www.businessxposure.co.za
Digital Magazine ENTREPRENEURSHIP. LEADERSHIP. BUSINESS
CAREER & LIFE
LEGAL ADVICE
BUSINESS FOCUS
FOUNDER | KOENA CLOTHING LOCAL BRAND WITH AN INTERNATIONAL CLASS
10
UNCOMFORTABLE THINGS THAT WILL
COACH & MENTORING
PERSONAL MASTERY
MAKE YOU SUCCESSFUL “ GROWTH AND COMFORT DO NOT COEXIST ” - GINNI ROMETTY
PUBLISHING CREDITS CHIEF EDITOR Benito Mamaile editor@businessxposure.co.za EXPERT CONTRIBUTORS Morgen Moyo Isaac Ndhlebe Malethola Matube Jacques Loots Elena Agaragimova Ryan Bubear
Koena Moabelo CEO, Koena Clothing
PICTURES Aviwe Media Photography Cover Photo Credit: Aviwe Media
COVER INTERVIEW
DESIGNERS Jabu Mataboge
PAGE 05 - 07
LEGAL Loots Attorneys ACCOUNTS Istora Rapule accounts@businessxposure.co.za
COMPANY PRODUCTS
PAGE 08
DISTRIBUTION Intellectual Media and Communications (Pty) Ltd PUBLISHED BY Intellectual Media and Communications (Pty) Ltd 81 Cassandra Avenue Bedworth Park 1939 Office Hotline
CEO, Koena Clothing
05 - 08
: +27 (0)16 985 4095 : +27 (0)81 322 5747
ADVERTISING ENQUIRIES Office : +27 (0)16 985 4095 Email : listing@businessxposure.co.za
Mind Mapping: 10 Uncomfortable Things That Will Make You Successful
23 & 24
Business Focus: Black Industrialists For Empowerment 21
NBX Summit: Register to Attend. Check for more info
02
Profile My Business: Connect to Top-Rated Businesses 10
Cars: Audi SQ5 Handed New Body Kit By Lumma Design
26 & 27
Editor’s Note
04
Coaching: Top 8 Guiding Wisdom Quotes to Live By
09
Personal Mastery: Walking The Fairways With The Only
Disclaimer:
Teaching PGA Qualified Young Black Woman In South Africa - Pro Bella Modisha Career & Life: Why Some People Don't Make It And How To Stop Being One Of Them
13
Legal Advice: Debt Help For Your Company
18
NEWS | BUSINESS FOCUS
15 & 16
National Business Xposure and Intellectual Media and Communications considers its sources reliable and verifies as much data as possible. National Business Xposure (EAN 0 606110 895835). However, inaccuracies can occur, consequently readers using this information do so at their own risks. National Business Xposure does not accept responsibility for omissions or errors. the points of view expressed in articles by attributing writers and/or in advertisements included in this magazine do not necessarily represent those of the publisher. Any resemblance to real persons, living or dead is purely coincidental. Whilst every effort is made to ensure the accuracy of the information contained within this magazine, no legal responsibility will be accepted by the publishers for loss arising from use of this information published. All rights reserved. No part of this publication may be reproduced or stored in a retrievable system in any form or by any means without the prior written consent of the publisher.
EDITOR’S NOTE IT’S OUR ONE YEAR ANNIVERSARY On the one hand, it feels like I’ve been doing this for a lifetime, while on the other, I find myself wondering “Where did the months go?” It’s been a year of excitement, highs and lows, long work days and sleepless nights, but I wouldn’t trade it for any other. We’ve come a long way, but I’d like to think that we carry the seed of that initial idea in most of the things we do, in how we have created a space for other people’s voices, how we have created ways for other voices to respond, to harmonise, to dissent. Have we been open and honest? Have we kept away from being trite? We hope so. We keep trying. So this editor’s note, and even this milestone NBX Digital Magazine, isn’t meant to be a retrospective. Instead maybe what we’re looking for is a little perspective.
BENITO MAMAILE Chief Editor
We’ve got 12 editions under our belt, we’ve met and spoken to so many new and interesting people, we’ve explored a lot of themes and different mediums of expression, thanks to our awesome contributors, supporters and team.
