Running a profitable business does not mean you have cash. That statement causes confusion in boardrooms and pressure in small businesses across South Africa. Statistics South Africa continues to report high failure rates among small and medium enterprises, with a significant percentage closing within the first three years. In practice, most do not fail because they are unprofitable. They fail because they run out of cash. There is a fundamental distinction between profit a

The lowering of the Reserve Bank’s inflation target to 3% has had a significant impact that is flying under the radar – it is making the rand more stable.   This is crucial for sustained economic growth in the future, as a more stable rand removes currency risk for foreign investors investing in South Africa.   As a result, the hurdle for investment is lowered, and more funds can flow into the country, boosting its economic growth and employment.   Efficient Group chief econo

SARS is currently trying to recover almost R489 billion in unpaid, undisputed tax debt . While they have already collected over R62 billion  this financial year, there is still a large shortfall. This means one thing for businesses: SARS is stepping up enforcement and collections .   Why this matters for small businesses A large portion of the outstanding tax debt relates to VAT . Business owners and directors should be aware that SARS can, in certain cases, hold individuals