Page 13 - Bizmod Thought Leadership Articles 2020

• Greater policy certainty on all key Government Policies, from land reform to regulations surrounding labour broking.
• Being able to o away with bad policy faster. An example of where this did not happen was in the changes if visa requirements, leading to an unnecessary dent in our tourism industry.0
• Lower compliance requirements for companies with a turnover under R50 million. The cost of compliance for smaller enterprises is significantly higher in comparison to their income and the cash they have available. Smaller companies need simpler frameworks where compliance is required. A portal similar to Sars e-filling, which make compliance across carious pieces of legislation clear and simple, would be ideal.
• The Labour relations Act is a key piece of legislation that has done much to protect the rights of employee and employer. Some innovations is, however, required in labour practices, allowing for mutually beneficial flexible working relationships.
• A framerok whereby large corporations and the government would have to allocatea certain minimum percentage to buying from smaller local companies. There are encouraging signs that this is happening more, however this is still not an intergraited practice. In addition, consumers should be more informed on what items are South African produced.
• Easier access to refunds, enabling entrepreneurs to grow their businesses. There are a few options available, but all of them require significant governance and red tape.
• Make good financial governance aspirational, attractive and easily accessible.
• The process for tenders to be corruption-free and fair, enabling more companies to add value.
• Pay SMMEs on 30 days or less. Enormous pressure exists on smaller companies when not paid on time. • Tax SMMEs at a lower tax rate. Profit tax should be lowered in order to drive entrepreneurship.
• Create a platform that makes it simpler to employ young individuals with potential and create support programmes for SMMEs to upskill them. There is a significant financial and time investment required to train a young person.
If we are able to make some of these ideals a reality, there is no doubt that we would see economic growth, entrepreneurial growth and more employment opportunities
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THOUGHT LEADERSHIP ARTICLES