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Financial and HR Tools

Find out what products and tools are available to use to manage your finance and HR.

Entrepreneur

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  • Instant accounting

FNB Business Banking

FNB Business Banking clients have free access to an online accounting solution that uses FNB electronic bank statements to generate financial statements. It allows you to prepare income statements, balance sheets and cash-flow statements and provides debtors, creditors, budgeting and VAT functionality.

Get it from: FNB. Call 0860 22 22 55 or email: instantaccounting@fnb.co.za

Cost: Free

  • Online billing

SnapBill

SnapBill is an online invoicing and billing system. When starting out, you can take advantage of the free offering to invoice up to five clients. The Startup package lets you invoice up to 50 clients and costs R50 per month. The online billing system is quick and easy and can be automated for recurring billing. SnapBill is always available and accessible from anywhere via any web enabled device. Complete system back-ups are done every 15 minutes to ensure that no data is lost or compromised.

Get it from: www.snapbill.com

Cost: Free – R50 per month

  • Entry level software

Palladium Software

To keep start-up costs down you can opt for limited functionality accounting software, like the Individual Version offered by Palladium Software. It lets you invoice customers, remit statements, process and pay suppliers, pay taxes and print compliant financial statements. Palladium adds a release every year so that the application stays current with new enhanced features. It is limited to a single user, but does not time out with transactional volume or after a specific date.

Get it from: www.palladiumsoftware.co.za

Cost: Free

  • Leading accounting software

Absa Business Essentials

Absa Business Essentials is a service available to existing Absa Small Business Customers. Members get access to tools and services that are essential to business operation, including QuickBooks Pro software worth R3 000. Quick-Books Pro lets you track money in and out of your business, record who you owe money to and who owes you, which of your products, services or customers makes the best return, understand how profitable the business is at any time, and record and manage VAT.

Get it from: Absa (www.absa.co.za)

Cost: R185 per month

  • Online payroll

Pastel My Paycheck Online

Pastel Payroll offers software solutions to suit the different stages of a company. For start-ups it could work out more cost-effective to use the Pastel My Paycheck Online solution if you have less than five employees. It is a cost-effective method of paying your employees and requires no installation time or set-up costs. It also allows you to access your payroll data at any time from anywhere in the world. Pricing starts at R196 per annum for two employees.

Get it from: www.pastelmypaycheck.co.za

Cost: Starts at R196 per annum

  • People management

PeoplePlus

Aimed at SME s looking for cost-effective business tools, PeoplePlus has launched a freemium HR & payroll solution. It makes significant HR and Payroll functionality available for free, with the option to add the premium services at competitive prices. The free solution is web-based, making it available 24/7 and it offers data back-up and automatic legislative updates. It includes human resource information, leave management, disciplinary and training management modules, a recruitment portal, a document manager and payroll module.

Get it from: www.peopleplus.co.za

Cost: Free

  • Tax calculator

Pastel Payroll

To work out how much tax you need to deduct from your employee’s salaries, use Pastel Payroll’s free tax calculator by logging on to the Pastel Payroll website and following the link to the Online Salary Tax Calculator.

Get it from: www.pastelpayroll.co.za

Cost: Free

  • Manage your money

Bull’s Eye Advisory

As a new business owner investing your own money into your business, you need to make sure that your finances are in order. A good idea is to have a personal budget. Bull’s Eye Advisory offers a free personal budgeting tool on its website.

Get it from: www.beadvised.co.za

Cost: Free

  • Pocket profit calculator

ActionCOAC H

ActionCOACH has released its 5 Ways To Profit Calculator app. The app shows you how to improve the bottom line of your business by simply increasing one (or more) of five critical areas: leads, conversion rate, number of transactions, average sale value or profit margins. You simply plug in the current number (baseline number) of each of those areas, calculate your ‘baseline’ profit, and then choose the percentage you would like to increase your profits by – the app will determine what numbers you need to reach to achieve your profit goals. You can also use the app to see the difference small increases in all five areas make on your bottom line. The app offers a number of strategies to increase the baseline numbers in each area.

Get it from: iTunes

Cost: Free

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How The Sanlam Enterprise And Supplier Development Programme Is Helping Start-up Businesses

The balance between funding, business development and mentorship can make or break an enterprise development programme

Francois Adriaan

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Sanlam Enterprise and Supplier Development

165 new employment opportunities, 172 SMEs developed and 1046 jobs sustained. These are some of the numbers recorded by Sanlam as the company prepares to wrap up the fourth year of its Sanlam Enterprise and Supplier Development (ESD) programme.

The flagship incubation scheme has turned around loss-making enterprises, helped some participants get critical accreditation and funding, but most importantly, R12.6 million was spent procuring goods and services from the participating businesses by the end of 2016.

Related: Enterprise Development Programmes For Black Entrepreneurs

Receiving funding isn’t the secret to start-up success

Francois Adriaan, head of Sanlam Foundation says the secret to a successful enterprise development programme is not the amount of funding big corporates can give SMEs: “It’s having the right mix of mentorship; business intervention and procurement spend flowing from your corporate to small businesses.