In my last editor’s note, I shared our upcoming entrepreneurship conference scheduled for the 28th of July. The National Business Xposure Entrepreneurship Conference is aimed at creating a contributive platform for entrepreneurs to access relevant entrepreneurship skills, knowledge, values and positive attitudes for their businesses. The programme will offer a package of entrepreneurship training that respond appropriately and adequately to the market and their business needs with the intention to create an awareness in order to mold their business to be managed more effective, profitable and be able to maintain professionalism and ensure that compliance is met across all respective relevant organizations. As part of our anniversary celebrations, we will be giving away prizes worth R100 000 to lucky entrepreneurs in attendance. We hope you do enjoy our 12th edition, until next time.
Email benito@businessxposure.co.za
Benito Mamaile
GOLF & PERSONAL MASTERY PAGE 13
LEGAL ADVICE PAGE 18
Q&A with Koena Moabelo Former Communications and Marketing Specialist for a few Government Departments in Gauteng. He worked with political offices in terms of developing and managing content, reputation and have worked on their social media platforms for several campaigns. NOW heads Koena Clothing, the company with the style that bring superb details and fabric for sophistication.
Benito Mamaile: In a brief, who is Koena Moabelo? Koean Moabelo: Koena Moabelo is a 32 year old male fashion and media specialist. He was born and raised in Limpopo, Ga-Matlala District, just outside Polokwane. He has a degree Media Studies obtain from University of Limpopo - Turfloop Campus.
BM: How did you obtain investors for your venture? KM: There are no investors in my business. My company was established on purely sweat, tears, mistakes and no funding. BM: What sparked your interest in clothing/fashion business?
KM: Most companies rip off our national. We decided to be the solution. Bring quality at best prices and again to show the world that a black man can compete with international brands. Our colors shows that we are African and we can make it no matter what.
Email info@koena.co.za
Koena Clothing
BM: What was your biggest fear when going out and starting your own line?
KM: Biggest fear was people opting for international brands while we exist. But we curved that ball by deciding to only release styles that are better than most brands. Our style is unique and colour is what describes our brand. BM: There’s so much pressure for designers to come out with their greatest collection season after season. What advice would you give to young designers just starting out and hoping to make it in the industry?
KM: Dedicate everyday to one design and Quit Quitting. To make sure the world can be fitted in your clothes, like us as we say they will be Koenafitted, stop talking down on yourself and don’t let others do. BM: How do you build a successful customer base?
KM: Honesty, quality, style and transparency. BM: What made you take clothing business more seriously and make a career out of it?
KM: I wanted to put my name on something. I have a background in media and becoming an influencer is what I know and have studied. But I will never be a celebrity because I’m more of a private person and now the company is doing what I need people to know. Also, if a company can sustain itself then let it run. Lastly, I wanted to contribute to creating jobs rather than looking for it. BM: How has your work evolved since you began your own label?
KM: We have an improved quality, we are able to keep customers, we are proud of what we do, we are also moving towards shoes. Most people start brands and print them elsewhere. We do everything from scratch to the finish line. We showcase that on our social media. I can promise you that every week, since it is still winter, we have a range launched every week. We will just make your go crazy.
I get inspiration from events that made history. The colour, sky and other cultures inspire us developing a design. Remember, we are a company that turned blankets into tracksuits. BM: Does your approach differ when designing menswear compared to womenswear?
KM: We started as a men’s wear company and then transformed to making unisex. Men wear pink these days and women wear their men’s hoodies on weekends. We decided to fusion the taste of two great creations into one. The aim to our approach is simple, we go wild to accommodate women and men. BM: What role do you think social media plays in fashion today?
KM: I make 100% of my sales from social media. If you can’t use social media to make money then you are left behind. It is indeed the age of smartphones and internet. BM: What kind of questions do you ask before beginning a design project? Which piece of information is of utmost value?
KM: I get inspiration from events that made history. The colour, sky and other cultures inspire us developing a design. Remember, we are a company that turned blankets into tracksuits.
BM: What trends do you currently see in the fashion industry?
KM: Three colors are now trending. White, Blue and White in one piece of garment is now the thing. If you are not colorful then you are in black going to some meeting. That is formal wear. BM: In one word, characterize your life as an entrepreneur.
KM: Busy! BM: What is the biggest mistake you’ve made as an entrepreneur?
KM: Not trusting in myself because of the colour of my skin. Our designs brought me people of color to be my customers. That is when I realized that “I am lost but on the right direction”. BM: How do you believe evolving technology will impact the way we do business over the next 10 years?
KM: I think technology has reached the roof; and it will remain like that moving forward. I feel a lot of customers just ask the price, get details, payment made and in a few hours, days then they receive their products. BM: What do you know today that you wish you would have known when you first got started as an entrepreneur?
