| Entering into tender business can be exciting as | | | | Wholesale? Retail? |
| well as challenging. If you familiarize yourself with | | | | How long does it last? How does it need to be |
| the tendering procedures and do your homework | | | | stored? |
| before participating in tenders you will feel much | | | | What are the tax implications/cost? |
| more confident. | | | | What impact will the general sales tax have? |
| Try to answer the following questions before | | | | What staff do I need? |
| considering to start the tender business. It will help | | | | This relates to the staff requirements for tender |
| you a lot to understand your own point of view | | | | business. |
| about starting tender business. | | | | What staff is needed? |
| Why Tender Business | | | | How many people do I need? |
| Why do you want to start tender business? | | | | Who will do what work? Where do I get the |
| Is it a business that you want to build up and run? | | | | people from? Do I know people I can use? |
| Is it your side business? | | | | Who will handle and manage finances and money? |
| What's in for you? | | | | What other costs are there? |
| How many people does it require? Who? | | | | What equipment need servicing? |
| Requirements | | | | How much travel is involved? How much will this |
| What equipment do I need? | | | | cost? |
| What equipment is needed? i.e. Computer? | | | | What banking and government costs are there? |
| What space do I need to work out of? An | | | | How long will it take to set up the tender |
| Office? A room? Transport? | | | | business? |
| Do I have it now? Do I need to buy it? Could I | | | | How long does it take to set up the tender |
| hire or lease it? Could I borrow it? Is it essential | | | | business? |
| or just desirable? | | | | How long does tendering process takes? |
| What quality do I need? Questions of quality | | | | How soon before the money comes rolling in? |
| come in here sometimes cheap are tempting, but | | | | Is it worth doing the tender business? |
| not good in the long term. | | | | How much would I make? |
| How long does it last? 1 year, 5 year? | | | | Is it a large proportion of my income? |
| Is leasing better because you can upgrade? And | | | | Do I have to pay tax? What could happen if I |
| it's fully tax deductible. | | | | don't? Does it depend on who I'm working for? |
| If a bit of equipment is only used occasionally, buy | | | | How much does tax add up to? |
| or hire? | | | | What is the tax payable on different levels of |
| What are the tax implications/cost? | | | | tendering process? |
| What impact will the general sales tax have? | | | | What records do I have to keep? |
| What consumables do i need? | | | | What banking needs do I have to keep? |
| This relates to the materials that are used up on | | | | Do I need an accountant/bookkeeper? |
| daily basis. Possible questions are: | | | | How long will it take me/the bookkeeper? |
| What consumables are needed? | | | | Will the outgoing costs leave much of a profit? |
| How do I buy it? How much does it cost? | | | | What would that mean in profits per month? |
| Where can I buy it? What suppliers are there? | | | | |