A trade show or exhibition is an exhibition organised so that companies in a specific industry can showcase and demonstrate their latest products and services, study activities of rivals and examine recent market trends and opportunities. The benefits of trade shows: Improves awareness – It helps build the brand, knowledge of products, and enhances name…
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A home unit company is a proprietary company whose sole function is to act as the body corporate of a block of flats or units. The company operates as a body corporate to administer the property and to facilitate, protect and enforce the rights of company members concerning the exclusive occupation of the residential areas…
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Tendering is the process of choosing the best or cheapest company to supply goods or do a job by asking several companies to make offers for providing the products or doing the work. Tendering occurs in all parts of a business but is most familiar with government projects, construction, utilities, and infrastructure. Governments are heavily…
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Sponsorship can be defined as supporting a person or entity in one way or another as part of a business strategy. Sponsorship can achieve the following business goals: Image enhancement. Customer loyalty. Brand awareness. Lead generation. Increased sales. Creating positive publicity and heightened visibility. Keys to successful sponsorship: Clearly define your objectives – what are…
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A service guarantee is a marketing tool used to reduce consumer risk perceptions, signal quality, and differentiate a service offering. By delivering service guarantees companies entitle customers to an easy-to-claim replacement, refund or credit, when service delivery fails. The benefits of providing service guarantees are: Forces companies to focus on customers' wants and expectations in…
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Foundations are legal structures set up by some not-for-profit organisations to raise funds, hold funds and distributing funds (following the rules of the foundation). The advantages of a foundation are: Having a separate entity solely focused on fundraising can increase your organisation’s capacity to access the private sector and government funds. A separate board of…
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Sales training aims to improve the salesperson's effectiveness when dealing with a potential customer by enhancing their product knowledge, communication and presentation skills. Generally, the better trained an individual is, the better they should be able to perform in the field. Everyone in the company should have sales training as all company employees need to…
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Referral marketing is a method of generating business from new customers through referrals from established customers and other stakeholders. Whilst often a natural process, businesses can use strategies that encourage customers and contacts to refer a brand or product. A study conducted by the Goethe University Frankfurt on the customer referral program of a German…
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Farm discretionary trusts are used to acquire land for primary production while also providing flexibility so the property can eventually be transferred to other family members. There is a stamp duty exemption available for the transfer of farming land: From one or more individuals who are members of the family or a company whose…
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Personal services income (PSI) is income produced mainly from an individual’s skills or efforts. It’s income that has the characteristics of employment income. For PSI income, the only deductions allowed against that income are expenses an employee would be entitled to deduct. If the personal services business (PSB) tests are passed, then taxpayers gain the…
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"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"
- Bono: U2