Small business COVID-19 survival guide; Some ideas to help your business survive the lockdown & COVID-19 pandemic
We are in uncertain and difficult times. No one really knows what the future holds. Could it be that more and more businesses will move online after the pandemic? Is working from home finally going to be accepted on the South African market?
We do not have all the answers. But, we can only hope for the best or remodel our businesses to suit the current and possible future.
Broadly, the tax relief measures were as follows: 1. The introduction of a tax subsidy to employers of up to R500 per month for the next four months for those private-sector employees earning below R6,500 under the Employment Tax Incentive. This will help over 4 million workers; 2. The South African Revenue Service to accelerate the payment […]
As of today, South Africa reported that confirmed cases of Coronavirus have risen sharply over the last few days. As a result, tonight, 23 March 2020, the president announced further measures aimed at containing and managing the spread of the deadly virus. From midnight 26 March until midnight 16 April, the country will be under […]
Coronavirus has taken over the world and the number of infections and deaths are increasing by the day. Some businesses have been affected too, from staff working from home to complete shutdown or a shift in working hours. Ramaphosa is set to announce measure his government are likely to implement to help businesses. But while […]
Most of us understand the traditional concept of hunting and farming. It says one cannot eat what they did not kill or plant. But, if one does not hunt or plant, then they would have to borrow from those that did. And if they are to borrow from a skilled hunter/farmer, they might even pay […]
Many companies hesitate to upgrade or change their Accounts Receivable System simply because they feel they can continue to achieve the same results using the same systems and processes as they did five years ago. If you are a smaller company just looking to send a few automated dunning letters and have your AR team […]
In our previous article, “Why do small businesses fail,” we found out that the majority of businesses fail with the first 24 months of being set up. Research also shows that between 70% and 80% of small businesses fail within the first 5 years. Of the businesses that fail, about 82% fail due to poor […]
What is overtrading: Overtrading is not something to take lightly as it can lead to business failure. Overtrading is when you conduct more business than can be supported by your business’ working capital. This often leads to cash flow problems, which may put the business at a high risk of insolvency. Overtrading happens when there […]
Are you planning to buy a home, whether as a primary residency or as an investment? Buying a house can be an expensive investment. Often than not, one will need finance assistance to make the dream of buying a house a reality. This is because buying a house out of your own money is nearly […]