About You

We are ready to partner with you no matter what stage you are in your journey

It all starts with an idea

That initial Spark!

So you know deep down that this is not just any business idea. You know that this particular one is special it has potential, you owe it to yourself to nurture and chase it. So….. where do you go from here?

This is the idea stage of your new business, and it is important to get the foundations right now so that life and is easier down the line. Before you get started , do your research, get as much advice and knowledge as you can to give your new business every chance of making it.

Turning a great idea into a viable business

Pick your business well

It doesn’t matter how great your idea is – unless there is demand, it will not take off. Research!, Who is your potential competition?, Put yourself in the shoes of your ideal customer base. Then, pick the right moment to jump in – timing is everything in business.

Write your business plan

It doesn’t have to be 600 pages long; but you have to show, on paper, that you have thought things through. Your business plan must describe the important elements of your business – think about the management structure, financial projections and objectives – your plan must provide a clear roadmap to help you stay on track. If you want to go the extra mile, detail a marketing strategy and your competitor analysis; think about operating procedures and future workforce needs. ABOVE ALL put it on on paper to make it real.

Plan Your Finances

How much capital will you need to generate revenue and reach profitability? You may need to secure financing – from the bank, or from investors. They’ll all ask to see your business plan and roadmap to assess the viability of your business idea.

Take care of the details

Running a business requires more than just an idea to thrive – or even to be compliant with legal regulations. You’ll need business banking and credit accounts, insurance, maybe even staff. You’ll need to be registered correctly for VAT, PAYE, and other tax needs. And you’ll need to be legally set-up to be able to trade – this is where your chartered accountant or business advisor becomes key. Seek professional advice to choose the right legal structure for your business, to file paperwork with CIPC , and to obtain any other licenses or permits you’ll need to operate.

Challenges in this stage

Work with a business advisor who can help you keep focus. INCS Accounting Tax & Advisory services can help with both set-up and planning, including:

Legal structure and set-up, including advising on the best company type for your operations

Preparing your business plan

Introducing you to financiers and investors

Investigating any government grants you can utilise

Tax registration, planning and paperwork

Get in touch with us to discuss how we can help your idea become a business.

The Startup

So your idea grew legs, things are now in motion. The new business is legally set-up and ready to take off. It has been “born” – now is the time to get out there and start making that idea a reality! …REALITY is the key here, because real life will start sinking in and things can quickly get out of hand unless you’re prepared.

Welcome to the reality of life in a startup

1. You will burn through cash quicker than you can say “I run my own company”

No business is born with ready-made customers and cash flow. The challenges here are to manage cash reserves and sales expectations while establishing your customer base and market presence….. While you are doing all of that, you are spending money on staff, stock, marketing and everything in between.

2. Worries and sleepless nights; welcome to the new normal

Your business; like your child; is totally dependent on you and your abilities; whether it thrives, survives or dies is on you. There is off switch.

3. There will always be something that needs doing

Startup life is living in a lean, mean machine. Resources are tight, and there are only 24 hours in a day. You will find yourself in four shop at midnight; replying emails at 2am; missing the morning jog to attend a networking breakfast. It can be exciting – but it can also be exhausting.

Start-up life is exhilerating, too!

That seed you planted is coming to life

There is something extra satisfying about seeing your plan turn into a thriving, real-life business. You invite other people into the business, it grows exponentially. You bounce ideas off each other, you find new ways of doing things, new avenues to explore.

New opportunities start popping up

Each day comes with a new opportunity – a new client, a new development, a new potential route to growth. If you’re lucky, you will have lot’s of opportunities just ready and waiting for you to pursue them.

Growth can come lightning fast

If you assessed the market right, you could grow quickly. Look at a tech company like Zoom – in December 2019 it was hosting an average of 10 million daily meetings, and 3 months later in March 2020 Zoom was hosting 300 million meetings daily. Now that is a wild ride.

Lesson for the future: ignorance is no defence

A lot of things will demand your undivided attention all at once; it is best to work with a business advice partner who can help you keep focus. INCS Accounting Tax & Advisory services will help your start-up thrive through:

Bookkeeping and accounting

Cloud Accounting

Payroll and HR services

Risk assessment

Business licenses

CFO services

Business strategy advice

Introducing you to financiers and investors

Investigating any government grants you can utilise

Tax planning and paperwork

Get in touch with us to discuss how we can help your start-up thrive.

