Free expert advice for small businesses

COVID-19 regulations have dealt a punishing blow for small business owners across the country.

Not only are they faced with a loss of earnings but also difficulty in finding the latest information about government’s emergency rescue package, as well as relevant advice on urgent business interventions.

In an attempt to help, private higher education institution MANCOSA, is harnessing the support of subject matter specialists to provide free expert advice on a range of important aspects of business management.

The initiative has the backing of the Durban Chamber of Commerce and Industry as it aligns with the chamber’s intention to provide quality business support to its members and the broader business community at this challenging time.

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Professor Magnate Ntombela, Academic and Social Purposes Initiative Director at MANCOSA, said: “Small businesses which are in ICU are being bombarded with information and advice from all sides. There is information overload. Some organisations are capitalising on the crisis and want to charge a fee for advice.

“MANCOSA business school has decided to address the call from SMMEs for bite-sized content that can be easily understood and will help answer the many questions small business owners have relating to tax matters, occupational health, human resources, how to apply for relief funding, coping with debts, property rental issues and managing the cash flow.”

Small businesses include hawkers, street traders and all businesses in the informal trading sector.

These are run by the most vulnerable groups in society, most of whom cannot access bank loans or state funding.

“The team of experts in various fields will share information on an easily accessible platform to assist small businesses to negotiate the minefield of red tape and bureaucracy as they battle for survival under these harsh economic times,” said Ntombela.

Durban Chamber of Commerce and Industry CEO Ms Palesa Phili said, “Businesses require support to interpret newly-formulated legislation and navigating a myriad of disruptions and threats to their sustainability, from cash flow pressures; compromised employee health; business operations upheavals; and limited mobility; to drastically reduced export markets and many more problems.”

The following are the subject experts who will share advice for SMMEs:

COVID-19 Survival Tips for SMME’s – Bruce Macgregor is a South African lawyer and UK Solicitor, he currently deals with SA investment into the UK, and hopefully in time UK investment into SA. Bruce will provide advice to help businesses survive post-COVID-19, including how to manage employees, accessing government relief, UIF benefits and other legal considerations.

Psychology of lockdown: Adapting to a ‘new normal’ – Elizabeth Lumley is a Durban-based Industrial and Organisational Psychologist. Her passion is to embrace every opportunity to help individuals develop themselves on a personal and professional level.

Taxing times: COVID-19 special tax relief – Aneria Bouwer is a partner in Bowmans’ Cape Town office Tax Practice. She advises on all aspects of domestic and international tax, and also on exchange controls. During the lockdown, she has been advising various clients on the special tax measures introduced to help individuals and businesses during these vary trying times.

Cash is King & Keeping your site COVID-safe – Riaz Dhai is a Chartered Accountant and the managing director of Sachet Manufacturers. Riaz will discuss cash flow management and will also provide health and safety tips for businesses and their employees.

Relief Funding Toolbox for SMMES – Melitta Ngalonkulu is a financial journalist at Moneyweb, where she reports on companies, markets, the economy, small businesses and current affairs.

Short audio clips of the advice offered by the experts will be made available on the websites of MANCOSA (www.mancosa.co.za) and Durban Chamber of Commerce and Industry (www.durbanchamber.co.za) as well as their other social media platforms.

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