MGI Bass Gordon Newsletter

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IN THIS ISSUE

Your SME and the Economy – Prepare for the Long Way Back • How to Protect Yourself and Your Company after the Experian Data Leak • Employee Health and Wellbeing: A Strategic Priority for COVID-19 and Beyond • The Feasibility of a Freelancing Business in Uncertain Times • MGI Moving Announcement • Tax Deadlines for October

Your SME and the Economy – Prepare for the Long Way Back

The South African economy could take as long as seven years to return to the size of R5.1 trillion it was at the end of 2019, before Covid-19 and the national lockdown. The most significant risk to the economic outlook is the precarious state of government finances, especially Eskom’s rising debt.

A slow recovery for the local economy is going to be “very negative” for unemployment, poverty and inequality.

Economists suggest that small businesses gear themselves for tough times, keep costs low, and ensure they are highly innovative. We give you critical insight into the future of the South African economy so you and your business can be prepared and ready for what experts forecast.

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How to Protect Yourself and Your Company after the
Experian Data Leak

Less than two months after the commencement of the Protection of Personal Information Act (POPIA), South Africa was affected by a massive data breach.

Experian, a consumer, business and credit information services agency, said on 19 August that it had “experienced a breach of data which has exposed some personal information of as many as 24 million South Africans, and 793,749 business entities, to a suspected fraudster”.

What does all of this mean for you or your company and how can you avoid becoming a victim?

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Employee Health and Wellbeing: A Strategic Priority for
COVID-19 and Beyond

Employee health and wellbeing (HWB) is vital for a company to sustain itself during the lockdown. But making your employees’ HWB a strategic priority creates a competitive edge that will be crucial for success now and beyond COVID-19. Employee HWB not only delivers significant benefits, it also creates an opportunity to play a leadership role in our communities and in our country.

In this article, you will find a list of key focus areas revealed by recent research to assist companies to tap into all the benefits of employees’ HWB and discover which components of employee HWB work best for large and small companies in South Africa.

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The Feasibility of a Freelancing Business in Uncertain Times

In the difficult and uncertain times in which we are encapsulated at present with the Covid-19 pandemic, one wonders what steps can be taken to ensure financial stability and growth over the medium term ahead, at least. Our economy, and that of the world at large, has been brought to its knees, unemployment is rife, many people are losing their jobs, and businesses are shutting down daily, while others are reducing their staff complement.

Being self-employed as a freelancer certainly is a valid option, but take great care before racing full steam ahead. As is often the case, unfortunately, one comes up with what one believes is a great business idea, with visions of grandeur and dollar signs springing up, ultimately only to fail. This is often because new business owners or freelancers do not perform the very necessary research and a greatly needed feasibility study.

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We are moving!

MGI Bass Gordon is relocating to a new business premises. We will be opening our new doors on 6 January 2021 in one of Cape Town's most upmarket buildings.

Our new address:
15th Floor, Portside
4 Bree Street
Cape Town
8001

Please take note that our main Switchboard contact number will remain unchanged. We have updated all direct extension numbers which are available on our website.

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+27 21 405 8500 | info@bassgordon.co.za
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.

www.bassgordon.co.za

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