January to June 2017 – In January, the ABCSI declared 2017 to be a year of advocacy as it seeks to build closer bonds with its member Associations and create a platform through which concerns are aired and solutions sought. The forums also play a crucial role for educating and knowledge sharing. True to word, the ABCSI has gotten into a rhythm, and members can expect to be treated to these highly informative sessions roughly every two months. Here’s a brief outline of our last two forums: –
The Free Movement of People under the CSME
Guest speakers at this forum were Ms. Michelle Joseph, Ag. Snr. Trade Analyst in the Ministry of Trade, Labour and Sports and Ms. Shennell Govia, Free Movement Officer, in the Department of Labour. Both ladies delivered an excellent presentation entitled “The CSME – Importance or Hindrance?” Highlighting both the pros and cons as relate to the free movement of people, goods, services and capital within the CSME. The session was a highly engaging one in which representatives of member associations were refreshed on the key aspects of the CSME, while many doubts and fears were addressed.
For more information on this important topic and how it may impact you as a service provider, please see the power point presentation – “The CSME – Importance or Hindrance?”
Essential Record Keeping for Business Success
The guest speaker at this forum was Ms. Cassandra Simon, FCCA, owner of Accounting Solutions and Acting Chairman of the Board of the ABCSI. In an open and interactive session Ms. Simon admonished attendees, many of whom are micro and small business owners, to keep proper records, especially of their finances. Essentially, Ms. Simon’s key message was: – know what you earn, what you spend and how much money is in the bank at any given time. She emphasised that very simple measures can be taken to help persons keep on top of their records. So, if cost is a factor, rather than buying software or hiring an accountant which can be an expensive move, persons simply need a student’s exercise book in which to keep a daily record of monies earned and monies spent on their businesses. This method can be utilized until the business is able to afford more formal solutions. Ms. Simon also spoke to tax filing requirements for both unincorporated and incorporated businesses, such filings being dependent on having sound records, upon which to base returns.
Persons simply need a student’s exercise book in which to keep a daily record of monies earned and monies spent on their businesses