Dealing with debt in your Business

Dealing with debt in your business As the majority of businesses return to normal operations, many will return to face a burden of accumulated debt as a result of restricted trading. The latest studies have confirmed the impact of COVID-19 resulting in a devastating debt burden for South Africans. The debt holiday offered by the banks in late March 2020 had added R20.7 billion to the debt of the estimate 1.6 million South Africans who took advantage of this. Credit bureau TransUnion reported that by August, 21% of those surveyed reported losing their jobs as a result of the pandemic; and [...]

Dealing with debt in your Business2020-08-24T14:28:55+02:00

Revisiting your Budget in uncertain times

Revisiting your Budget in uncertain times 2020 thus far has certainly proved a year filled with some unexpected turns and tribulations. For most businesses the far-reaching effects of the COVID-19 pandemic has had a severely adverse impact on their financial wellbeing. Whatever budgets and cashflow projections were done pre COVID will have to be updated and adjusted, but with so much uncertainty still about where do we start? First step is to pull out the latest budgets and cashflow projections and to assess how far we have veered off course. Remember that your budget needs to account for fixed and variable [...]

Revisiting your Budget in uncertain times2020-07-21T10:41:44+02:00