Outsourcing accounting functions is a solution for many business issues. In today’s fast-paced business world, outsourcing has become a popular solution for companies looking to streamline their operations and increase efficiency. One area where outsourcing can be particularly beneficial is accounting. Accounting process outsourcing (APO) can help businesses of all sizes to save time, reduce
Your best bet, given the rising inflation in your nation, is to invest in Sri Lanka’s IT sector. People might think it’s crazy investing (especially starting an IT firm) in Sri Lanka amid its economic crisis. Every bad thing will carry some good stuff. Let’s look at the possibilities through problems to enhance business profitability.
How to Register a Tax Free Company in Sri Lanka? Board of Investment of Sri Lanka acts as the country’s apex agency of promoting foreign direct investments, diversifying the sources of foreign exchange earnings, and increasing export earnings, encouraging, and fostering the establishment and development of industrial and enterprises within the Republic. It attracts and
Face-to-face transactions vs online business A fully online business, in a nutshell, is a business entity conducted entirely on the Internet which may generally encompass selling goods and services solely in cyberspace with no inventory. A traditional business entity means one which doesn’t operate in the online space at all, while a Hybrid business is
A very successful entrepreneurial journey begins maybe with a simple business idea. The business idea may be a solution to the problem(s) where it may be an innovative solution or a point of difference compared to existing solutions. Never mind, stepping forward to commence a business in an atmosphere where deep economic recessions and catastrophes
Cash Flows and Working Capital Management for SMEs Be Safe – Stay at home __________________________________________________________________________________ By Chamara Bandara – Consulting Entrepreneur chamara@scbcorporate.com
The Central Bank of Sri Lanka has issued a new circular (No. 05 of 2021) that facilitates granting concessions for businesses and individuals affected by the COVID-19 third wave. The extract of the CBSL circular is as below. CIRCULAR NO. 05 OF 2021 ISSUED BY THE MONETARY BOARD OF CENTRAL BANK OF SRI LANKA ISSUED
Self-assessment tax Self-assessment tax is not a kind of separated tax. It is a part of the income tax and a method of tax computation and pay income tax in advance. The Inland Revenue Department requires you to pay estimated income tax based on your self-estimated taxable profit for the current financial year. For that,
With this changing business world “business as usual” is no longer an option. So, to confront the changing environment, you need to have a system in place to move ahead with the changes. All changes involve a risk. Some risks can be avoided, and some must be accepted. While accepting or rejecting change request, consider
No matter the size of the business, whether it is small or big, financial management practice of business and financial disciplines of owners and management play a major role in business success. A business is no longer to be said as a successful business if it incurs continuous losses and liquidity problems. Many businesses in