KM: I have learned a lot. I learned that I don’t design for myself but for others. Their inputs are important. We always ask people to rate our products before we can even release them. BM: What is the best way to achieve long-term success?
KM: Work hard and focus. BM: What have been some of your failures, and what have you learned from them?
KM: Learn how to advertise on social media. Physical shop are for people who have money and established. Stop thinking you can put your product in big store if you are not working hard. Let them come to you. Stop chasing them. BM: Which 3 books would you recommend that every entrepreneur read?
KM: Strategy Development, The Age Of Social Media And Business Development BM: What service(s) or product(s) do you offer/manufacture?
KM: Shoes, underwear, equipment, socks, etc BM: What sacrifices have you had to make to be a successful entrepreneur?
KM: Sleeping tired every day BM: If you had one piece of advice to someone just starting out, what would it be?
KM: Once you start don’t stop Thank you sharing your thoughts with our readers!
Koena Moabelo CEO, Koena Clothing
Cuddle Range Hoodie - R1 500 Email info@koena.co.za
Koena Clothing
Orders | 073 014 0146
Tracksuit Set Range - R1 099
WWW.KOENA.CO.ZA
WISDOM QUOTES
By Isaac Ndhlebe Coach & Mentor
Human life does not start and end on earth; the earth is only a physical domain upon which man's true livelihood and spirituality is exercised.
“ A good visionary, out of good faith, embraces uninvited inquisitions from his vision bearers as vision clarifiers.”
“ Never let go of your dream; it is the one thing you will always fully own and control. ”
“ What you think, say or do has the ability to echo temporal, permanent or eternal results. Therefore, choose right and diligently exercise your willpower. ”
“ Never laugh when disaster befalls a good enterprise, for its trouble spells a compromised economic state in your market squares.”
Build A Lead Solutions is a newly established enterprise founded by Tshepo Motau. The company trades in an IT space focusing in all aspects from supplying of desktops, laptops, printers, accessories, technical support and software development services to public and private sector. Our Mission: Delivering a comprehensive range of services and striving for the highest standard of integrity and professionalism and continuously create employment.
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The Life Legacy Projects SA is a Business Management Non-Profit Organization focused on providing business and management consulting services to entrepreneurs. We assist companies that are looking for new market opportunities, who are preparing to enter a new markets, or want to improve their local market position. The Life Legacy Projects SA is headed by the founder, Gabriel Mokwana. Our service also range includes coaching, mentoring and SMME support.
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Miracle Construction In All Aspects was established in the year 2012 by Thabonyana Modise, it has been established with the purpose to contribute his skills and expertise to the growing demand in sectors such as but not limited to; construction, manufacturing and supply engagements. Miracles Construction is a company that complies with the stipulated acts and policies that govern business in South Africa presently., Our range of products are more focused on these markets/ industries Building Construction, Paving, Tiling, Roofing, Carpentry, Welding, Wall & Kitchen Units Installations
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Primefrontier Solutions was established in the year 2018 by Thabiso Mxolisi Ndlovu, it has been established with the purpose to contribute his skills and expertise to the growing demand in sectors such as but not limited to; construction, cleaning and supply engagements. We are a company that complies with the stipulated acts and policies that govern business in South Africa presently. We fully comply with all the BEE codes and standard business requirements. We are committed to our responsibilities in respect of safety, health and the environment, which are all integral to the way in which we do business.
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Our Construction Management (CM) team is closely involved in the planning and design phase and typically joins the project at the same time as the architect.
Danville Social Housing
We provide input on constructability, budget, and schedule, which reduces costs. During the construction phase, our full-time supervision team is on-site, monitoring work to assure compliance with specifications, budget and schedule.
We continually keep abreast with new developments in all
fields of the construction industry Golden Gardens ▪
Civil engineering works
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Electrical engineering
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Construction of roads
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Storm water infrastructure
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Bulk earthworks
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Water and sanitation infrastructure
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Affordable and subsidized house building works
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Materials Procurement and Distribution
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Capacity Building and Skills Training
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Program and Project Management
Golden Gardens Road Works
The core business model of Gamont Housing SA is the servicing and building of low cost Housing within South Africa. Since 2004 Gamont Housing SA has completed in excess 100 000 units in the South African Housing industry. Projects range from RDP social housing to bigger Bonded Housing in disadvantaged communities. Gamont Housing SA has experience in the following areas of Housing Development. ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
Peoples Housing Projects Essential construction services RDP housing Developments Community upgrades Bonded Housing Development Building of Schools Bridges, Dams & Roads Shopping Mall Developments
Storm Water
Office | +27 (0)16 421 5082 Fax
| +27 (0)16 421 5083
www.gamonthousing.co.za
Badirile Project
“ A multi-award winning and highly certified company � Since its inception Gamont Housing SA has been awarded numerous awards of excellence.
