Business Climate – Uncharted Territory The Business Confidence Index (BCI) of SACCI decreased by 2.8 index points in March 2020 to 89.9 following on an uptick of 0.5 index points in February 2020. The BCI of March 2020 was 1.9 index points lower than the 91.8 of March 2019. The March decline is the sharpest month-on-month decrease…
The disruption brought on by the Coronavirus Disease 2019 (COVID-19) has left many small-and-medium enterprises (SMEs) across the world uncertain about their future. It is against this backdrop that President Ramaphosa’s announcement of R1 billion funding from the Rupert Family and Remgro Limited resulted in cautious hope amongst many SMEs across the country. Business Partners…
Please see attached our comprehensive summary of COVID-19 relief and support options provided by Government, Statute, Public-Private Partnerships, Banking/Insurance industries, and the Private Sector as at 5 April 2020. We have taken a multi-disciplinary approach to providing you with some clarity in this complex and fast evolving focus area. You can read and download the document…
BY Ivan Israelstam, Chief Executive of Labour Law Management Consulting. He may be contacted on (011) 888-7944 or 0828522973 or on e-mail address: [email protected]. Web Address: www.labourlawadvice.co.za. Once the Corona virus has passed, South Africa’s badly weakened economy will offer even fewer jobs than it did in the pre-Corona era. The resulting heavy competition for…
The MultiChoice Innovation Fund is an enterprise development fund which is aimed at empowering qualifying small-medium enterprises in the Information and Communications Technology industry. Since inception, the fund has invested in over 25 black-owned businesses, investing well over R180 million. Through the Innovation Fund, the MultiChoice Group aims to reinforce its commitment to uplifting and…
Stakeholder Update Seda gears up to respond to COVID-19 As Government’s primary agency for small business support, Seda is mobilising all its resources and working with key stakeholders at national, provincial and local level to facilitate access to Government and private sector programmes, initiatives and financial relief. During this time, Seda will prioritise assistance to…
The Symphonia Leadership Development Team invites you to join us for this inspiring, Free Webinar with Dr Louise van Rhyn on the importance of self-care. “Sometimes we give so much that we end up losing ourselves.” Own Mask First with Dr Louise van Rhyn A webinar for female leaders who are feeling the pressure of the current…
SAVCA members are pledging pro-bono services to support small, medium and micro-enterprises (SMMEs) whose businesses have been impacted by the COVID-19 crisis and lockdown. Assistance has been earmarked in the form of access to experts and professionals. Click here to request assistance from a SAVCA member
National Treasury has published new Regulations on 3 April 2020 concerning the PFMA provisions during the Lockdown. I have drafted a high-level 1 page summary to simplify its intend and impact for you. This I did with a view to not interrupt your busy schedules. I also attach the Annexure List to the Regulations. Happy…
The Small Enterprise Development Agency would like to assess the impact of COVID-19 on your small business. This will assist Seda and its partners to enhance support measures and turnaround strategies for small enterprises during COVID-19 and beyond. This is to gauge your business challenges and needs. Please complete this COVID-19 recovery plan survey: https://forms.gle/6A39tyaqyzGtTnkq9
National Treasury has recently published the attached COVID-19 Draft Tax Bills for public comment. The Bills are: The Draft Disaster Management Tax Relief Bill; and The 2020 Draft Disaster Management Tax Relief Administration Bill. BUSA, through Business for South Africa, will be submitting comments on the draft Bills. Please provide comments (for incorporation into a…
In an effort to meet the anticipated demand for critical medical equipment such as ventilators, the DTIC is inviting companies and experts to submit their proposals in respect of the design, development, production and procurement of ventilators in South Africa. The CFP is for a non-invasive pre-intubation ventilator solution that a clinical team has determined…
Media StatementFor Immediate ReleaseTuesday, 31 March 2020 SCAM ALERT! MINISTER NTSHAVHENI WARNS AGAINST FRADULENT WEBSITESSOLICITING INFORMATION FROM SMME UNDER THE PRETEXT OF PROVISION OF SUPPORT The Department of Small Business Development (DSBD) has recently learned of a company named RR Creations Solutions that issued a statement offering an opportunity to SMMEs in the Essential Goods…
Please find attached hereto the recently updated amendments made to the COVID-19 Lockdown Regulations as issued by the Department of Cooperative Governance and Traditional Affairs. Download the Amendments Read the Amendments below:If you don’t see the document, please try reloading the page [F5]
(Via SACCI) On 26 March 2020, the Department of Transport issued out a directive that detailed measures that were to be undertaken to prevent and combat the spread of COVID-19. Please find attached hereto the regulations as well as their amendments as issued by the Department of Transport on 31 March 2020. Download the Regulations…
The Unemployment Insurance Fund and the Department of Employment and Labour have launched the new Covid-19 temporary employee relief scheme, which will provide funds to distressed companies unable to pay the full salaries of workers they permanently laid off or sent home temporarily due to Covid-19 and the shutdown. From April, the government is bracing…
The South African Future Trust (SAFT), established by Nicky and Jonathan Oppenheimer, will make funds available to South African businesses impacted by the coronavirus from 3 April 2020. Nedbank said that it will help facilitate the distribution of loans to small businesses on behalf of SAFT. “The main aim of the SAFT is to mitigate…
FREE WEBINAR SPONSORED BY ABSA The Effects of Covid-19 on South African SME’s 1st April 2020 – 12h00 About the Webinar In this webinar, Daily Maverick journalist, Ray Mahlaka will be in conversation with the CEO of Small Business Institute, John Dludlu and Absa’s Deputy CEO for Retail and Business Bank, Bongiwe Gangeni to discuss the various effects that the spread of…
The disruption brought on by the Coronavirus Disease 2019 (COVID-19) has left many small-and-medium enterprises (SMEs) across the world uncertain about their future. Couple this with a low growth environment, South Africa entering a technical recession, and the country’s ratings downgrade to sub-investment grade by Moody’s on Friday, local SMEs have been dealt a particularly…
Call for Expression of Interest Provision of Business Services to SMME’s and Cooperatives: Business Mentorship, Consulting, Post-Business Support and Coaching Submission Deadline: Tuesday, 21 April 2020 In line with the Government mandate of providing seamless and streamlined services to Small, Medium and Micro Enterprises (SMMEs) and Cooperatives, the Small Enterprise Development Agency (Seda) and Small…
COVID-19 SMME INTERVENTION MEASURES SMME RELIEF FINANCE SCHEME This facility is a Soft Loan Facility, aimed at assisting existing businesses in order to keep them afloat during the COVID-19 pandemic for a period of 6 months, from April 2020. BUSINESS GROWTH AND RESILIENCE FACILITY This facility will fund SMMEs who Produce or Supply health care…
It is understandable that business owners feel panicky because of the toll Corona is taking on business income. However, many businesses realise that if they implement wholesale retrenchments they will not only lose valuable skills but will also reduce the buying power of the public. This would then further reduce the business’s ability to earn…
Paris, March 27, 2020 — Moody’s Investors Service, (“Moody’s”) has today downgraded the Government of South Africa’s long-term foreign-currency and local-currency issuer ratings to Ba1 from Baa3. The outlook remains negative. The key driver behind the rating downgrade to Ba1 is the continuing deterioration in fiscal strength and structurally very weak growth, which Moody’s does…
The Department of Small Business Development has introduced relief mechanisms for SMME’s impacted negatively by the COVID-19 Pandemic. Below please find mechanisms, criteria and processes to be completed: SMME Debt Finance Relief SMME Business Growth Resilience Facility