Simplicity and Personal LiabilityWhen starting a business in South Africa, one of the crucial decisions you'll face is choosing the right business structure. Each option offers distinct advantages and disadvantages. Here's a breakdown of the pros and cons of three common business structures: LLC, Corporation, and Sole Proprietorship. 1. Limited Liability Company (LLC):Pros:Flexibility: LLCs offer a flexible management structure, allowing members to customize their operational procedures.Liability Protection: Members' personal assets are protected from business liabilities. In case of legal issues...
Top Financial Challenges for Startups and How to Overcome Them
Business

Top Financial Challenges for Startups and How to Overcome Them

Summary:Securing Adequate Startup CapitalManaging Cash Flow EffectivelyScaling While Maintaining ProfitabilityStarting a business is an exciting venture, but it comes with its fair share of financial challenges. To help you overcome these hurdles and establish a strong financial foundation, let's delve into the top financial challenges faced by startups and how to tackle them head-on. 1. Securing Adequate Startup Capital:One of the most significant challenges for startups is securing enough initial capital to get off the ground. Many new entrepreneurs struggle to find investors or secure loans due to a lack of business history. To overcome this challenge:Develop a comprehensive business plan: A well-structured business plan can attract pot...
The Benefits of Hiring a Certified Public Accountant (CPA) for Your Business
Business

The Benefits of Hiring a Certified Public Accountant (CPA) for Your Business

Summary:Expert Financial GuidanceTax OptimizationCompliance and Risk MitigationIn the complex world of business finances, hiring a Certified Public Accountant (CPA) can be a game-changer for your South African business. These financial experts offer a wide array of advantages that can help your company thrive. 1. Expert Financial Guidance:A CPA brings a wealth of knowledge and experience to the table. They are well-versed in financial planning, budgeting, and forecasting, and can provide expert guidance tailored to your business's specific needs. With their insights, you can make informed financial decisions, navigate economic challenges, and set achievable financial goals. Their expertise ensures that your financial strategies align with ...
Where South Africa’s Top Companies Advertise: Insights Revealed
Business

Where South Africa’s Top Companies Advertise: Insights Revealed

In a recent analysis, BusinessTech delves into the advertising strategies of South Africa's leading companies. Here are the key takeaways from their findings:Digital Dominance: South Africa's top companies are increasingly turning to digital platforms for their advertising needs, reflecting the growing importance of online marketing in the business landscape.Media Preferences: The analysis provides valuable insights into the specific media outlets favored by these companies, shedding light on where they allocate their advertising budgets.Changing Trends: The data highlights evolving trends in the advertising landscape, with traditional media channels facing stiff competition from their digital counterparts.South Africa, October 27, 2023 – BusinessTech has recently conducte...
The Key to Startup Success: Unveiling the Six Founder Types
Business

The Key to Startup Success: Unveiling the Six Founder Types

Summary:A new study published in 'Scientific Reports' reveals that the success of startups is closely linked to the personalities of their founders.Researchers from prestigious universities analyzed data from over 21,000 startup founders to identify the traits that predict success.The study suggests that six particular personality types, referred to as Fighters, Operators, Accomplishers, Leaders, Engineers, and Developers (FOALED), significantly increase the chances of startup success.The combined personalities of the entire founding team also play a crucial role in determining the success of a startup.Startups with diverse combinations of founder types have a significantly higher chance of success compared to those with a sole founder.The World of StartupsThe world of sta...
Fiqh – Company charging staff for damaged goods
Islam

Fiqh – Company charging staff for damaged goods

Question:A company charges staff for goods damaged by staff. It is either damaged by mistake or due to negligence. Staff are required to pay the full retail value of the item. The staff cannot take the item away. It is either sold off at a reduced value to another person.In some cases where the company can, they return the item to the supplier for a credit.What is the sharee ruling? Answer:If the item got damaged by the staff due to negligence, he can be charged for it. However, after charging him, the item will belong to him. However, if the item got damaged by the staff by mistake (e.g. while carrying the item he had slipped and fallen due to which the item got damaged), then in this case, the staff cannot be held responsible for the item.And Allah Ta'al...
As BRICS Summit Approaches New Opportunities for Business and Currency Arise
Business, Trending News

As BRICS Summit Approaches New Opportunities for Business and Currency Arise

As the summit for BRICS approaches plans are being made as regards to preparing entrepreneurships by searching for what are the country’s best up-and-upcoming tech gurus (Professionals) to represent the country in the BRICS Future Skills Challenge.1 The future skills Olympics for this year will focus on solving problems the BRICS nations face around energy, water and health.2 BRICS being made up of Brazil, Russia, India, China and South Africa are seeking to rear new professionals in this skills challenge set for 12 to 15 September 2023 in Johannesburg.3 With hundreds of participants expected be involved, the BRICS Business Council aims to select 120 individuals from across the country, covering their travel expense.4 Joanne Brink, founder of TechWays and project manager at BRICS Future Sk...
Light Ahead of the Tunnel For South African businesses
Trending News

Light Ahead of the Tunnel For South African businesses

South African companies may have a golden opportunity for growth if they target the right markets and promote themselves on a consistent basis.1 This is according to feedback given by companies which have partnered with Business Tech to run digital advertising campaigns.2 Their positive outlook remains in place despite the continuous load-shedding and a global economic slowdown sitting on the minds of many business owners and executives in the country.3 In fact, challenges like load-shedding have presented huge opportunities to local businesses.4 As things stand this should come as a surprise as regards to improving business, when the economy is sagging due to power outages. What huge opportunities have been presented due to Load-shedding and how have businesses reaped the benefits? /*!...
The Crucial Role of Islamic Banks in Muslim Communities
Business

The Crucial Role of Islamic Banks in Muslim Communities

Economical Need In today's global economy, Islamic banking has emerged as a vital financial system that caters to the unique needs and values of Muslim communities around the world. Islamic banks, guided by principles derived from Islamic law (Shariah), offer an alternative approach to banking that aligns with the ethical and religious beliefs of Muslims. Shariah-Compliant Banking Islamic banking operates under the principles of Shariah, which prohibits the payment or receipt of interest (riba) and restricts investments in activities deemed unethical or socially harmful. This fundamental distinction sets Islamic banks apart from conventional banks and makes them essential for Muslim communities seeking financial services that align with their religious values. By adhering to Shariah princi...