Maximise your online presenceVision statementSaving money in your businessTips for delegating from the topCorporate wellnessWallrich gives a helping hand at theAbraham Kriel Golf dayTAX TIP - Are you aware of…Companies ACT snippetDeadlines looming

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F I N A N C I A L M A N A G E M E N T A C C O U N T I N G

always accountable

It has never been more important to understand how potentialcustomers might be using the web and web based technologies tofind out who you are and what you can offer them.

Here are three suggestions for developing your online strategy:

Optimise your site so that potential customers can find you...

An estimated 70% of web users search for products and serviceswhich can be provided to them from a local supplier. Your firstaction should be to optimise your site so that users searching foryour products and services in your town or surrounding areas canfind you.

If you operate regionally, nationally or provide niche services thenobviously your potential client base is much wider and you needto promote your USPs more. Discounted online purchases andfree or next day deliveries are very popular with searchers lookingto beat high street prices.

Make sure they can find you somehow...

Try typing in the search term for your product or service and yourlocal area. There will be numerous directories, many of which arefree to add entries to enable you to build on your onlinepresence. More often than not, a user should not be more than 3clicks away from your site and this might help drive customers toyou whilst at the same time helping out with your position in localsearch listings.

Many of these offer the opportunity to write reviews and gradebusinesses, so why not ask some customers to spend a fewminutes doing this so your directory entry carries more weightthan your competitors.

Maximise your online presence

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Build on your online presence...

Only fractionally more than 50% of searches are on websiteaddresses. Very few URLs have made it into the humanconsciousness and many users simply search on brand names inthe assumption that the site they are looking for will appear topin the search engine results.

Regardless of whether your site appears first or not, you need tobuild your online presence away from your website. “Pay PerClick” ads, online directory entries, online press releases, localcommunity and press websites all offer the opportunity for you tobuild your online presence so hopefully customers who know youand search for your brand will find numerous other web pagesdetailing your services and contact details.

Much of these can either be free or incredibly cheap forms ofmarketing. If you can build links back to your own site from thesepages, this will help with your position in local search listings.

Not sure where to start? Well first of all I would recommend usingthe “Google Keyword Tool” to see the phrases being used for theproducts and services in your local area.

If you are interested in discussing this further, please contactalex@mscom.co.za for more info.

Vision, mission statements and strategy are often confused termsin business. In reality all of them are quite different and arecomplementary to each other.

A vision statement is essentially what the leaders of anorganisation want the business to become. It is aspirational andtypically forward looking – generally focusing on 10 or more yearsinto the future. On the other hand a mission statement explainswhy a company/organisation exists and almost never changethroughout the life of a company. A strategy is the roadmap thatdefines how a company is going to reach its vision. Strategy isaction oriented and lists the major initiatives that a company hasto implement in order to achieve its vision.

Vision Statement

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One thing that all successful businesses share in common is tohave a vision. A company with a vision knows where it wants togo over the long term. Many business leaders and CEOs engagetoo much in short-term priorities and forget to take the actionsthat will help them realise their long-term goals. A visionstatement and a strategy defined to achieve the vision ensuresthat a company is organising its activities around achieving itslong term goals.

One good example of vision and strategy in action is GeneralElectric (GE) during the leadership of Jack Welch. When JackWelch became CEO of GE, which consisted of dozens of verydifferent businesses, he developed the following vision statementfor the firm:

"Become the number one or number two in every market weserve and revolutionise this company to have the strength of a bigcompany combined with the leanness and agility of a smallcompany".

Of course having vision without strategy would not work.Therefore he rigorously implemented a strategy that divestedbusinesses that weren't either market leaders or number two intheir respective market segments. He implemented "6 Sigma"initiatives across all of GE to drive efficiency and make thebusiness a lean and agile organisation. A strict performancemanagement system was implemented and everyone at GE hadnumerical goals. Success of an individual was measured strictly bytheir achievement of personal goals.

Successful leaders are great not only at setting visions but also at"walking the walk".

All businesses are dedicated to saving money wherever possiblethese days. The economic downturn has brought with it a newfocus on cost saving. Here are a few ideas which you canimplement in your business in order to save money.

Use Less PaperA lot of initiatives used by businesses to go green can also be usedto save money. Paper saving is one of these. The office can savepaper by printing out only those documents that are necessary;using a smaller font size helps utilise less paper. Printing on bothsides, and sending the paper out to be recycled helps both theenvironment and the company’s finances.

