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 […]
“All employers should allow their employees to work from home unless it is absolutely necessary for them to perform work on-site” was among the government’s directives issued on 28 June, when South Africa was placed under an adjusted Alert Level 4 lockdown in response to the third wave of Covid-19 infections in the country. While […]
Background to the emergency tax relief measures On 25 July 2021, President Ramaphosa announced emergency tax measures. This was in response to the continuing COVID-19 pandemic and recent unrest in the country that resulted in the destruction of businesses. Further details of the proposed measures were provided by the Minister of Finance and National Treasury […]
As South Africa responds to President Cyril Ramaphosa’s recent call to “accelerate the implementation of our Economic Reconstruction and Recovery Plan to rebuild our economy”, the DTIC has allocated R150 million for the National Empowerment Fund (NEF) to establish the Black Business Manufacturing Fund (BBMF) to support black entrepreneurs in manufacturing various products locally across […]
