There are many things every business, including small businesses need for growth and survival. One of such is financial support. Money is needed to pay workers, purchase materials for work, and settle financial obligations, among others. However, one of the challenges business owners have battled with for long has to do with getting funding. In this article, I provide a…
One of the areas that is of great importance to the leadership of every state or country is the social well-being of the citizenry. The situation is the same for Ghana. As part of efforts to safeguard the social prosperity of the people of Ghana, there has been the institution of a scheme that requires payments towards the social well-being…
Managing a business’s assets as an entrepreneur can be needlessly overwhelming. This can be made easier all year round with a simple and well-organized asset register template. What’s an asset register? An asset register basically shows the asset the business owns. It details the value of assets, date of acquisition (and of disposal) and other details necessary to compute for…
It has been said that “ignorance of the law is no excuse”. Many people have fallen victims of various laws and suffered numerous repercussions. Often upon investigation, it is realized that such people could have easily prevented those unpleasant moments by equipping themselves with knowledge of laws. In Ghana, the Ghana Revenue Authority has had to sanction some businesses and…
The first month of the year ended some few days ago and we are in a new month but have you stopped to consider how January performed, especially against targets and against January 2018? This article explains how you can do that by using budgets. If you do not have a budget for your business, we will provide a template…
In the past, most businesses never saw the need for financial reporting, they never appreciated how it will contribute to business growth and survival. Such businesses were often denied credit facilities they sought for business expansion and related reasons. They also suffered from losing a lot of business opportunities that having financial statements came with. The situation sadly still persists…
Overtime work may simply refer to the situation where an employee works over the normal number of hours to be worked as per the laws of Ghana and the regulations governing the firm he or she works for. For example, if an employee works for 9 hours when the normal hours fixed by the firm is 8 hours, the additional…
Tax refers to a levy placed on usually incomes earned or on goods and services as a way of raising revenue to primarily support developmental projects. Taxes are broadly in two forms: direct and indirect. While the former is levied on incomes of individuals and on earnings from property, the latter is charged on goods and services. There are a…