Tag: late payment

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.

If you have taken out a loan or a store account, or have a credit card or a home loan, you have a credit record. A great way is to put your finances in order, especially after the costly generosity of the festive silly season – not to mention Black Friday. 

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 Office of the Pension Funds Adjudicator (OPFA) is a statutory body established to resolve disputes in a procedurally fair, economical and expeditious manner. The adjudicator's office investigates and determines complaints of abuse of power, maladministration, disputes of fact or law and employer dereliction of duty in respect of pension funds.

Creating awareness around financial saving is important for businesses, and cash flow management is critical for survival.

South Africa is limp wristed from unclear definitions and objectives that are used at different moments to drive ambiguous agendas. South Africa lacks a clear definition for transformation, and thus every other organ of change abdicates their role in shaping the country in a progressive direction.

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.