Why are you an entrepreneur?
To make money, of course for yourself. This might sound selfish or a narrow aim at the outset. In the process of you making money for yourself, you pay for goods, expenses, employees and of course taxes. You pay for your corporate social responsibility. So on the way of your making money for yourself, you are making so many others rich. RSM believes that entrepreneurs are selfless and not selfish as they are generally perceived. Entrepreneurs are national assets to be supported and entrepreneurship is national wealth to be nursed.
Business Health Checks
You may buy wrong goods or pay for expenses excessively or have wrong employees or may be overpaying tax. You may spend money for corporate social responsibility which may build your image but not customer loyalty or identity or stakeholder support. Any error you make in the process can totally vitiate your ultimate goal of making money for yourself. You surely need business health checks. RSM has dedicated business professionals who can visit your business once a month to carry out checks in rotation and advise you of critical steps you need to take to improve your business.
Business Value or Equity Building
Health checks can surely grow your business but yet you may not build business value or equity, meaning that you could become a part and parcel of the business, losing the much needed balance in your personal life, causing the business not grow beyond your capacity, closing the business when you get old and spoiling every opportunity to sell the business. So after some stage, you don't need so much of health checks, but on the contrary you will need value building consulting, meaning advice and direction on what measures you need to take in order to improve the value of your shares or equity or business, as the case may be. RSM has dedicated business professionals who will visit you to carry out certain initiatives and measures that can multiply your share value in the business.
Business Valuation Services
Professional valuation of your business is usually done when you sell shares or admit new shareholders or sell your business. But it is a good practice to value your business so that you have a rough idea of what your share or equity is worth. You can set goals to increase the valuation amount to the desired value by taking certain steps. Therefore in a value or equity building programme valuation becomes very important. We have performed valuations for many entrepreneurial businesses. Anyone who would like to sell his business or would like to buy a business, can list the business or the purchase intention on RSM Botswana website, totally free of cost by using this link: https://www.rsm.global/botswana/office-contact-form. This facility also give us practical insights into value determinants thus allow us to conduct the most predicable valuation based on the merits of each case.
Cashing Business Value
Business value is not in books or on a piece of paper. It is the real cash value that you will get when you admit a partner or when you sell your business or when you seek funds from Botswana Stock Exchange. Therefore at RSM Botswana we will not stop with increasing your business value on paper, but we will be able to show you the money, if you meticulously follow the measures we suggest in our value building consulting within the time frame that we both agree.
Trusts for Families and Closely held Businesses
Sometimes an entrepreneur would love to leave the business for the next generation instead of having to be paid cash by sale or admitting partners. Family trusts are often made to cater to this situation. Family Trusts are also make to protect assets or distribute income. In these circumstances, you will need professional trustees to be your responsible advisors and representatives to take over your ownership responsibility.
As professional trustees we represent you the investors or owners. As trustees or investor representatives, we appoint directors under your instructions and carryout other professional oversight tasks in strict accordance with Trust Deed that is created especially for you in your situation. A Trust is not one-size-fits-all solution and is driven by probing questions and a deep understanding of your unique circumstances, your family, your goals.
We will work with your attorneys in forming and managing trusts.
There is always a big question asked about tax benefits of a Trust. Trusts are conduits and they retain the character of the income in the hands of beneficiaries and thus pay no tax. This is in a situation where trusts receive and disburse funds to beneficiaries. But when Trusts conduct business themselves, they pay tax. Tax is a complicated topic when it comes to Trusts and more detailed information is required to ascertain the tax provision. Important point to note is that one needs to form a trust for the inherent benefits the arrangement has, rather than for tax benefits, although there are situations where tax benefits would occur.
We prepare business plans using 6M methodology (Men, Materials, Management, Market, Money and Machines) for a new business and also for expansion of existing business. We speak to the bank or the prospective financier or the partner and understand his perception and evaluation criteria and prepare business plans to suit specific requirements of the financier or joint venture partner. We thus don't use a fixed format or style. Our focus to bring out the desire and aspirations of the entrepreneur in business liternature and finance sense.