by Amogelang Nawa | Nov 14, 2019 | Gamers Reflections
Sipho went to the local bank and met with one of the bankers who informed him of the business loan application requirements (business plan, bank statements, cash flow projections and security). Sipho quickly realised that without financial management skills his...
by Amogelang Nawa | Nov 12, 2019 | Gamers Reflections
A bank (and other funders) will require a business plan, bank statements, cash flow projection for at least the next 24 months, security/collateral (personal and business assets). Sipho seems to be having none of these. Sipho’s lack of (and non-investment in)...
by Amogelang Nawa | Nov 11, 2019 | Gamers Reflections
While awaiting the outcome of the bid submitted Sipho looked at his bank balance and said eish! I am running out of cash. Sipho is only left with R 20 000. The second project is only 20% complete and requires R 700 000 to be completed. Sipho decided to...
by Amogelang Nawa | Nov 8, 2019 | Gamers Reflections
Sipho and his accountant are being dishonest, they are misrepresenting the financial and tax affairs of the business because Sipho’s business has been trading for at least 18 months and was awarded 2 projects. Filing “zeros” is a criminal offense (tax evasion) and...
by Amogelang Nawa | Nov 8, 2019 | Gamers Reflections
The tender bid is due in 2 days. Sipho called his friend, Hendrik, to find out where and how he can obtain a tax clearance certificate. Hendrik referred him to some accountant who filed “zeros” on tax returns and generated a tax clearance certificate for Sipho. Sipho...
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