Switch Off ElectronicsAll electronic and electrical items can be switched off when not inuse to save electricity and money. Encourage your staff to turn offtheir computer before leaving the office each day and switchmonitors off during lunchtime, etc in order to reduce powerconsumption. Other initiatives to consider include introducing apolicy of turning off the lights when leaving a meeting room – thenext person to use the meeting room can always turn them backon when they need them.

Cut down on TravelWith the huge increase in fuel prices, travel has becomeextremely expensive. Mileage expenses can also be a huge outlayfor businesses. You can cut down on the level of staff travelrequired by your firm by hosting meetings over video conferenceor teleconference. If travel is truly necessary, employees shouldbe encouraged to car-pool instead of taking two or more separatecars to the same meeting.

Alternative SystemsMany offices spend huge amount of money on lighting and air-conditioning. The air-conditioning does not always have to bekept at 18 degrees. Consider adjusting the temperature by acouple of degrees (while still keeping it comfortable) and thedifference it makes to your electricity consumption can besubstantial. Many businesses have even installed solar panels onthe roof of their office building, to generate their own power.Solar panels are expensive to install but pay great benefits in thelong run.

Saving money in your business

Tips for delegating from the topWe all know that delegation is important in business. However, ifand when you find yourself as the Managing Director, CEO orManaging Partner it is important to remember that you can’t do itall yourself. Delegation skills are particularly important to theleaders of an organisation as this sets the bar for the entiremanagement team. In order to succeed at this enormous taskthey will need to make choices about delegating the right work tothe right employees.

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Delegation of responsibilities is not easy. It requires a completereview of the entire talent pool available within the businessbefore the people who will be chosen to complete the task can beselected.

Choose the right personThe very first step is to choose a deserving person for a particularresponsibility. The selection should be unbiased and based on acandidate's skill, attitude, determination, adaptability, and abilityto handle responsibilities. The person should be self-motivated,hardworking, and most importantly a team player.

Give adequate training and time to the personWhen delegating responsibility to your team, help them bydefining a road map, give guidance and allow adequate time forthem to transition into their new role and its responsibilities.

Show confidence in their abilitiesBoost the confidence of employees by showing your faith in theirskills and abilities. Show them the direction in which you wantthem to proceed and motivate them to move ahead with theirown instincts and methods. Let them handle challenges with theirown strength and take their decision (under your supervision andguidance). Don't interfere unnecessarily and try to give them thefreedom they need in order to complete the task. This willultimately build trust within your firm.

Maintain your InfluenceBusiness leaders should delegate responsibilities to deservingteam members but should not delegate their influence. TheManaging Director’s influence ensures harmony and balance in anorganisation. Being at the top of the pyramid, the ManagingDirector can keep an eye on the complete operational system andcan identify the loopholes and weaker links.

As the current economic climate puts staff under increasinglevels of stress, businesses have begun to shift their focus tocorporate wellness. So, what defines a good corporatewellness programme?

A common characteristic of good wellness programmes is thatthey are customer driven, meaning that they solicit on-goingfeedback from the end users (such as your staff) on programmedesign and operation. In fact, failure to gather employee inputplaces your programme's success at risk. An important tool forthis purpose is the “corporate wellness needs assessment”, whichsystematically evaluates how the environment (social, work,personal) and worker perceptions affect their ability to practicehealthy lifestyles and participate in your initiatives.

The needs assessment reveals how a group believes thingscurrently are against how they want things to be. These beliefsrepresent reality as the group sees it, usually associated withorganisational and/or individual performance.

When conducting a needs assessment, a business owner ormanager should survey as broad a cross-section as possible.Following this, it is worthwhile to try and identify wellness needsby major sub-categories within that group, such as male/female,ethnicities, hours, age groups, or departments. For instance, thenutrition challenges of shift workers would require differentwellness program elements from day workers.

Be sure to include anyone with a unique perspective about thetarget audience -- insurers, vendors, unions, department heads,senior management, healthcare providers and externalcustomers. Each group can provide important input on their ownprogramme expectations and concerns.

Remember, the most thought-out program in the world will fallflat if the target audience doesn't perceive it as having value.Don't make the mistake of assuming you know what they needand want - ask them. Then incorporate the results into yourwellness programme plan.

