| SME NEWS HEADLINES | ISSUE 27 | 30 MARCH 2007 |
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SME Survey 2007: The secrets of successful business
 With SME Survey 2007 research getting underway, principal researcher Arthur Goldstuck reveals that for the first time, the study will seek to provide answers to perhaps the most important question facing the nascent enterprise: What are the secrets of a successful business?
Sponsored by Standard Bank and Fujitsu Siemens Computers, SME Survey is the definitive says Goldstuck. “SME Survey has previously focused on identifying those factors which influence competitiveness and enhance the potential for success for the emerging business.
Grow your home business
 There comes a time in the life of every home-based business owner when he or she has to make a decision whether or not to grow the business.
If you're good at what you do, and your customers love the products and services that you sell them, don’t be surprised if, after you start your business, you're soon faced with more customers and clients than you can handle.
| 2007 Tax Special |
Tax Amenesty Special : What taxes can you be granted amenesty for?
Once you receive amnesty, SARS may not make a criminal case against – as long as you  have been honest about your income. Income tax on profits (taxable income). This is the income from your business after you have deducted the expenses you are allowed to deduct in terms of the law. Secondary tax on companies. Businesses that declare dividends are liable for tax on these dividends at 12.5 percent of the dividends paid.
What will you pay to receive amnesty?
You will pay a small levy to receive amnesty. This clears all your taxes
 from the past. The levy will be between two and five percent of your
2006 profit (taxable income).
If your profits are less than R35 000, you will not pay a levy. The levy you will pay will be worked out using a scale based on have much profit you have made.
What can you do if your business owes tax?
 The South African Revenue Services (SARS) recently published draft
regulations in terms of which it will waive additional tax, penalties and
interest added on to the tax you owe up to R1 million.
The regulations are still subject to parliamentary scrutiny and the Minister of Finance's approval and the approved regulations will be published on SARS's website, www.sars.gov.za |
Challenges facing women in business
 South African sisters are increasingly doing it for themselves, and the Global Entrepreneurship Monitoring rankings, released last month, put our female entrepreneurs 23rd of 42 countries, while South Africa's overall entrepreneurial population comes in 30th.
However, according to Gideon Maas, principal GEM researcher at the UCT Graduate School of Business, women are still performing below the global average even while performing locally better than men. |
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Shawn Hancock [Designer]
Warwick Smith-Chandler [Editor]
Storm Buckingham [Technology Editor]
Ashleen Cupido [Advertising]
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www.bizassist.co.za |
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