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IN THIS ISSUE

How Chaos Sparks Business Innovation  • Tax Incentives to Invest in Small Business: The Clock is Ticking  • Six Important Business Lessons from the Coronavirus Pandemic  • Tips and Ideas to Retain Your Best Staff and Skills During COVID-19  • Tax Deadlines for September

How Chaos Sparks Business Innovation

The greatest innovation is created in times of chaos, when opportunity abounds. Many successful business stories began during times of recession, depression, chaos and crisis, such as Uber, Airbnb, WhatsApp, Slack, Pinterest, Square, Disney, Sony and the iPod.
 
In the midst of the unprecedented chaos, created by COVID-19 on a global scale, we have witnessed great and inspiring innovation, as local and global businesses innovate ways to stay relevant in industries completely disrupted, if not shut down, by the pandemic and the lockdown.
 
Find out how you can innovate in your business and industry with a simple three-step system that can transform a time of chaos into a catapult for creation and innovation.

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Tax Incentives to Invest in Small Business: The Clock is Ticking

National Treasury is reviewing all of its business tax incentives to determine to what extent they are contributing to policy objectives. One such incentive under review is the “Section 12J” incentive, which allows an investor a deduction of the full amount invested in a Section 12J VCC (Venture Capital Company), provided certain requirements are met, from its taxable income.
 
The VCC regime was introduced in 2009 with the objective of boosting economic growth and job creation by assisting small businesses that cannot obtain financing from financial institutions to access equity finance.
 
The regime is subject to a 12-year sunset clause that ends on 30 June 2021 – if your small business needs venture capital funding, the clock is ticking!

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Six Important Business Lessons from the Coronavirus Pandemic

The coronavirus pandemic arrived like a thunderbolt and the unique situations it created found many companies unprepared and disorganised. Around the world, organisations began closing as it was found their emergency planning was not up to scratch and basic functions of the company could not exist in the new world.
 
Now that we are half a year into the outbreak some companies are still playing catch up and many will never manage. For those who have survived and even thrived, there are plenty of lessons to take away from COVID-19 that will hopefully change the way we do business and future proof our endeavors for the inevitable coming emergencies.
 
We discuss six of the most important business lessons we can all benefit from.

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Tips and Ideas to Retain Your Best Staff and Skills during COVID

In the highly competitive local economy, disrupted by the arrival of the COVID-19 pandemic, firms more than ever cannot afford to lose their best staff and skills.
 
We provide critical insight from leading business thinkers including practical advice that you can implement to ensure you retain your best performing staff and skills so as to avoid the significant cost of having to hire new people.
 
We also bring you a vital understanding of how employees’ needs and requirements have radically changed due to the national lockdown and COVID-19. Take advice from experts for keeping your employees motivated and keen to stay at your company!

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17th Floor, No. 1 Thibault Square, 1 Long Street, Cape Town, 8001

MGI Worldwide is a network of independent audit, tax, accounting and consulting firms.

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