A: Many Business owners will be expecting to make exciting profits from the World Cup. However, this is a once-in-a-lifetime event. It is therefore important that businesses use the extra income wisely. Jannie Rossouw of Cobalt Solutions for Business Owners - the division in the Sanlam group which provides financial solutions for entrepreneurs - offers a few suggestions to business owners on making the most of their WC windfall.

• Immediately open a savings account for your business (it could be linked to your business account) and deposit any surplus into this account so it doesn't get chewed up by ordinary expenses


• Use extra funds to benefit of your business by:


• replacing machines and equipment


• refurbishing the façade of premises and reception


• refreshing sign writing on business vehicles


• revising marketing elements (branding, logo's, brochure ware, advertisements)


• redesigning and updating websites


• upskilling employees


• auditing the financial planning elements of the business (short-term insurance, buy-and-sell cover, key person insurance cover, saving to replace redundant equipment and other assets, creating provision for your own retirement and investing to create a diversified asset portfolio)


• Sit down with your financial planner and decide how best to build wealth- personal or for the business- from the extra takings.

There are many other options to consider but, when you decide to spend the surplus, spend it wisely.

For more information, visit www.sanlam.co.za.