10 motivational tips for aspiring entrepreneurs
Throughout history, times of crisis have been instrumental in the development of new products and services. Where there is a need, an opportunity exists, and eventually, an entrepreneur will recognise it. Lyndy van den Barselaar, Managing Director of ManpowerGroup SA shares that as we enter 2021, entrepreneurship will need... Read more
SAICA urges SMMEs to escalate late payment by government
The COVID-19 pandemic has caused mayhem in the economy and has negatively impacted businesses, particularly SMMEs, with many struggling to remain afloat due to cash flow challenges. Adding to this is the late or non-payment of invoices by the government due to the poor implementation of internal controls to... Read more
Boost for eMaxesibeni with multi-million rand informal hub
One hundred and fifty informal traders in eMaxesibeni (Mount Ayliff) will soon reap the benefits of new trading facilities once new infrastructure valued at R21,3 million is completed. Mlungisi Mvoko made the announcement, the MEC for Economic Development, Environmental Affairs and Tourism in the Eastern Cape in a visit... Read more
SMMEs play major role in economic growth
To accelerate the country’s economic rehabilitation post-COVID-19, there must be a greater drive towards creating more sustainable Small to Medium and Micro Enterprises (SMMEs) says Marcel Strauss, Group Chief Operating Officer at The Franchise Co. “We cannot sit back and hope that the country’s economy will return to pre-recession... Read more
WFH dilemma for companies post COVID
Companies are re-evaluating their business models and operations. The question is: Do they revert back to the traditional office like it was pre-2020, or do they operate a hybrid model? While COVID-19 is set to have a permanent impact on the real estate industry and the office market, exactly... Read more
Province launches R40m programme for informal businesses
The Department of Economic Affairs, Environment and Tourism (DEDEAT) in collaboration with the Eastern Cape Development Corporation (ECDC) launched the Informal Business Support Programme (IBSP), a programme aimed at providing support to the informal business. A budget of R40 million for the 2021/22 financial year has been made available... Read more
Can bidders be disqualified for not having B-BBEE documents?
The BEE Act of 2003 is clear in its instruction that all organs of state must “Take into account and as far as reasonably possible, apply any relevant code of good practice in terms of this Act,” when issuing licenses, concessions, tenders through a Preferential Procurement Policy and when... Read more
Women-led businesses will play a crucial role in South Africa’s economic recover
The outbreak of COVID-19 has disproportionately affected women, leading to what is now being referred to by some as a “shecession.”   This finding – supported by the recent South African Women Entrepreneurs Job Creators Survey – (conducted by network Lionesses of Africa) – has put the spotlight on women-led... Read more
Slight rise in business confidence by SMMEs
After an 8-percentage point decrease in Q4 2020, the business confidence level among small and medium enterprises (SMEs) owners is on the increase again, albeit minor. This is despite various challenges and the difficult economic landscape that SMEs are facing as a result of the COVID-19 pandemic – as... Read more
New report: 72% of businesses seeking business rescue assistance are SMMEs
The Covid-19 Business Rescue Initiative (COBRA) has today launched a new digital Business Rescue Insights Portal. COBRA’s Insights reveal alarming new data that shows South African small, medium and micro enterprises (SMMEs) – the nerve centre of South African commerce – are in distress. According to the data, a... Read more
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