Running a business without proper accounting is like flying blind — you may be moving, but you have no idea where you’re going… until it’s too late.
Here are the top risks of not fixing your accounting:
1. Cash Flow Problems
Without accurate books, you don’t know what’s coming in or going out. This leads to overdrafts, unpaid bills, or even payroll disasters.
Insight: 82% of small businesses fail due to cash flow mismanagement.
2. SARS Penalties & Audits
Late submissions, incorrect VAT or PAYE returns, and poor recordkeeping can attract hefty penalties or surprise audits.
Fix it now before SARS fixes you.
3. Missed Opportunities for Funding or Growth
Lenders, investors, and tender boards all ask for up-to-date financials. Without proper accounting, you’ll miss contracts and funding deals.
4. No Clarity = No Strategy
You can’t plan, grow, or cut costs effectively if your financials are messy. Good accounting helps you make informed business decisions.
5. Personal Liability Risk
If you don’t comply with SARS, CIPC, or COIDA regulations, you (the owner or director) could be held personally liable.
6. Lack of Investor or Client Trust
Clients and partners lose confidence when your finances are disorganised or non-transparent.
✅ Why You Should FIX Your Accounting:
Peace of mind
- Business growth
- Legal compliance
- Funding and tender readiness
- Accurate decision-making