I’ve been in business for 37 years and 23 of them in my own Fiduciary Practice. I’ve lived through 4 financial crises when everyone thought “that’s it, it’s over.” But actually – it was the springboard to even greater heights!

I’m aware that these are very scary times for business owners and employees alike. I’ve gathered as much info as possible regarding relief measures that are currently in place – and put together an info sheet with website links and other info, plus suggestions that may be of assistance to you.

Please do not feel that you are alone at this time, as there is a well spring of knowledge and support within our organization. If anyone would like to engage privately with me for analysis or mentoring, please feel free to contact me.

Warm regards to you and your loved ones
#besafe #stayathome #flattenthecurve

SHARON EMMERICH

Current COVID-19 Relief Measures (Please be aware that various Qualifying Criteria may apply.)

All info below is to the best of my knowledge and belief, true and correct.

https://www.bowmanslaw.com/insights/tax/covid-19-disaster-management-tax-relief/ 

UIF:
Employers to apply via website

PAYE:
SARS offering vast relief to Employers and Employees

Deferral of Provisional Tax
https://www.moneyweb.co.za/mymoney/moneyweb-tax/deferment-of-provisional-and-interim-tax-payments/

SMME Business Relief:
https://smmesa.gov.za

Hospitality Industry
https://www.tourismreleif.gov.za

Debt Relief:
• Business Growth Resilience Finance Relief;
• SA Future Trust – Oppenheimer Foundation – interest-free Loans;
• Banks offering payment holidays

Other:
• Sukuma Relief Programme – Rupert Family Foundation ;
• Workers Compensation – for Employees with Coronavirus Diagnosis and absence from work;
• Landlords offering Rental Relief.

Employees working from home
https://www.moneyweb.co.za/mymoney/moneyweb-tax/working-from-home-employees-get-little-tax-relief/

What to do if you get retrenched:
https://www.moneyweb.co.za/financial-advisor-views/what-to-do-if-you-get-retrenched/

NB Check the terms of Credit Life insurance often attached to Store Cards, Credit Cards and Bonds – possible payouts.

Tax Relief on Donations:
Sections 18(A) tax certificates issued for any donations to the Solidarity Fund and other registered PBOs.

Some Other Vital Tips:

Everything has changed – virtually overnight!

Don’t make changes as a result of knee jerk responses – which are often made out of FEAR – rather make considered changes that will ensure you :
• Survive the Lockdown,
• Recover back Lost Ground, Pipeline Business and Cashflow
• Re-establish your Business, then once again Thrive!

1. Use the Lockdown to analyse your Current Business Modus Operandi –
what worked before may not work now.

2. Draft a Change Management Plan – Mentors/ Coaches to assist with this?

3. Be very clear on
• Immediate Changes to be made (e.g. Tech upgrade)
• Recovery Changes (e.g. Renegotiate when contracts are due for renewal)
• Long Term – (e.g. upgrade Staff Skills)

4. Redraft your Business Plan.

5. Engage with Personal and Business Bankers. Your Bank wants you to survive!

6. Engage with Services and Suppliers – renegotiate terms – pay something rather than nothing.

7. Engage with Financial Planner.

8. Review your Estate Planning to see that all is in order.

Finally, if you want to connect with me, please fill in your details in the below form which will be sent via email to me.