Sipho’s reflections of what he learnt in 2019: he now knows that mixing personal finances with that of the business is a ”No!” “No!” as this:
1) inhabits business growth 2) complicates preparation of financials and filing of returns resulting high costs and non-compliance 3) reflects the lack of financial discipline and drives funders away.
Despite this Sipho has not yet opened a separate business bank account. This is disappointing. Knowledge without action is useless.
Empower yourself, grow your business!
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