Tag: cash flow management

In response to an increasingly volatile economic landscape, South African businesses are turning to trade credit insurance. They use it as a strategic tool to safeguard their operations against the risks of non-payment and insolvency. This surge in uptake of trade credit insurance reflects a growing recognition of its critical role.

As the nation waits for the rescheduled delivery of the Budget Speech on 12 March, many wonder what tax announcements to expect. The delayed budget and VAT hike mean small business owners, in particular, remain on tenterhooks as they anticipate the rate hike. This increase would see the VAT rate rise from 15% to 17%, which could significantly impact businesses.

Real-time financial insights have become crucial to both big and small businesses. Advancements in accounting software technology provide up-to-the-minute information. This innovation offers enhanced decision-making, better cash flow management, and greater financial accuracy.

COVID-19 came with its own challenges for businesses, requiring companies to pivot and adapt to new ways of working and changed the working environment completely. Small auditing firms were not spared from this, they needed to quickly adapt and fully equip their employees with resources to ensure that they continue to operate and serve their client’s needs.

Cash flow management is a critical aspect of running a successful small or medium-sized business. For many South African businesses, ensuring that there is always enough money for payroll and salaries can be a daunting challenge.

In 2021, the global procurement as a service market was valued at approximately US$ 6.3 billion. Given that the market has a projected compound annual growth rate of 7% for the next 10 years, experts forecast that the market is likely to reach a valuation of US$13.3 billion by the end of 2032.

Several advantages make owning commercial or business property a viable prospect for small businesses. These include the benefit of asset appreciation, enjoying full control over interior design and renovations, security of tenure and avoiding above-inflation rent hikes.

The fifth annual State of South Africa Small Business report 2022 found that 95% of business owners have experienced stress in running their businesses. Undoubtedly every late payment, supply chain issue, and government decision over the past two years has placed additional stress on the owners of small businesses.

The lack of access to finance is one of the main reasons small and medium enterprises (SMEs) fail worldwide. While start-up capital is crucial, access to funding in running a business is critical too. In the best of times, access to finance is vital to scale and take advantage of opportunities.

We have announced new research into the CFO 4.0, which reveals that the manufacturing CFO will play a critical strategic, innovative and financial role in the business moving forward.  The study, which was conducted in July to September 2021 and assessed the sentiment amongst senior level Chief Financial Officers within manufacturing sectors across the Americas, APAC and EMEA.