Best Developer in Gauteng in 2008 Best Priority Project Award (Provincial and National) in 2013
Govan Mbeki Awards in 2012
Govan Mbeki Awards in 2013
Govan Mbeki Awards in 2015 SA Construction Awards - Employer of the Year in 2016
Govan Mbeki Awards - Best Informal Settlement upgrading Project in 2016
www.gamonthousing.co.za
Walking The Fairways With The Only Teaching PGA Qualified Young Black Woman In South Africa - Pro Bella Modisha My growth in golf continues to be inevitable; I have recently been appointed by one of the successful premium golf courses in South Africa as the Operations Manager, the Royal Johannesburg and Kensington Golf Club, ranked 7th in the Golf Digest top 100 golf courses in South Africa. 6. What is your vision in golf?
A wonderful Sunday afternoon at the Royal Kensington Golf Club in Johannesburg spent with Pro Bella Modisha engaging her on her continuous amazing journey to greatness within the male dominated golf industry. We discover how she started and continue to grow and stay focused in a quest to inspire girl children and young women to prosper despite their backgrounds: 1.
When did you start playing golf?
I started playing golf in grade 11 through the South African Golf development Board (SAGDB) in 2003. 2. What inspired you to play golf? I was curious to know what golf was about. I fell in love with the game. 3. What has been your role in golf as a young woman? In my teens I played junior tournaments as part of the SAGDB and David Riddle Golf Academy. When I joined the Women’s World Cup Of Golf I was a young woman, I played amateur tournaments around South Africa. In 2009 I became a mentor for the girl children in the Acer Girls Development Program.
I continue to challenge myself to be the best I can be and change lives on and off the fairways through golf as a Teaching Golf Professional for all kinds of golfers from beginners to advanced: women, children and men. Making golf fun and unintimidating for all is my mission. I want to see golf in South Africa growing sustainably both competitively and socially. I’m a living testimony that the game I started playing over 15 years ago as a girl child from humble beginnings can shape anyone to reach greater heights. As a woman in this male dominated industry, my growth in golf continues to be a wonderful and challenging journey, I wouldn’t give it up for anything. 7. How do people get hold of you for golf lessons? My email address is bellamodisha@gmail.com We salute youth and young women like Pro Bella Modisha who continue to be trailblazers in personal mastery and continue to prove that Gender Equity and Transformation are achievable despite your background; that education is the best enabler. “Education is the most powerful weapon which you can use to change the world.” - Rolihlahla Nelson Mandela
4. What challenges have you been faced with in golf? I wanted to turn Pro and play on the PGA tour but I did not have funds to pursue my dream. I tried to find sponsorship but I was unsuccessful. I feel there is still a very big challenge in golf where aspiring playing golf professionals and amateurs still struggle with growing in golf due to lack of funding and resources. Only the few who have adequate resources and financial assistance continue to prosper. 5. How did you overcome the challenge that you were faced with in pursuit of your dream? I did research and discovered that there were other opportunities in golf that I could pursue. I found work as a receptionist at the Planet Fitness in the year 2010 in order to fund my studies. In 2012 I registered for Sports Management through UNISA of which I completed. I was then employed by the Pro Shop from 2012 to 2014 where I was trained as an Exact-fitter in golf equipment. Through sheer hardwork and perseverance I was appointed by Super Golf where I showcased newly launched golf equipment introduced by different brands. My career in golf continued to flourish; I was then appointed by the Momentum World Of Golf as a Golf Instructor. A great opportunity I enjoyed from 2014 to 2016.I enrolled to study my diploma in teaching golf at the PGA of South Africa. Upon completion of my studies I was appointed by the Observatory Golf Club as the Golf Operations Manager and Teaching Golf Professional.