You have to show the entrepreneur you are mentoring that you trust them enough to do business and walk the journey with them instead of giving them a once-off grant and leaving them to their own devices,” says Adriaan.

Financial support that’s timed to business need

Like in many other ESD programmes, participants in the Sanlam ESD programme also have access to funding. But what sets the programme apart from others, says Adriaan is that the amount of funds disbursed to each participating businesses is directly linked to its need, its commitment and progress record.

“Financial support is timed according to the specific needs of each SME. Those who qualify for funding are then provided with a further seven years of SME growth support through the ASISA Enterprise Development Fund.”

The Sanlam ESD programme

The Sanlam ESD programme was launched in July 2013 in collaboration with the Association for Savings and Investment South Africa (ASISA) to empower SMEs, create jobs and contribute to economic growth in South Africa. An independent evaluation shows that participating enterprises have grown their annual revenue by 19% on average.

D&P Auto participants

One of the programme participants is D&P Auto, a panel beating business based in Retreat. For two decades, the owners of the business (husband and wife) poured their life savings, bank loans and even pension policy pay-outs into the business to keep it afloat because it was not making profit. Three years of focused business incubation and mentoring under the Sanlam ESD programme resolved D&P Auto’s 20-year loss-making battle.

“Our business has grown from a non-profitable business to the extent that we now have to pay provisional taxes to SARS for the first time in 24 years,” said Pam Douglas on their business maiden profit.

Successes of the incubation programme

The incubation from the programme has helped other participants brush up their bookkeeping skills, file successfully for tenders and get accreditation that took their businesses to the next level.

G&T Auto, the only fully accredited Major Structural Repairer in the programme, bagged Mazda accreditation last year, a rare accolade that will see the enterprise repair Mazdas that are still under warranty. The owner, Thembi Sithole says the programme has given her confidence to approach bigger clients as she now understands the requirements to get big contracts. She has also become more knowledgeable about financial statements and their impact on obtaining funding.

Related: Why Employee Engagement Programmes Backfire And What You Can Do About It

Adriaan says enterprise development initiatives of this nature give big corporates an opportunity not only achieve their business objectives, but also impact broader South African society.

“This commitment is around impacting issues of inter-generational poverty, unemployment and inequality. It is also about aligning around public-private-civil society partnerships in sustainable ways,” concludes Adriaans.

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Are You Ready For A Side Hustle? Here’s How To Know

We talk to side hustle pro Susie Moore about who should jump into entrepreneurship and when is a good time to take the leap.

Andrea Huspeni

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side-hustle

It seems like everyone has a side hustle. Indeed, 1 in 4 millennials have a side hustle, part of the  54 million Americans making money outside of their pay cheque.

But are you ready to get your hustle on?

According to Susie Moore, a life coach and the founder of Side Hustle Made Simple, you are always ready to begin a side hustle. You just need to know where to begin.

Related: 3 Ways To Set Your Side Hustle Up For Success

Moore has helped thousands of people take the leap from concept to creation in making their entrepreneurial dreams a living, breathing reality by launching a risk-free side hustle. She left her $500,000 job after her own side hustle took off within just 18 months.

She’s also the author of What if it DOES Work Out? How a Side Hustle Can Change Your Life released this fall, speaker and adviser to startups. Her work has been featured on the Today Show, Marie Claire and more.

To help aspiring entrepreneurs understand what it takes to be a side hustler, Moore is joining us for this week’s episode of Tough Love Tuesday, our Facebook Live series that connects experts with side hustlers for real-time advice and support.

Related: 50 Jobs, Gigs And Side Hustles You Can Do From Home

Specifically, she’ll share:

  1. The qualities all side hustlers need
  2. Advice that turns great ideas into action
  3. Strategies for making money right away
  4. Ideas for perfect side hustles
  5. Productivity hacks that prevent burnout.

This article was originally posted here on Entrepreneur.com.

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(Video) Why Your ‘Great Idea’ Actually Sucks

Don’t get caught up in coming up with the next big idea.

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Everyone wants to come up with the next Uber, Facebook or Tesla. But, if Entrepreneur Network partner Patrick Bet-David has to choose between someone with a great idea and someone with great sales skills, he’s taking the salesperson every time. Why?

Related: The 3-Step Approach For Testing Out Your Business Idea

Well, look at the history of great businesses. Ray Kroc didn’t start McDonald’s, but he learned how to sell the fast food restaurant and made far more in his life than the actual McDonalds brothers. Steve Jobs couldn’t code like Steve Wozniack, but he knew how to sell Apple, and his estate is worth far more now than Wozniack’s.

Facebook, Tesla and more. Each time, it seems like the great salesperson ends up earning more than the person who created the great idea to start with.

Watch the video to learn more about the relationship between great ideas and great sales techniques.

This article was originally posted here on Entrepreneur.com.

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