Author Archive | Stephen Timm

Small biz tax revamp

Tens of thousands of businesses that qualify for Small Business Corporation (SBC) tax benefits – including for the first time, those in a tax loss position – are set to benefit from a new R15 000 rebate from the South African Revenue Service (Sars). But, a few will lose out too. The annual refundable tax… [Continue Reading]

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Study shows startups rising

With a record number of over one in every ten adults involved in starting their own business last year, South Africans have become more positive about entrepreneurship than a decade ago, reveals the latest Global Entrepreneurship Monitor (Gem) report. While in 2002 just 6.5% of adults were involved in starting or running a new business,… [Continue Reading]

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Good lessons from Chile

Innovation is key. That’s what South Africa can learn from Chile, where something of an entrepreneurship revolution is on the go. In recent years the South American nation of 17 million has captured the attention of many with its Start-Up Chile programme. Launched in 2010, it offers entrepreneurs from around the world grants of $40… [Continue Reading]

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New youth directorate launched

Youth entrepreneurs can expect added support from the government this year in the form of additional funding and business support, following the launch of the Youth Development Strategy and the establishment of a new youth directorate at the Department of Trade and Industry (DTI). The strategy, launched in November 2013, seeks to boost youth entrepreneurship… [Continue Reading]

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Tax reforms on the cards for small biz

Almost 13 years after it was adopted, Small Business Corporation (SBC) tax could be set for a radical overhaul and its graduated structure replaced by a rebate, if proposals by a tax review committee are adopted by Parliament. The new proposals – which also include amendments to the turnover tax on micro businesses – follow… [Continue Reading]

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Billions set aside for emerging contractors

Government is making millions of rands in road maintenance contracts available to emerging construction contractors. A total of R8.2 billion has been set aside by the Department of Transport through its S’hamba Sonke road maintenance grant for the 2013/14 year for road repairs. The department estimates that more than 30% of South Africa’s almost 750… [Continue Reading]

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Small Business Connect

New fund to boost businesses

A new seed fund rolled out by the Technology Innovation Agency (TIA) will help boost entrepreneurs with bright new ideas that need funding. It is the first-such fund in South Africa as the country joins a number of emerging countries that already use small grants to help entrepreneurs fund the initial proof of concept stage… [Continue Reading]

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Importers to align designated goods to new BEE codes

Business owners who import goods that have been designated by the minister of trade and industry for local procurement – such as clothing, pharmaceutical products, office and school furniture and components for solar-water heaters – could see their BEE score significantly affected. Under the amended BEE codes of good practice, which were gazetted in October,… [Continue Reading]

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African markets open doors for local business

Rendani Makhomu and Peggy Mahlaba are two of an increasing number of local entrepreneurs venturing into Africa, with many more gazing with renewed interest at the continent. While Makhomu, who runs the Limpopo engineering company Tshete Holdings, plans to set up a small cold-mix asphalt manufacturing plant in Ghana, Mahlaba’s renewable energy firm has, since… [Continue Reading]

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Settlement sparks investment interest

Drawing the ire of one of the world’s biggest internet companies has been an unexpected boon for a young small town internet entrepreneur who dropped out of school in grade 8. Andries Maree van der Merwe, who taught himself to code, saw the number of hits on his site rocket from around 2 000… [Continue Reading]

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