Malethola Matube Founder, Progressive Women In Golf
info@pwingolf.co.za Progressive Women In Golf @
pwingolf
pwingolf www.pwingolf.co.za
WE’RE LOOKING FOR RESULTS-DRIVEN SALES AGENTS IN EACH PROVINCE BRILLIANT COMMISSION, WE GIVE YOU UNCAPPED EARNING POTENTIAL. BONUSES WHEN EXCEEDING TARGETS What we provide •
Full in-house product training
Responsibilities • • • • • • • • • •
Present, promote and sell products/services using solid arguments to prospective customers Perform cost-benefit and needs analysis of existing/potential customers to meet their needs Establish, develop and maintain positive business and customer relationships Reach out to customer leads through cold calling Expedite the resolution of customer problems and complaints to maximize satisfaction Achieve agreed upon sales targets and outcomes within schedule Analyze the territory/market’s potential, track sales and status reports Supply management with reports on customer needs, problems, interests and potential for new products. Keep abreast of best practices and promotional trends Continuously improve through feedback
Requirements • • • • • • •
Proven work experience as a Sales Representative Familiar with CRM practices along with ability to build productive business professional relationships Highly motivated and target driven with a proven track record in sales Excellent selling, communication and negotiation skills Prioritizing, time management and organizational skills Ability to create and deliver presentations tailored to the audience needs Relationship management skills and openness to feedback
Successful applicants must have the following: • • • • • •
Completed Matric or equivalent Relevant qualifications in sales will be essential Minimum 2 years work experience Fully bilingual in English and Afrikaans Clear criminal record Own car will be essential as well
Send your CV to vacancy@businessxposure.co.za or fax to 086 597 9601
WHY SOME PEOPLE DON'T MAKE IT AND HOW TO STOP BEING ONE
Elena Agaragimova Agar Consultancy Career/Performance Consultant – UAE, Dubai
OF THEM
Why is it that some people don’t make it in their lives? By make it, in this case, I am talking about people who don’t’ reach their potential, don’t make a change that they want, don’t get the career/life they want, etc. We all know those kinds of people, maybe you are one of them. Well, today I am calling it! Enough is enough. Stop being that person. Life is too short and you deserve to live your best life.
Here are some things to stop and some things to start doing TODAY to get you to take action. 3 THINGS TO STOP DOING (AND THESE ARE THE 3 REASONS WHY MANY DON'T MAKE IT) 1. GIVING UP CONTROL. The minute you start blaming the job market, your environment, your company, your parents/significant others, your past, etc. for things that don’t go your way, is the minute you give up control and power over your own life. Read that again. 2. GIVING YOURSELF EXCUSES OF WHY YOU CAN’T DO SOMETHING. Don’t have time to do something? Ok, I will make easy, let not talk in days, let’s talk in weeks -- you want to tell me you don’t have 1 hour per week to focus on your personal and career development? Be honest with yourself. Don't think you have what takes? Well, what does it take? Develop those skills, learn new things, experiment, don't create limitation and assumptions that may or may not be there. Don't have a strong support system? Get yourself a new circle of friends; surround yourself with people who inspire you to the best version of you that you can be. 3. HAVING A FIXED MINDSET. Some people have a fixed mindset which means they believe there is no more room for improvement, that what you get is what you get in life, that there is no way to get better or to overcome obstacles, that whatever skills he/she has today is all they got and they don’t need to improve anymore.
Anything that comes easily will also go easily. Anything that is worth having will require work and patience. - Elena Agaragimova, Agar Consultancy
3 THINGS TO START DOING 1. TAKE CHARGE OF YOUR LIFE AND CAREER. Find out what you want, try things, make a plan of action, create timelines, self-educate, do your research, reach out to others. Do something! Find that purpose. We all have it, and it doesn’t include doing several things at once. Your life is 100% your responsibility. Nobody cares about you like you.
2. FOCUS. Find an area of focus and focus on that. Too many people are out there spending years jumping from job to job, career to career because they never stop and get to know themselves, their interests, etc. (If you are a fresh graduate, you still have the luxury of time to jump around and try things, but aim to find an area of focus for yourself). Find what is it that you are good at, what you want to be an expert in, grow in that field; to become great at something it takes time, so give it your time and energy. 3. TAKE CARE OF YOUR BODY AND MIND. Health and well-being over it all. Make time for regular exercise and meditation. Stop eating processed/fried/sugary foods. You are what you eat. You only have one body, take care of it! It will add to your energy, clear mind, and overall drive in life. It is never too late to start! Don’t know what you want for your career/life? •
There are countless of resources and tools available online to help you figure out your interests, passions, etc. There are no more excuses of not knowing or not having access, so stop it. Look at Udemy and others MOOCS that offer various free or cheap resources on figuring out your strengths, interests, etc. Also, check out Strength Finder to help you identify your strengths and talents. Use Google! Do your research.
