The Companies Act 2008 places onerous duties on directors and if you do not meet these obligations, you risk personal liability for any damages flowing from these actions. “Knowing” in the company law context A director gets “knowing” (actual knowledge) of the company by remaining apprised of the conditions of the relevant industry, what is […]
Taxpayers were preparing for once again being squeezed in 2020, but we have been pleasantly surprised as we have been given a myriad of tax concessions in this budget. In fact, the average taxpayer will be over 5% better off than in 2019/2020. The Finance Minister has decided that taxpayers have borne the brunt of austerity […]
The past few years have seen scandals emerging in both the private and public sectors. Steinhoff, State Capture, Eskom, the Guptas and Bosasa, to name a few, have revealed how endemic corruption has become in South Africa. The National Prosecuting Authority (NPA) is now beginning to charge those who have been involved in these scandals. […]
Small and medium-sized enterprises (SMEs) have limited access to capital markets. As SMEs are considered to be the cheapest and most cost-effective sector in creating jobs, the Revenue authorities sought to address this by creating an attractive allowance for Venture Capital Companies (VCC) in 2009. The VCC allowance gave a massive boost to venture capital […]
Recent research by the University of the Western Cape on the rate of failure of small businesses makes for interesting reading and provides insights that we all really need to take on board, particularly in these hard economic times. SMMEs, their importance and their failure rates Globally 60 to 70% of jobs are found in […]
An issue that has been around for a while has been employees misrepresenting their qualifications to their employer. This has adverse consequences for the employer as the employee often proves incapable of doing the required job – this leads to wasted time in disciplinary hearings, dismissal and then a new recruiting cycle begins. That’s in […]
There is some confusion over whether to declare your laptops, golf clubs, iPads and other such valuables that you travel out of the country with. The answer is no you don’t have to declare these items, but you do have to carry with you proof of purchase in South Africa of these goods and show […]
In the USA, $40 billion is lost every year to scammers. When you consider statistics suggesting that 65% of scam victims don’t report their losses (usually they are too embarrassed to admit they have been conned), as much as $120 billion could annually be skimmed from gullible people. Scammers normally target people who are financially […]
The ‘Peter Principle’ has been around for nearly fifty years. Recent research has underlined that it is still valid today. It has implications for how we promote staff and the effects this has on our business. What is it? “Peter Principle, n. – The theory that employees within an organisation will advance to their […]