Scaling up

Congratulations you now have customers and there is demand for your product, and… you also have excitement, things are looking up – then you remember that 90% of all startups fail. How do you ensure your business scales up to become a thriving one with a long-term future? It is common knowledge that businesses growth rates vary wildly, one size does not fit all, every business has unique needs and circumstances. This is why expert advice is essential.

Every growing business experiences growing pains

Make sure that it is the right time to scale up

The Startup Genome Project found that premature scaling is the reason why 70% of startups fail; don’t spend money on things like sales and marketing until you have zeroed in on the product/market fit.

Processes and Controls cannot be dirty words

In those exciting days of youth, everything is touch and go, you can go without things like “the way we do things”. Now, though, you must get your financial house in order. Sort out your systems, processes and your ways of working. Professionalise your accounting , finance and cash flow.

Think about the issue of capital

To grow and scale to the next level, you are going to need an injection of capital. What is the best source of capital? Expert business advice at this stage can help you to make the growth move smooth, safely and with eyes wide open.

Stay focused and scale your business

Revisit your business plan

You absolutely have to be operationally and financially efficient. Take a closer look at your team, your operations, your sales volume. You may want to revise sections of the business plan to reflect how far you have come, and what the next stage will mean for you.

Invest in and surround yourself with smart talent

The smart way to focus is to hire people with skillsets that complement each other; these are the people with whom you can innovate and scale. And you will need all the smart talent you can get, because at this stage the competition is starting to notice you. Make sure you are attracting top talent with a strong benefits package, or else the competition will steal the talent, too.

But seriously, now the right time to scale?

Growth and expansion into new territories always comes with risk, it may pay to spend a bit more time stabilising before pushing forward. Working with an expert bussiness advisor can help you to mitigate the risk.

INCS Accounting Tax & Advisory services can help your growing business through:

Updating and streamlining your business plan

Introducing you to financiers and investors

Tax registration, planning and paperwork

Expansion into new markets

Company structuring

HR and payroll

Cloud accounting

Employee benefits packages

Get in touch with us to discuss how we can help your business to grow efficiently and compliantly.

Mature business

So here we are, Congratulations! You are one of the 10% who make it past startup life, and manage to scale up with intelligence and promise. There are still headaches to be taken care of, though.

Established businesses must play a game of patience

No time to rest on your laurels

If you climb Mount Everest and sit down; you freeze to death. You have to guard against complacency. You have reached a level of market knowledge and dominance ; and you are now a stable presence in the industry. This is both a blessing and a curse; If you do not continue to push forward and innovate, you will grow stagnant and lose market share. On the other hand push too hard, and you will flounder.

Therefore, keep your focus!

Focus on continuous improvement and productivity, better business practices, automation and outsourcing. You can even consider bringing in external consultants and business advisors to help you work out where to go next.

Consider your own position in the business

Businesses tend to change leadership at this stage; they bring in an experienced CEO to help with further expansion, or they exit the business. Examples of change at this stage include Jeff Bezos stepping down as CEO of Amazon, Bill Gates also used to be CEO of Microsoft at one point. The question is not just one for business growth, it is about your own personal growth and vision, too.

Is the company ready for more?

Even with consistently strong and stable profits, make sure there is enough opportunity in new markets and, more importantly, that your business is financially stable enough to recover from an unsuccessful attempt at expansion – because that happens more often than you think.

Compliance is key, especially for mature business

Think about outsourcing support

While you are working on your new business model, the wheels need to keep turning. Staff still need to be paid, tax returns need filling, transactions must be monitored. Outsourcing your back-office functions – things like accounting, regulatory compliance, payroll and taxes – will bring you the efficiencies you need to focus leadership attention on expansion. Outsourcing essential business functions can also boost growth by helping you to land and expand quicker, more smoothly and more effectively than setting up an entire new team.

Due diligence must be done

Keep an eye on compliance with regulations and law. One misstep with regulation, and you could face large fines and even threats to your businesses survival. Keep up to date with changes to regulations, and have someone you trust doing the checks and balances.

New horizons are calling

It is in these expansion phases that business advisors become key. INCS Accounting Tax & Advisory services can help you with the next step in your business, including:

Outsourcing for HR, payroll, accounting, tax and compliance

Updating your business plan

Company secretarial services

Tax registration, planning and paperwork

International trade and employment licenses

Cyber risk analysis

Exit planning

Get in touch with us to discuss the next steps for both you and your business.