Corporate wellness

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Wallrich gives a helping hand at the Abraham Kriel Golf dayOn the 12th of June, the annual Abraham Kriel Golf day took placeat the Randpark Country Club in Johannesburg. This was the 20thedition of the event that was initiated by Bill Viljoen of LloydViljoen Auditors back in 1992. In 2006, Louw & Heyl Attorneys tookover the hosting and main sponsorship of the event.

Sandra Nel of the AKC Marketing and Fundraising Department andher team of helpers achieved a playing field of 31 four balls. Theevent is one of the many fundraising initiatives that the AbrahamKriel Childcare home activates to ensure the wellbeing of theirchildren “We have raised nearly R100, 000 on the day and morethan R1 million during 19 events since our first golf day in 1992.The funds raised will help to sustain strategic services for thechildren including transport to schools and special events, essentialservices for baby care, three meals every day and pocket moneyfor the teenagers” says Sandra

The event was accompanied by on-course marketing andrefreshments by sponsors, lucky draws, raffles, an auction andmany prizes for the performing teams. The winning team for theday was Altech NuPay represented by Stian Lombard, Pieter-BenPienaar, Riaan Jansen and Andy Turner.

This year AKC is celebrating its 110th anniversary as anorganisation that cares for neglected, abandoned, abused andhighly traumatised children. Wallrich continued its support of theevent offering continued sponsorship. The event is a much neededbreak from work and provides an ideal platform for organisationsto expand their networks.

For more information on Abraham Kriel Childcare, please visitwww.abrahamkriel.co.za/

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TAX TIP - Are you aware of…A registered taxpayer must inform SARS within 21 business daysany change that relates to:

Postal address; Physical address; Representative taxpayer; Banking particulars used for transactions with SARS; Electronic address used for communication with SARS; or Such other details as the Commissioner may require

by public notice.

Appointment of public officer

A company carrying on business or having an office in SA must atall times be represented by an individual residing in SA whomust be:

A senior official of the company approved by SARS (which approval may be removed if SARS believes a person is no longer suitable as a public officer); Appointed by the company or by an agent or attorney who has authority to appoint such a representative for the purposes of a tax Act; Called the public officer of the company; and

Appointed within 1 month after the company begins to carry on business or acquires an office in SA.

No such appointment is deemed made until notice thereofspecifying the name of the public officer and an address for serviceor delivery of notices and documents has been given to SARS.

A company must:

Keep the office of public officer constantly filled and at all times maintain a place for the service or delivery of notices; and Notify SARS of every change of public officer or the place for service or delivery of notices within 21 business days of the change taking effect.

Public officer responsibilityA public officer will be responsible for all actions that the companymust do under a Tax Act, and is subject to penalties for companydefaults.

The actions of the public officer acting in that capacity, will beregarded as the actions of the company.

F I N A N C I A L M A N A G E M E N T A C C O U N T I N G

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1st Floor, Randpark Building20 Dover Street,Randburg

PO Box 2444,Randburg,2125

Tel: +27 (0) 11 789-1011Fax: +27 (0) 11 789-1012E-mail: info@wallrich.co.zaWeb: www.wallrich.co.za

Chartered Accountants SA

S u b s c r i b e

U n - S u b s c r i b e

Companies ACT snippetDid you know that you need a special resolution to -

a) Amend the company’s Memorandum of Incorporation;b) Ratify a consolidated revision of a company’s Memorandum of Incorporation;c) Ratify actions by the company or directors in excess of their authority;d) Approve an issue of shares or grant of rights;e) Approve an issue of shares or securities;f) Authorise the board to grant financial assistance in the circumstances

contemplated in section 44 (3) (a) (ii) or 45 (3) (a) (ii);g) Approve a decision of the board for re-acquisition of shares;h) Authorise the basis for compensation to directors of a profit company;i) Approve the voluntary winding up of a company;j) Approve the winding up of a company;k) Approve an application to transfer the registration of the company to a

foreign jurisdiction;l) Approve any proposed fundamental transaction, to the extent required by Part A

of Chapter 5; orm) Revoke a resolution contemplated in section 164 (9) (c).

Deadlines Looming31 August 2012

Provisional tax returns for 2013 for individuals and entities with February andAugust year ends.

30 September 2012Third top up provisional tax returns for 2011.

30 September 2012Estate agents audit certificates