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Not understanding business contract basics can be a costly mistake

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Not understanding business contract basics can be a costly mistake

While many businesses may start small, rapid growth or unforeseen changes to business strategy may see cracks start to appear in what originally seemed a solid business plan. In these instances, without reliable contracts in place, business owners may find themselves in the midst of what may prove a lengthy and ultimately costly legal battle.


While contracts my differ in intent and thereby complexity, there are a few basics that all businesses can take on board in an attempt to side-step the many negative consequences poorly constructed contracts have the potential to bring into play.

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Last modified on Thursday, 15 August 2013 13:16
Alex Philippou

Alex Philippou

Alex Philippou has over 14 years audit experience and was previously with PricewaterhouseCoopers for four years. A Chartered Accountant with a focus on assurance he has served clients such as; Grandmark International, Anglo American Platinum, Natsure Ltd, South African Revenue Group, Integrated Convoy Protection, Pick ‘n Pay, Total SA and Vodacom.

For the past 10 years, he has been with SizweNtsalubaGobodo of which nine of these years have been as Director in the Entrepreneurial Service Division which he currently heads up.


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