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Business plan, Day 1 checklist and financial ratios
A business plan is essential for every entrepreneur and is the mainstay to the success of a business. It's a roadmap of how a particular business wants to achieve its goals and should include its operational, financial and marketing strategies.
Download business plan template
Are you ready to open your doors on day one of your business? There are many steps to take before you can start this new venture in your life. Let us help and guide you with one of the biggest decisions of your life.
To be successful in business you need to understand financial ratios and how to interpret them. This will give you valuable information about the performance of your business and to benchmark yourself against your peers in the industry in which you operate.
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Consider business tax
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Register your business
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Open a business evolve account
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Business tools and advice
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Directors and officers liability
- Directors and officers liability insurance provides protection for directors and officers of a company for claims arising from allegations of wrong-doing committed while performing their roles
- Since directors and officers can be held personally liable for any acts of the business, it is advisable that they will request to be protected rather than put their personal assets at risk
- Section 78 (3) of the South African Companies Act makes provision for directors and officers of a company to be protected against such claims through directors and officers liability insurance
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Public Liability
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Buy-and-sell agreements
If you are in a partnership it’s advisable you sign a buy-and-sell agreement with your business co-owners. A buy-and-sell agreement has the following benefits:
- Gives you, in the event of your death or disability, leeway to sell your shares in the business to your partners
- Allows each partner to take out life or disability cover on the other partners’ lives which pays out on their death or when they become disabled
- Protects your investment in the business
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Comprehensive business insurance
