Dear Editor,THE ultimate goal of every entrepreneur is to make profit. When the business is making profit, it will be able to sustain itself both in the short term and the long term.However, there are certain things which should be avoided in the business to ensure sustainability of the business enterprise. The following are some of them;(a) Tax evasion: There is a tendency among some entrepreneurs to avoid paying tax to Zambia Revenue Authority (ZRA) through tax evasion. This is a serious offence which has dire consequences such as seizure of the assets by the creditor’s’ bailiff. Every business entity in Zambia is required to remit the appropriate tax to ZRA.(b) Lack of keeping records: Record keeping in every business enterprise is very important in that every amount is properly accounted for. When proper records are kept, this helps in determining whether the business is making profit or loss.In this regard, it is important to […]
THINGS TO AVOID IN BUSINESS
