How FATF ‘greylisting’ will impact SA business

SA companies will need to respond quickly to mitigate the risks stemming from this development. Global money laundering and terrorist financing watchdog, the Financial Action Task Force (FATF), has placed South Africa on its so-called ‘grey’ list, adding South Africa to a group of jurisdictions under increased FATF monitoring and meaning that the country has […]

Who is held responsible for payments lost due to cybercrime?

This is exactly what happened in Fourie v Van der Spuy and De Jongh Inc. and others. The First Respondent was a law firm and the Second and Third Respondents were practising Attorneys. The Applicant claimed payment of R1 744 599.45 from the Respondents. The First Respondent had a mandate to deal with money paid […]

Is the alcohol ban doing what it is supposed to?

One of the major points of concern amid the national battle against COVID-19 has been the infamous alcohol ban. For the establishments that serve and sell alcohol, to the breweries and wineries whose production became redundant, to the South Africans who could no longer enjoy a beer or glass of wine with their meals, the effect of the ban has been […]

What options do businesses have when facing financial crisis?

South Africa has been experiencing very slow economic growth and international rating agencies have subsequently downgraded South Africa’s investment outlook to “junk status”. This, and a myriad of other factors, have negatively impacted South African businesses, especially small and medium business enterprises. Many of these struggling enterprises are now at a crossroads: do they continue […]

Possible insurance relief for struggling businesses due to lockdown

A business interruption insurance policy typically caters for a decrease in turnover or profit (depending on the type of cover); an increase in operating expenses and a move to a temporary location (if necessary). The question arises whether or not COVID-19 qualifies as an insured event which could lead to a valid and enforceable insurance […]

Transferring business power

The desire of being an entrepreneur naturally comes with you wanting your business to be successful and remain that way. When transferring business power through succession from your generation to the next poses some risk but it can be successful if done properly. Creating a successful succession allows a business to continuously thrive despite who […]

How to ensure that your supply chain runs smoothly

Supply chain management is the flow that businesses follow when planning, creating and executing their product. This begins at obtaining the product’s raw materials and carrying it through to production, and finally, product distribution to the final customer: Obtaining raw materials The supplier receives these raw materials Product is manufactured The finished product is distributed The retailer receives the final […]

Valuation methods

A business valuation is a process whereby a value is placed on a business or a business unit, based on the historical and projected financial performance of the business.  It is critical, as a shareholder or business owner, to know what your business is worth in order to make sound business decisions and maintain ongoing business strategy. These decisions can include evaluating or negotiating a possible sale of the […]