Our comprehensive training program for entrepreneurs and small business owners consists of a structured series of 12 sessions. These sessions are available for individual purchase or as part of a bundled package. Additionally, we offer the flexibility to customise the training program to align with the unique needs and objectives of our clients.
Session One: The Business Structure
The two most common company structures for micro to small businesses will be explored:
- Sole Proprietorship
- Proprietary Limited Company (Pty) Ltd
Choosing an appropriate company structure that aligns with the business needs is essential as it affects various aspects of the business, such as liability, regulations governing how the business is managed, accounting records, and income tax implications.
The Companies Act will also be briefly covered in this session.
Session Two: Financial Planning
Having a financial plan is vital for any business. The financial plan should consist of a profit/(loss) forecast and a cash flow forecast. The business owner needs to be able to determine the break-even point and calculate the necessary markup to ensure profitability.
Templates will be provided to the trainees.
Session Three: Bookkeeping Basics
Equipping business owners with fundamental bookkeeping knowledge for cost-effective management. Every business owner should understand the bookkeeping basics.
Session Four: Understanding Financial Reports
Business owners should understand the financial reports generated by their accounting system. This understanding enables them to compare these reports with their forecasts and determine if they are on the right track. Additionally, business owners can use these reports to calculate or estimate their income tax liability.
Session Five: Tax Fundamentals I
An in-depth understanding of Income Tax will be provided, including how to calculate it accurately, and covers Gross Income, Taxable Income, and Allowable Deductions.
Session Six: Tax Fundamentals II
Tax Fundamentals II covers Value-Added-Tax (VAT), Pay-As-You-Earn (PAYE), Unemployment Insurance Fund (UIF) & Skills Development Levy (SDL) and how these are calculated.
Session Seven: Legal Concepts in Practice
Provides resources and templates for essential legal documents, from customer agreements to employment contracts and POPI documents.
Every start-up or small business requires sound legal documents and contracts in place.
These documents include customer agreements, employment contracts, and POPI documents, among others. However, drafting these legal documents can be quite costly, especially for new businesses that may not have the funds to pay an attorney.
Session Eight: Systems & Technology
Guidance on selecting the right technology and software solutions for scalable and efficient operations.
As a business owner, it can be challenging to determine which technology and software solutions are necessary for your business. It is always important to assess the long-term implications of your technology choices, keeping scalability in mind.
Session Nine: Marketing & Sales
In today’s world, technology has made it possible to generate leads through various platforms, including social media. As a small business owner, it is important to determine which platforms offer the best return on investment. The primary goal is to raise awareness of the product or service, acquire customers, and build loyalty to ensure revenue growth and customer retention.
Session Ten: Leadership & Management
Leadership and management style should be established from the start, even before the first employee is hired.
This session will focus on establishing leadership and management principles to create effective leadership that balances vision with efficient execution.
Session Eleven: Building Your Team
Managing crucial aspects of HR, including hiring, retention, payroll, and compliance with labour laws.
Small business owners must navigate several crucial aspects of the HR process to ensure the smooth operation of their company. Firstly, the hiring process demands careful attention, as finding the right talent is essential for growth. Once employees are onboard, employee retention becomes paramount. This entails creating a positive workplace culture, offering growth opportunities and providing fair compensation to retain valuable talent.
Managing payroll accurately and on time is essential for both legal compliance and employee satisfaction.
Lastly, small business owners should be aware of the Basic Conditions of Employment Act, ensuring they adhere to labour laws.
Session Twelve: It’s All About Balance
Prioritising self-care and work-life balance is crucial for sustained business success. As a business owner, it’s natural to focus on looking after the business. However, it’s equally important to prioritise self-care. During the initial stages of a business, the owner typically handles all aspects. Still, they need to ensure they are in a mental and emotional space to manage the business effectively.
