by Aleshia van der Ploeg, Director, VDP Legal Consulting

Do you know your business? I mean, do you REALLY know your business? Do you know what your finances look like or does your accountant simply handle that? Do you know what money is coming in or going out every month and are you actually making a profit? Do you know what contracts you have entered into, what the actual terms are and how long they are valid for? Are your tax returns up to date or do you assume your accountant is responsible for that too?

by Aleshia van der Ploeg LLB, Director VDP LEGAL CONSULTING (PTY) LTD

Ever thought about what will happen to your business when you die? No? Well, maybe you should – you are your business’ most important asset! You don’t want your passion, your lifeblood, all your hard work to die with you!  Isn’t the whole point of being an entrepreneur to create a lasting legacy – not only for yourself but for your family too!

by Aleshia van der Ploeg LLB. (RAU), Director of VDP Legal Consulting (PTY) Ltd

I have had numerous clients hearing the adverts on the radio, or being misinformed by their fellow entrepreneurs, and calling me in a panic about the POPI Act - Protection of Personal Information Act. So let me unpack it for you...

Every now and then, one lucky, deserving entrepreneur gets their ‘big break’ and with it, the opportunity to go into business with a major corporate. Unfortunately, some are so blinded by their ‘success’ that they don’t properly consider what this new venture may actually entail. 

by Aleshia van der Ploeg, founder of VDP Legal Consulting (Pty) Ltd

We enter into contracts every single day, most of the time, not realising we are doing it! When it comes to your business, it is very important to know when you are entering into a contract or an agreement, and what the terms of the contract/agreement are, as this can have an impact on your business.

As a business owner, you need to ensure your business runs smoothly and you need to mitigate your personal and business risk. Here are 5 ways to protect yourself in business.

When you sign an agreement, the general rule is that you are bound by what you sign – this is why it is very important that you read your contracts before entering into them and, whenever possible, appoint an attorney to assist you.

Many entrepreneurs will enter into many contracts in their lifetime. Unfortunately, some are not even aware that they have entered into a contract, and some have no idea of what they are actually signing. The law of contract is important because it gives importance and enforceability to a promise.

When you decide to start your own business, there are various legalities that you will need to take into account – below is a simple checklist of factors you may need to consider.

When you decide to start your own business, FIRST AND FOREMOST, you need to decide which legal entity you are going to use to house your business. Your business entity will depend very much on the nature and size of your business, and should suit your specific needs. Each legal entity in South Africa has different pro’s and con’s, and each entity is regulated by different laws.