Cashflow management is a critical aspect of running a successful small or medium-sized business.
For many South African businesses, ensuring that there is always enough money for payroll and salaries can be a daunting challenge.
Money Matters
Welcome to the world of payment stream compliance within South Africa's National Payment System. In this article, we will embark on a journey through the landscape of mandate requirements for various payment streams. By understanding the nuances of mandate compliance, businesses can confidently navigate this regulatory terrain while upholding professionalism and adherence to the regulations.
In a world where technology continues to advance and shape the way we conduct transactions, the role of cash, as the backbone of the economy, is undergoing a significant transformation. The global shift towards alternative payment methods, such as card payments, has gained momentum, challenging the traditional reliance on physical currency.
However, in South Africa, cash still holds a prominent place in the transaction landscape. Although the movement towards electronic payments is apparent, many businesses continue to rely heavily on cash transactions. Yet, with the ever-increasing emphasis on cash replacement and the South African Reserve Bank's unwavering commitment to this goal, the need for change becomes imperative.
Debunking myths and embracing solutions
As inflation and the cost of living continue to rise, a growing number of households in South Africa are struggling to meet their financial obligations. In many instances, despite various avenues available to the consumer to seek assistance, households avoid it, leaving debt to spiral out of control.
Marius Jonker, CEO of the Association of Debt Recovery Agents, and Steven Maier, Chief Brand Officer for Amplifin, share their insights into debunking myths about arrear consumer debt and its causes, stakeholders, impacts and solutions.
Since 2020, we’ve featured several online stores as case studies on our website that demonstrate the resilience and determination of South African entrepreneurs and business visionaries during the COVID-19 pandemic. Each and every one of them overcame hardship and uncertainty to create something magical – successful online businesses they could proudly call their own.
Contributor: Tatiana Rall (Marketing and Communications Coordinator) and Steven Maier (Chief Brand Officer) from Amplifin
The National Payment System (NPS) is the backbone of the South African economy, allowing for the smooth circulation of money within the country. However, for this system to remain sustainable, secure, and efficient whilst also protecting consumers from fraudulent activities, it requires effective regulation.
The NPS encompasses the entirety of the payment process. This includes all systems, mechanisms, institutions, agreements, procedures, rules, and laws involved in the processing of payment instructions until the transaction is fully settled between banks.
The gender pay gap is a persistent problem in South Africa, with women earning on average 23% less than men. This gap is even wider for women in certain industries, such as technology and engineering.
There are several factors that contribute to the gender pay gap, including unconscious bias, occupational segregation, and lack of access to opportunities. AI recruitment can help to address some of these factors and improve the gender pay gap in South Africa.
Whether you are a fledgling start-up or a seasoned business, there may come a time when you need to borrow money to take your business to the next level. With the options available when it comes to borrowing money, you may feel overwhelmed. But here is a short guide of aspects to consider when you borrow money for your SME.
One of the biggest downfalls for many small businesses is failed cash flow and one of the biggest culprits for failed cash flow is unpaid invoices. But there is a solution. By taking a few steps you can up your chances of getting paid. Let’s look at eight steps to getting paid.
South Africa’s small business sector is a tough environment to break into, but those who succeed in weathering the storms of the first few years of business, have a real shot at scaling their business to new heights. Arguably, effective financial management is the single most important aspect of running a successful venture, part of which involves saving on a regular and consistent basis.
Providing commentary on this is Arnold February, Regional Investment Manager at small and medium-sized enterprises (SME) financier firm, Business Partners Limited. The ongoing quarterly SME Index conducted by Business Partners Limited has found, over a consecutive number of years, that cash flow remains the biggest challenge for local business owners. And, as February says: “Saving and cash flow management go hand in hand.”