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Why annual price increases are crucial, and how to implement them

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Huysamen Westraad Incorporated December 2022


The Why and the How of Annual Price Increases

Businesses, particularly smaller ones, often neglect to implement annual increases in their prices, rates or fees: some due to poor management; many in fear of losing clients in a competitive market (as was particularly evident during COVID), and most simply due to a lack of know-how. 

The reality is that not implementing annual increases will directly impact your profitability, as your input costs increase each year due to inflation. Maintaining the same prices for goods or services, while the cost of inputs continues to increase, will soon leave you with a substantially reduced profit, especially in a high inflation environment. Find out here how structured price increases contribute to long-term profitability and how to implement increases without losing clients. 

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Simple Communication Tips to Boost Your Profitability  
What is the Metaverse and How Will It Impact Your Business?  
Your Tax Deadlines for December 2022  

Effective communication is vital to the successful functioning of a company. Not being able to get across the company's vision or what needs to be done and the parameters in which it has to be achieved will result in your business going under. 

But let's assume your company is part of the 59% where employees understand what their company is doing and how that's different from their competition. There still may be numerous little things that are going wrong with the way you or your team are communicating that could be hampering your productivity, and ultimately your bottom line. 

Ironing out these communication errors could see your team boost their capacity, meet their deadlines more often and ultimately lead to a more effective and profitable business.

The Metaverse is a hot topic around the world at the moment and it’s set to change the way we do business, yet many business leaders simply assume it has something to do with Facebook and are neglecting the opportunities that are presenting themselves with this new 3D internet. 

We examine this phenomenon, beginning with what it is and what opportunities it offers, as well as exploring the potential ways it could change your business for the better, and why missing out might be one of the biggest mistakes your business could ever make.
  • 7 December Monthly Pay-As-You-Earn (PAYE) submissions and payments

  • 23 December Value-Added Tax (VAT) manual submissions and payments

  • 29 December Excise Duty payments

  • 30 December End of the 3rd Financial Quarter

  • 30 December Value-Added Tax (VAT) electronic submissions and payments & CIT Provisional payments where applicable
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Thank you for your support in 2022.  

Have a Wonderful Festive Season, and a Happy and Prosperous 2023.

Enjoy the Break!

  Physical Address:

Manor House, Farm 3
Vineyards Office Estate 
99 Jip de Jager Drive 
Bellville, 7530 
Postal Address:

P.O. Box 1950 Bellville

Contact Details:

Tel: 021 945 1009
Fax: 021 946 4086



The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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