Author: Ronel Jooste

Coronavirus: Business and financial lessons

Coronavirus: Business and financial lessons

Posted by | Apr 5, 2020 | , |

The impact of the coronavirus on the economy, businesses and individuals will be phenomenal.
Suddenly terms like ‘unforeseen circumstances’, ‘in case of an emergency’, ‘in the event that’, ‘potential risk’, ‘probability of an unforeseen event happening’, ‘what if’, ‘if it happens to you’, became a harsh reality and the real meaning of these terms became clear. Yes, ‘emergencies’ and ‘disasters’ can in fact happen. It can happen to all of us and it can happen at the blink of an eye.

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Payment holiday: what you should know

Payment holiday: what you should know

Posted by | Mar 30, 2020 | |

Covid-19 certainly calls for extreme measures. The financial impact on individuals and businesses is extreme. Individuals and businesses are desperately looking for solutions to carry them through the lockdown period as well as the recovery phase thereafter. Most banks and other credit providers have offered payment holidays. Payment holidays are a welcome relief and definitely one solution to consider. It is however important to fully understand what a payment holiday entails, and what the impact thereof is over the longer-term.

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Interest rate cut: Take Advantage

Interest rate cut: Take Advantage

Posted by | Mar 25, 2020 | |

The South African Reserve Bank (SARB) has announced an interest rate cut of 1% (100 basis points) effective from March 2020. The interest rate cut brings the repo rate down to 5,25% and the prime lending rate to 8,75%. The impact of Covid-19, specifically the proposed lock-down period of 21 days, on individuals and businesses will be phenomenal putting the economy under more severe pressure. Cutting the interest rate will certainly bring much needed relief for many households and businesses amidst the latest crises we are currently facing.

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8 Financial Reasons Why Businesses Fail

8 Financial Reasons Why Businesses Fail

Posted by | Jan 23, 2019 | |

Many businesses fail due to finance related reasons. Financial reasons can cause for both small businesses and large corporates to fail. South Africa has one of the highest failure rates of new SME’s in the world. A study done by SEDA (The Small Enterprise Development Agency) in 2017 indicated that 75% of SME’s in South Africa fail. What are the 8 financial reasons why businesses fail?

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