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The role of the property manager continues to evolve. Once thought of as 'merely' rent collectors, it became all too evident that the role of a good property manager had progressed to encompass that of asset management. Now, with the effects of COVID-19 being keenly felt by businesses the world over, the role of the property manager has evolved once more to now include mediation as a key skill.
Despite a legal requirement that invoices and claims be paid within 30 days or within the period contractually agreed upon, a Public Service Commission (PSC) report has revealed that South African small, medium and micro enterprises (SMMEs) are owed billions in unpaid invoices by government departments.
The current COVID-19 pandemic, and the lockdown implemented by the South African government, has had a significantly negative impact on businesses. Some have only recently been able to commence operations with the start of the current alert level 1 status.
Amid the devastation caused by the COVID-19 pandemic on businesses, and in particular small businesses, bankruptcies have soared. If you were to do an analysis of why many small businesses go under, you are likely to find that a significant number end in financial ruin by making the same or similar mistakes.
It’s common cause that too many South Africans struggle with debt. National Credit Regulator data shows that 40% of the 25 million active credit users are behind on their payments. That proportion has probably become worse since April 2020 because the data was released before the COVID-19 crisis.
COVID-19 cannot take all the blame for the disruptions taking place in the global economy. The pandemic and resultant lockdown simply provided a conduit for highlighting the failings across industries in South Africa, whether that is healthcare, public transport, education, or others.
In March 2020, President Cyril Ramaphosa announced a 21-day ‘hard’ lockdown, later to be known as a level 5 lockdown. It certainly caused flutter in the financial markets, forcing almost the entire economy to cease operations and people to be confined to their places of residence.
An interview with Kevin Black, Director, VAT Claims International, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how COVID-19 and the lockdown has severely impacted business cash flows. Surviving the shock is challenging the resilience of enterprises and executives.
South Africa’s telecommunications (telcos) companies need to rapidly evolve by adding additional services for a new mobile working and learning world in order to stay relevant and profitable. Their legacy business model of telcos which has long sold data and SMS packages to consumers, is no longer enough on its own - a fact that has been brought into stark relief throughout the lockdown period.
The commercial real estate industry has welcomed a positive upturn since level 3 of lockdown. One particular sector that is making waves and has seen a noticeable spike in activity over this period is undoubtedly industrial real estate. This uptake can be attributed to the both the stringent hygiene measures now required in the workplace and the changing nature of retail.
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