Standard Bank unveils 90 day payment holiday for small businesses to soften coronavirus impact

| by | All Articles | 0 comments:

Standard Bank has announced a 90 day loan repayment holiday for South Africa small and medium-sized businesses in a bid to soften the economic impact of the coronavirus. According to the bank’s website, the Coronavirus Business Interruption Payment Scheme offers “payment relief to our small enterprise customers, as a preventative measure to shield them from the economic impact of the COVID-19 outbreak”. Notably, the scheme will automatically defer payments of certain small and medium-sized businesses. Businesses that do not want to have payments rescheduled can opt out. The initiative is set to launch on April 1 and will defer payments … Continued

Even without a case, Africa may be a big victim of coronavirus

| by | All Articles | 0 comments:

Even without a single confirmed case, sub-Saharan Africa may be the region hardest hit outside of Asia by the spread of the coronavirus. The outbreak has shut down entire swathes of the Chinese economy, threatening world economic growth and curbing appetite for oil and metals that are the lifeline of many African nations. A slowdown in the No. 2 economy and a 5% drop in oil prices over one year could mean $4 billion in lost export revenue for sub-Saharan Africa, or the equivalent to 0.3% of its gross domestic product — more than any other continent outside of Asia, … Continued

SA small business secures cracker supply deal with Walmart

| by | All Articles | 0 comments:

Landmark agreement signed this week will see innovative Christmas cracker maker gain access to lucrative US market. – Suren Naidoo Glenart – a family-owned Christmas cracker manufacturing business based near Ballito on the KZN North Coast, has become the first South African company to secure a lucrative supplier deal with US global retail giant Walmart. Speaking exclusively to Moneyweb Sean Reber, Walmart’s Global Sourcing Senior Director, revealed that the group this week signed a supply deal with Glenart. Reber is in the country with a Walmart contingent from the US, China and Japan visiting several potential local suppliers that are … Continued

5 ways to prevent a poor credit score from tripping up your business

| by | All Articles | 0 comments:

5 ways to prevent a poor credit score from tripping up your business By Carin Smith A poor credit score is one of the top reasons why entrepreneurs get turned down for business loans, according to Garnet Jensen, a senior director at TransUnion Africa. When it comes to getting loans to grow the business, small businesses often find financing hard to come by and credit scores play a key role. “Part of the problem is that in South Africa, lenders often rely on the personal credit records of the owners to assess their risk of lending. This is even though … Continued

The rand hits new levels of volatility

| by | All Articles | 0 comments:

The rand is back as the world’s most volatile major currency, and options pricing suggests it’s not going to lose that status any time soon. A gauge of expected swings over the next six months, based on prices of options to buy and sell the rand, has jumped 175 basis points since the beginning of August to 16.1% on Thursday. Historical volatility climbed 61 basis points to 13.8%, the highest among 16 major developed-nation and emerging-market currencies tracked by Bloomberg. That took the spread of implied over realised volatility to the most in almost a year, as traders hedge against … Continued

These are the biggest fast food franchises in South Africa.

| by | All Articles | 0 comments:

Famous Brands has published its integrated annual report for 2019, showing significant growth in the number of restaurants across some of its most popular brands. Fast food franchising has been a very successful industry over the last few years, with a number of international brands entering into the South African market and rapid expansion among local brands. However, a low growth economy, high levels of unemployment and infrastructure issues including load shedding have put immense pressure on consumers and businesses alike, leading to a rocky year for most franchise owners. According to Famous Brands, its 2019 financial year has been characterised by … Continued

10 tips for millennial entrepreneurs

| by | All Articles | 0 comments:

When asking millennials about where they see themselves career-wise, many will reveal their dream of owning their own businesses. According to Deloitte’s 2019 Global Millennial Survey, 58% of South African young adults say they want more than working for someone else’s company. They want their own business. The question is: what does it take to be, and remain a successful entrepreneur in the struggling local economy and a global economy that is moving lightning-fast and becoming more competitive by the day? Karl Westvig, CEO of Retail Capital, that provides access to alternative business funding and working capital for small companies, … Continued

IT crucial in fight against money laundering

| by | All Articles | 0 comments:

The highly publicised debacle of Angelo Agrizzi and six others, who were recently charged with money-laundering and fraud, has brought these issues into the spotlight in South Africa. The reality is that money laundering is a significant problem. The role of IT is crucial in the fight, and financial institutions need to step up their efforts and be more aggressive in their approach to combat the threat. For instance, when money laundering is committed, the fraudsters often try and conceal the source of the funds intended to finance the terrorist or unlawful activity. However, by applying international best practices and … Continued

What exactly is the right path to start-up success?

| by | All Articles | 0 comments:

What exactly is the right path to start-up success? Avoid mistakes other entrepreneurs have made and speed up your path to success. Being an entrepreneur is really hard work. Get rich quick schemes don’t work. There are, however, ways you can avoid making the same mistakes others have — and there are ways you can speed up the path to success. But you cannot get around the fact that it takes hard work and sacrifices. Lots of hard work and lots of sacrifices in fact. So, here are some of the key mistakes that we see when working with businesses and … Continued

South Africans may soon be able to pay bills through WhatsApp

| by | All Articles | 0 comments:

South African consumers may soon be able to pay bills, make online purchases and receive flight booking passes through WhatsApp, says Desmond Kurz, marketing director at Clickatell. WhatsApp recently released code which made paying bills and making online purchases via the social media platform possible. Clickatell is one of a few global service providers who has gained early access to WhatsApp’s business code. The company was founded in South Africa in 2000, and has since moved its head office to California. It recently partnered with Absa to launch South Africa’s first WhatsApp banking platform, ChatBanking. “Customers naturally gravitate towards businesses … Continued

1 2 3 4 5