Tag: funding

Small and medium enterprises (SMEs) in South Africa continue to face a business landscape that is simultaneously full of challenges and brimming with opportunities. A still-struggling economy, rising costs, high unemployment figures and an uncertain political future have created a business backdrop against which only the most resilient and innovative businesses will thrive.

President Ramaphosa has promulgated the National Health Insurance (NHI) Act. The NHI, in its bill form, has been controversial since its introduction and has attracted significant critique from various stakeholders. It is therefore likely that the Act will be the subject of fierce litigation, sooner or later.

In the wake of COVID-19 and the accelerated digitisation of financial services, the gap between South Africans who have highly developed financial literacy and those with little or none has not just widened – it has taken on new dimensions.  The consequences for South African society are dire.

Age is just a number when it comes to entrepreneurship, and older business owners (60+) have a wealth of experience, knowledge, and ambition to offer. However, when traditional banks deny funding based on outdated lending criteria, these seasoned entrepreneurs can feel frustrated and stuck.

For most South African businesses, the skills development component of the Broad-Based Black Economic Empowerment (B-BBEE) scorecard is one of the most challenging and costly elements to deliver on. However, by strategically combining employed and unemployed learnerships, businesses can secure the most points for the least money spent, while achieving the best return on their training and skills development investment.

Mitigating the increasing effects of climate change has become a top priority for South African insurers who have collectively paid billions of Rands in related damages over the past five to 10 years. The increasing frequency and severity of severe weather events – such as heavy rainfall and resultant flooding – threatens the sustainability of insurers who must protect the integrity of their balance sheets to continue paying claims for years to come.

Strategic business planning in South Africa needs a forward-thinking approach so when it comes to cultivating a skilled workforce, there is one action that repeatedly delivers - the inclusion of learnerships into Workplace Skills Programmes (WSP) and Annual Training Reports (ATR).

The fourth edition of our report on cross-border tax in Africa explores shifting trends in transfer pricing (TP) – many related to broader taxation themes – and considers what these may mean for multinational entities (MNEs) and revenue authorities.

From 1 March 2024, latecomers to the Consumer Goods and Services Ombud scheme will face a five per cent increase on the late joiner’s fee imposed by the Board in March 2022. The fee is based on a percentage of the annual participation fee, which in turn is based on turnover (see table below).

In the dynamic and competitive world of business, staying financially fit is crucial for the long-term success and sustainability of any business. One aspect of maintaining financial fitness is having your business affairs in impeccable order. This entails meticulously managing your company's financial records, compliance, and transparency.