• accounting news (4)

At Fenns, we keep up with the latest developments in the accounting world, and now you can too. Stay informed with our monthly blog posts and newsletters, featuring insights, updates, and industry news.

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Simple Communication Tips to Boost Your Profitability

Ironing out communication errors could see your team boost their capacity, meet their deadlines more often and ultimately lead to a more effective and profitable business.
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The Why and the How of Annual Price Increases

Businesses, particularly smaller ones, often neglect to implement annual increases in their prices, rates or fees: some due to poor management; many in fear of losing clients in a competitive market (as was particularly evident during COVID), and most simply due to a lack of know-how.
fraud
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Don’t Let Fraud Infect and Damage Your Company

Fortunately, it is possible to detect fraud. The right checks, balances and behaviours can find the culprits early and perhaps even prevent it entirely, but it's not a thing that can be left to trust or other people. Business owners need to implement changes as early as possible and make them a part of company culture if they want to avoid becoming the next victims.
surprised 2

SARS Can Take Money from Your Account! Here’s How to Prevent It…

The ability to collect money owed by taxpayers from third parties (banks for example) who hold money for them is just one of SARS’ wide powers when it comes to the collection of outstanding tax debts. In this article, we find out how such a tax debt can arise, when SARS can take money from your bank account, and how to prevent it from happening.
credit
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Business Loan or a Credit Facility – Which Is Right for Your Business?

The long hours are starting to pay off and your small business is beginning to take shape. You know with a few small changes you will be able to launch the company to where it needs to be, but the problem is these small changes take money.
selling
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Selling Your Business – Plan Well, with a Tax Benefit When You Retire

There are many reasons why a business owner may decide to sell a business built up with great effort over time: perhaps to start another business or pursue a different opportunity; maybe for health reasons, to relocate or retire; or as part of a succession plan or exit strategy.
gig economy

How The Gig Economy Is Changing Traditional Businesses

The challenges posed by the new working system and demands from younger generations are not all immediately obvious either, and the ripple effect is going to affect way more than simple work hours and hiring policies. Here's what business managers and owners need to know.
disabilty
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Are You Claiming Your Full Tax Relief for Disability-Related Medical Expenses?

Among the most useful tax rebates in this regard is the medical expense credit, and it applies to a broad selection of taxpayers. While many taxpayers do claim the medical scheme fees tax credit (MTC), very few know how to claim the additional medical expenses tax credit (AMTC) for qualifying medical expenses, including those related to a disability or physical impairment.
key metrics
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9 Key Metrics Every Business Should Track

Metrics allow businesses to track the growth and performance of various aspects of the business, enabling owners and managers to monitor a company's progress toward its goals, identify and manage proactively potential problems, and make well-informed intelligent decisions.
pricing module

Is Your Pricing Model Killing Your Business?

Sometimes in business you can see the end coming from a mile away. Losing your biggest client, conceding market share to a new competitor, or having your product become obsolete are all obvious signs that tough times are on the way. Some killing blows are a lot harder to detect. Perhaps one of the least noticed and most difficult to see coming, even if you are looking for it, is death by your pricing model and it's easy to understand why.
bad customers
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How To Avoid Bad Customers

What qualities would your perfect customer have? On the surface this is a casual question, but a little examination shows it to be one of the most important ones any small business leader will have to answer. The traditional view of customers would hold that anyone you can attract to interact with your company and buy products or services is the ideal customer – the world is your potential client, and you should act accordingly. But what if that wasn't true?
load shedding
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Loadshedding: Tax Incentives for Energy Efficiency and Alternative Power

With the challenges of Stage 6 loadshedding still fresh in our memory, government’s multiple measures to address this national crisis, announced just a month ago by President Cyril Ramaphosa, confirm that there is no quick short-term solution for Eskom’s woes, leaving us responsible for proactively securing our own alternative energy solutions.
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