WATCH: Business guru inspires locals to drive economic growth
Attendees said it was exciting to hear about the potential of using tax money to install solar power that can help to offset the effects of load-shedding on businesses and homes.
The Boksburg City Improvement Project (CIP) recently held a business breakfast at Function Inc. in Boksburg North to raise funds for its upcoming community projects.
The event, at which economist, entrepreneur and executive chairman of Impact Investment Group, Chris Hart, was the guest speaker, also offered a networking opportunity with like-minded, entrepreneurs and business leaders.
The event raised R15 000 and they will deposit these funds to CIP’s newly formed NPO account for the funds collected for community projects.
These community projects include fixing roads, grass-cutting, clean-ups, and dealing with issues about safety and security – such as burglaries, robberies, theft and vandalism, environmental affairs that include illegal dumping, pollution and illegal land use and economic development.
Hart pointed out that, in line with Section 12B in the Income Tax Act, citizens can use their taxes to fund solar investment opportunities to improve the security of their businesses in South Africa.
He highlighted some of the ways businesses could partner with local communities and create jobs by structuring their taxes into a solar opportunity.
Hart explained there were ways in which Impact Investment Group worked regarding this funding mechanism to find resources to help fund community initiatives and the well-being of a community in terms of its economic opportunities, such as jobs and business creation.
One of the attendees, Howard Skeens of Sunward Park, said the talk was informative.
“We know there is a large unemployment rate in South Africa and big businesses alone cannot absorb this because they are, generally, retrenching.
“Chris told us that the only way we can reduce unemployment is by concentrating on small and micro businesses. He explained how to invest in small businesses and give them the required start-up capital so that they could absorb the unemployed and get the economy back on track,“ said Skeens.
Moses Tsolo, Marius de Vos, Buchanan Peters and Elaine Appies.Sechaba Letsie, who runs a small business in Kempton Park, said, “I’ve learnt that if we work together and support each other, we can grow our businesses and ultimately improve our economy.“
Anele Faye, who runs a small construction company in Boksburg CBD, said he would heed most of the advice he got from the session.
“I’ve learned a lot, including how to build a company from something small and how to manage a company.
“This meeting gave us very progressive ideas,“ said Faye.
CIP committee member Wesley Hermanus said, “This was an informative session. Our keynote speaker left us with some good points to think about. One, in particular, is how much benefit you can derive from participating in solar as an alternative form of energy and what sort of tax benefit you can get from that,” he said.
Destination
The new CEO of CIP, Talfryn Harris, said they are pleased with the good turnout.
“It’s good to see there are so many people who still care about our city and are willing to help us raise funds for the projects that keep our streets clean, fill potholes and look after our people.
“We are very excited to work with the City of Ekurhuleni to create a city that is a suitable destination for tourists and a magnet for investment and a good place to live, work and study.
“For me, it was exciting to hear about the potential of using tax money to install solar power that can help us to offset the effects of load-shedding on our businesses and homes.
“He also explained it doesn’t only apply to companies, but individuals can also offset their taxes by installing solar equipment not only in their houses but in the houses of other people who need it.
“For instance, a company could offset its tax by installing solar electrical equipment on the homes of their employees, particularly in areas that are hardest hit by load-shedding, such as townships.
“This is a great way for us to redirect our tax money away from corruption towards renewable energy. This can help us transition away from coal-fired power stations and reliance on Eskom to a situation where every home and business has its own power source linked to the grid to share the excess that they produced.”
The Advertiser also caught up with director of Impact Investment Group, Dave Humphrey, for more of the detail.
The Boksburg City Improvement Project, which has already been involved in various community activities, aims to help improve the state of Boksburg.
The members meet regularly to brainstorm ideas and come up with initiatives aimed at addressing the challenges in the communities.
To get involved, contact CIP committee member Derek Fox at 082 886 0651.
Also Read: Project to restore Boksburg CBD gains momentum
