Entries Written By Edward Neequaye
How to apply for the COVID19 Relief Fund for SMEs
For some time, small business owners in Ghana have been in expectancy of more information on the COVID19 Relief Fund for SMEs. In a nationwide address on Sunday, 5th April 2020, the President, His Excellency Nana Addo Dankwa Akufo-Addo announced the establishment of the Coronavirus Alleviation Programme (CAP), as part of measures to effectively manage …
Which banks in Ghana are the most SME-friendly?
SMEs are the lifeline of our economy in Ghana. However, many SMEs have been excluded in the financial services due to sometimes high cost associated with accessing financial services. So we have compiled all banks in Ghana and their charges, right from the minimum opening balance, cost of cheque books to commission on turnover and …
GRA extends annual tax returns deadlines in the face of COVID-19
The Ghana Revenue Authority (GRA) has extended the deadlines for the filing and payment of annual taxes. This is part of measures presented by the Minister of Finance in a statement to parliament on the Economic Impact of the COVID-19 pandemic on Ghana’s economy on 30th March, 2020. These fiscal measures are to prevent the …
Ghana Tax Calculator App
As business owners and accounting professionals we work with taxes on a daily basis. Finding a way to simplify how you calculate taxes is one of the holy grail of the accounting profession. For business owners, it is a way of taking away the complexities that certain taxes come with. Thus, it came as no …
Continent’s Potential Can Be Realised Through Technology
We are in a fast changing technological age which brings with it a huge leverage for countries and businesses ready to use it. I shared my thoughts on how technology can be used to accelerate efforts towards achieving the Sustainable Development Goals (SDGs), especially within continental Africa. Read it below: With 200 million people aged …
Technology Stack for Small Businesses & Startups – Part 1 Marketing
Running the various facets of your businesses requires the usage of certain technology tools. These tools are mostly to introduce efficiency in the operations of the business, by way of cutting down time required to achieve a goal or driving down the cost elements involved. In a series of posts, starting from this very one, …
How to Invoice with the new VAT system in Ghana [template provided]
Well, the new Value Added Tax (VAT) was brought into force last year but we still receive invoices from vendors of clients who used the old VAT rate. The old VAT system is at a rate of 17.5% which is made up of 12.5% for VAT revenue for Ghana Revenue Authority (GRA), and 5% paid …
Deadlines Approaching – What you need to know about renewal and filing at Registrar-General’s Department
In case you aren’t aware, next week Tuesday, that’s 30th April, 2019 is the last day for annual filing and renewal of business registration with the Registrar General’s Department for this year. According to the regulator, failure to do so attracts a penalty of GHS400. The renewal fee is as follows: Sole Proprietorship – GHS25 …
What Percentage of Revenue to spend on Marketing?
Marketing is an important part of every business. No wonder it is said that, “doing business without advertising is like winking at a girl in the dark. You know what you are doing but nobody else does”. For most businesses, especially those in the early stages of their operations with few data set on their …
Essential Bookkeeping and Finance Practices – Webinar Slides
If you miss our last webinar on how to prepare for 2019, especially quarter 1, using some essential bookkeeping and finance practices, we have shared the slides below for you: Webinar on Accounting and Tax Checklist – Built Accounting from Built Accounting