Who controls it? Who owns it? Who runs it? If you can’t answer these questions clearly, your family business could be headed for conflict.
Unless explicitly removed by statute, common law rights remain in force, and any rule that seeks to limit existing rights must be interpreted very narrowly.
The correct use of new technology can help a farmer become more profitable. However, being an early adopter of new technology holds risks that must be managed.
Trust is a potent force for good. Break it, and you and your business could suffer severe consequences.
Discord and bickering among members set a family business up for failure. A well-managed family council may be the answer.
There is a good chance that an assessment based on a ‘secret audit’ will be set aside in the absence of extenuating circumstances.
Ownership, directorship and management are three distinctly different roles. Be sure to remunerate fairly and correctly in each case.
In these uncertain times, it can pay to get involved in alternative investments. In fact, these have a number of advantages over stocks and shares.
Farmers living under the constant threat of farm attacks do not have the luxury of discussing this issue in academic terms.
The importance of a succession plan for a farming business cannot be underestimated, and must be prioritised.
Stock in trade is the lifeblood of a business. When stock is lost, or destroyed, the loss normally gives rise to a tax deduction. But this is not always the...
Ignoring succession planning, especially in a family business, is highly irresponsible.
Without proper education and mentorship, transformation projects are doomed to fail.
Energetic creativity is the difference between mediocre and great managers. But you have to work at it.
Two aspects of the Carbon Tax Bill to be implemented in South Africa in 2019 should be of interest to farmers.
It’s your job to find unique ways of adding value to your products to drive up profits.
If you have set up a trust, make sure you put it to good use to maximise the value of its assets.
Sustainable farming means taking care of the environment and making a profit. Farmers should be highly suspicious of advice that does not take this into account.
If you structure your business creatively, you’ll be able to save many thousands of rands in tax. Here are some simple, practical ways to do this.
Take great care to associate with ethical people and avoid those who are not. In turn, provide your colleagues with an impeccable example of integrity.
