South Africa is already a cash-heavy economy as it is and this reliance on cash is financially and socially costly for the economy. This cost alone is estimated at approximately R88 billion per year. This number is calculated by the Payments Association of South Africa (PASA) and is derived from consolidating the costs to consumers, […]
07 September – Monthly Pay-As-You-Earn (PAYE) submissions and payments 23 September – Value-Added Tax (VAT) manual submissions and payments 29 September – Excise Duty payments 30 September – Corporate Income Tax (CIT) Provisional Tax payments where applicable 30 September – End of the 2nd Financial Quarter 30 September – Personal Income Tax (PIT) top-up Provisional […]
To be a good leader in the small business environment a person needs to possess a variety of skills, understand themselves and recognise areas where there is room for improvement. The leader’s abilities will be the main driver for growing the business. An effective leader is required to not only guide a company from a […]
Initiating, setting up and launching a new, typically, small business is a challenge and can be a lonely journey to growth and, hopefully, success. Could developing a partnership or co-operative with like businesses be a pathway to growth and profitability? How do you describe your business? Truly understanding how to properly describe what your business […]
Microinsurance refers to an area of cover made accessible to low-income individuals and businesses at relatively low cost. Within the South African context, they originally dealt heavily with funeral insurance. Since 1 July 2018, in terms of the Insurance Act of 2017, microinsurers were allowed to offer additional product offerings. The Insurance Act introduced a […]
Battered by national lockdowns of varying intensity since March last year, many businesses have been further affected by weeks of looting and riots in July. These cost 330 South Africans their lives, while our country lost about R50 billion in output, with an estimated 50,000 informal traders and 40,000 businesses affected, placing 150,000 jobs at […]
7 August – Monthly Pay-As-You-Earn (PAYE) submissions and payments 25 August – Value-Added Tax (VAT) manual submissions and payments 30 August – Corporate Income Tax (CIT) Provisional Tax Payments, where applicable 30 August – Excise Duty Payments 30 August – Personal Income Tax (PIT) Provisional Tax Payments
Earlier this year, SARS and the NPA (National Prosecuting Authority of South Africa) announced that they are joining up to deal with tax non-compliance, initially focussing on employers. Employers under intensified scrutiny While this enhanced collaboration covers a number of aspects, the immediate focus will be non-compliance by employers, who deduct employee taxes and levies, […]
According to South African Reserve Bank data, the low level of small business financing appears to be emanating from the demand side as “the vast majority of SMEs indicate that they do not borrow from financial institutions, particularly banks”. Statistics SA’s Annual Financial Statistics (AFS) recorded that “Industries in the South African formal business sector, and included in […]
Healthy cash flow is what keeps a company afloat. The ability to pay suppliers and staff, without risking the future of the business, entirely independently of expected new payments, is vital for any enterprise to keep going. In this era of regular redundancies and corporate collapses, managing your cash flow is the most important aspect […]
