Tips

This category contains 7 posts

Starting and Developing a Successful Business

The following is a summary of suggestions from a successful gentleman who operates 10 businesses whilst travelling the world with his young family: 1. Multiple Revenue Streams. A typical small business isn’t usually that impressive but when its profits are multiplied by ten, you’ve got a diversified, multi-million dollar portfolio. 2. Do Not Partner. If … Continue reading

RUNNING A TRADING ASSOCIATION? FIND WHAT FITS.

I’m going to assume that we all know what an association is, and for the purpose of this post, I’m concentrating on trading associations owned by all members. The purpose referred to above is suggesting favourable 1. Corporate structure; 2. Trading style; and 3. Tax regime to adopt. CORPORATE STRUCTURE Consider incorporation (ie Limited) if … Continue reading

Understanding Capital Expenditure

People often ask where the line is between what can be written off in the accounts as expenses and what qualifies as capital expenditure (spent on fixed assets). A good rule of thumb is applying the 2-year tenure. If what you purchase or introduce into the business will last less than 2 years, write it … Continue reading

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