❌ Stop Making These (Avoidable) Business Mistakes ❌

In the many years we've worked with entrepreneurs, we have identified some of the most common mistakes they make - see how many you can relate to. 

• Choosing bad business partners - e.g. You don’t screen potential partners or shareholders; You make unreasonable assumptions that everything will work out. (More on these and others here)

• Not taking your sales seriously - e.g. You don’t show your customers that you care; You don’t reach out to existing customers. (More sales blunders here)

• Not using your business credit card correctly - e.g Limiting the use for emergencies; Only paying the minimum amount (Top credit card mistakes here) 

• Being clueless about your finances - e.g. Combining business and personal expenses; Putting passion before profit. (Find out more here) 

Without a doubt, the biggest mistake business owners make is with Funding - See below for all the financing blunders you should avoid!

Here's to doing better every time!

New on the Site this Week!

• The Differences Between Small Business Loans And Funding

• Tax And Legal Implications Of Hiring Gig Workers

• How to Get a Business Loan for a Franchise Business

With the shift to remote working, more businesses are using the gig economy (or platform economy) and turning to contingent workers to fulfil their talent needs. 

Workers classified as independent contractors are responsible for paying most of their taxes, providing their benefits, and other responsibilities. 

Automating your human resources functions can help you reduce the risk associated with scheduling, classification, and other key compliance issues.  

When weighed against the financial and reputational risks associated with improper management of contingent workers, a cloud-based compliant HR software solution is a wise investment.  

Find out more about: The Tax and Legal Implications of Hiring Gig Workers 

Top Mistakes Small Business Owners Make When Looking for Financing

(1) Taking funding from the first available funder without exploring all finance options available.(2) Not understanding the terms and conditions of the financial product.(3) Not securing the correct financial product for their business.(4) Not assessing whether it makes financial sense to take on additional financing.(5) Not understanding the financial impact on their cash flow to service such a facility.*** Read the full article: How to Use Your Financing the Right Way ***

Never Make These Business Loan Mistakes Again - Get all Guidance You Need in the Ultimate Guide to Applying for a Loan in South Africa 

What You Can Learn: 

• The types of Alternative Financing Available to Small Businesses

• Documentation Needed

• Business Revenue, Trading History, Collateral 

• Why Business Owners Get Refused Funding

• Find out how Credit Scores Work

Need Working Capital Finance? For a Free Quote for Business Funding, visit SME South Africa.