Your Exit Strategy

This is your opportunity to cash in on all your effort and years of hard work, you can sell to management or another company. Maybe things haven’t gone so well, meaning you have to wind down and shut the business. Either way, you will need business exit strategy advice from an expert.

Seek advice for your exit strategy

Have you prepared yourself?

Selling your company can be an emotionally charged decision. Take a step away from your feelings to make sure you are personally prepared to exit, then bring in some business exit advisors to assess the business’ operational readiness.

What is the business worth?

You May have built the company with on your blood, sweat and tears, but your idea of a fair value may not reflect the market, contrary to popular belief the main problem we encounter is companies being undervalued. Consider not just the number on the board, but also what you will have left after taxes, professional fees and other costs of exit. It might even end up not worth it to sell.

Outline your plan for transition

Scan your operations, management and competitive barriers. Assess your options, processes, ownership structure and legal requirements. If you are selling, you should work closely with the purchaser to ensure a smooth transition to the new operation. If you are winding down, consider other factors like – what happens to your staff, your assets or your records?

Keep your focus

If the business performance starts to drop before the deal is sealed, it will affect the price. Make sure the potential buyer knows that this is a growing business as it will help your negotiating position.

Business exits are not exclusively for the successful

Cut your losses and run!

It is a hard decision to make, but put aside your emotion and take an honest look at the state of your business. Trying to save a failing business can actually cost more than it is worth.

Sometimes external pressures force your hand

Life happens; your health, family or partner problems can force an exit. A takeover bid or a mutinous staff can weaken on your leadership. It is important to have an exit strategy in mind, even if it is not fully formed, because you never know what is around the corner.

Exit right

From that gem of an idea, to a fast paced startup, to a growing and then mature business, and finally to a global organisation. Or, from an idea that unfortunately failed. If it is time for something new, then it is also time for an exit and INCS Accounting Tax & Advisory Services can help you with:

Exit planning

Handover strategy

Tax consolidation

Debts and liabilities

Cash flow review

Company secretarial services

CFO services

Get in touch with us to discuss how we can help you exit your business painlessly

I am an individual

People generally do not to fit into boxes. Everyone’s tax planning needs will have their own nuances; different paths will be open depending on your profile. It is important that you work with a registered tax practitioner who will listen and adapt with you. As a salaried employee yo are severely limited when it comes to the tax deductions available to you, however there are still ways in which you can reduce your tax burden.

Some of the ingredients of an effective personal tax stategy:

Your pension

You are never too young to start thinking about your pension. The sooner you start, the more time your pension has to mature and grow, and that means you will have a more comfortable retirement lifestyle. Another reason to get a pension is that pension contributions can be used to reduce your tax liability.

Personal Savings

Stories of economic uncertainty are all over the media, interest rates are unpredictable and stock markets in a flux. What was a solid savings account even a year ago could now be a risky option. It is important to keep an eye on your savings and ensure they’re working for you now, and in the future. Another reason to save is that the South African Government, in an effort to encourage individuals to save, has instructed financial service providers to create tax free savings vehicles. Talk to a tax practitioner to see how you may benefit.

Invest Wisely

Solid investments are a great way to grow your wealth, as long as you invest wisely. The South African Government, in an effort to encourage individuals to save, has instructed financial service providers to create tax free investment vehicles. Talk to a tax practitioner to see how you may benefit.

Choose a tax practitioner who understands your needs

The key to finding the right tax practitioner is working out exactly what type of advice you need. You may need help investing for a pension. You may be eligible for a tax refund from SARS. You may want to invest into shares. Maybe you are selling your home. At the end of the day, you want to build your wealth, protect your wealth, and enjoy your wealth. Expert personal tax advice can help you to do this.

Maximise your wealth for future generations

Individuals want to do many things. For example, you could be seeking personal tax advice to:

Have a secure retirement

Pass assets to the next generation

Cover the costs of long term care

Pay for education

Grow assets

Reduce their tax bill

Your tax practitioner will guide you to a place where you can rest happy with the knowledge you have structured your tax affairs in a sensible way – and that your family will be provided for after you are gone.

INCS Accounting Tax & Advisory services is the personal tax planning service provider you need.

Get in touch with us to discuss how we can help you plan your affairs in a tax efficient manner.