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We have launched the COVID-19 Small Business Relief Centre to assist small businesses during this crisis. With the collaboration of experts in various business fields, this centre hopes to help small businesses weather the current coronavirus storm successfully.
A new report by The Small Business Institute (SBI) claims that small businesses continue to be as economically fragile as they were over two decades ago, with some 70% of South Africa’s emerging small businesses failing within their first two years. While 98.5% of the country’s economy is made up of small and medium-sized enterprises (SMEs), they’re only delivering 28% of all jobs.
Small business owners who want to keep abreast of technological disruptions should make the move to cloud accounting. Not only will they save money and office space, they will be able to turn spare moments into productive minutes. Cloud accounting is ideal for small businesses, because it allows business owners to work from anywhere, at any time, as long as they have an internet connection.
Where is the focus on growing South Africa’s small business sector? That is the overriding question we are left with at the end of Finance Minister Tito Mboweni’s maiden budget speech. The few mentions the Minister made about Small & Medium Businesses were short on detail at a time when we desperately need to supercharge the growth of this segment.
EasyBiz QuickBooks, the authorised South African partner of global accounting software leaders, Intuit QuickBooks, is rebranding to align its identity with its vision for the future – providing the latest in technology and innovation to South African customers, partners and accountants.
In today’s digitally powered business ecosystem, data has become the lifeblood of every forward-thinking, successful enterprise. More specifically, data analytics (the key information gleaned from volumes of data) is now the primary weaponry that enables business leaders to outsmart their competition. And in such a highly disruptive, cutthroat business sphere, every bit of smart weaponry counts!
The financial management decisions of an entrepreneur will have a direct impact on the efficiency, processes and resource management of the business. This holds true regardless of whether they take on mundane cash-flow tasks themselves, hire high-priced professional financial managers or opt to utilise online software tools.