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Talk to a mentor/career coach/therapist. Figure out your things.
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Meet as many people as you can, ask them about their stories, hear from their perspectives and journeys. You don’t know what you don’t know, so reach out to others, learn from them, it will get you closer to figuring out your pathway.
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Read. Every day, a little bit. About anything. Just read. Don't like reading? Listen to a podcast or watch a video.
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Read my previous blogs on career planning and personal brand, both of which might help with getting started.
More times than not all it takes is determination and perseverance to achieve our goals. If things came easily, we would all be at our full potential. But, they don’t come easily and you need to work to make things happen for you and your life. It starts with you so begin there! Anything that comes easily will also go easily. Anything that is worth having will require work and patience. Email: elena@agarconsultancy.com Elena Agaragimova
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Business Cards x500 • • • •
Double Sided Laminated 350gsm Matt Finishing
Media / Graphic Wall Banner 2,5 x 2,5m Complete Frame Printed Banner Bag
Teardrop / Pull Banner • 2x 850 x 2000mm Pull Up Banner • 2 x 3m Telescopic Flags • 2 x 3m Branded Pop-Up Banner • Bag
Vehicle Branding
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• 2.5 x 2.5 Graphic Banner Wall • 2 x Bar stools • 2 x X/Frame Banners • 1x Curved Promo Table
016 985 4095 081 322 5747
www.intellectualmedia.co.za
DEBT HELP FOR YOUR COMPANY
Jacques Loots An Admitted Attorney
In the current economic climate in South Africa, many companies are struggling to meet their financial obligations resulting in the massing of debt that can eventually stop the functioning of the company as it may result in suppliers discontinuing delivery, employees departing or utilities being cut.
The most important thing to do is to be proactive and ensure that you identify any financial weak spots immediately and start making the necessary arrangements before it is too late.
The question arises when is a company financially distressed? The companies act give the following definition: If at any particular time, (i) it appears to be reasonably unlikely that the company will be able to pay all of its debts as they fall due and payable within the immediately ensuing six months; or (ii) it appears to be reasonably likely that the company will become insolvent within the immediately ensuing six months. My company is financially distressed, what now? The board of a company may resolve that the company voluntarily begin business rescue proceedings and place the company under supervision, if the board has reasonable grounds to believe that— (a) the company is financially distressed; and (b) there appears to be a reasonable prospect of rescuing the company. Remember however that this resolution contemplated in subsection may not be adopted if liquidation proceedings have been initiated by or against the company hence my prior advise not to wait.
Remember that an affected person can also make an application to the High Court for an order placing the Company under supervision and commencing business rescue proceedings. An affected person is defined as either a shareholder, creditor, employee (or their representative) or a registered trade union representing employees of the company. What is the role of the business rescue practitioner?
The practitioner is required to reduce the debt burden in order to enable the company to continue trading. They are required to investigate the company’s affairs, business, property and financial situation, and thereafter consider whether there is any reasonable prospect of rescuing the company. A business rescue plan must be drawn up by the practitioner and will then be put to a vote by the creditors. Once successfully voted in, the business rescue practitioner must implement and oversee the business rescue plan in an attempt to save the company. The practitioner must notify the company, the court and affected persons if there is: - No reasonable prospect for the company to be rescued or no longer reasonable grounds to believe that the company is financially distressed; or - Evidence, in the dealings of the company before the commencement of business rescue proceedings, of voidable transactions or a failure by the company or any director to perform any material obligation relating to the company and the practitioner must direct the management of the company to take steps to rectify the problem; or - Reckless trading, fraud or other contravention of any law relating to the company, and the practitioner must forward the evidence to the appropriate authority for further investigation and possible prosecution and direct the management to take any necessary steps to rectify the matter (including recovering any misappropriated assets of the company).
What effect does Business Rescue have on my employees? The Companies Act regulates the interests of employees during business rescue. Employees who were employed by the company immediately prior to the institution of business rescue will remain employees of the company on to the same terms and conditions except if different terms and conditions are agreed to between the employee and the company in accordance with labour laws in line with the business rescue plan. Employees will also have an opportunity to give input into the business rescue plan either by means of their representatives or trade unions. What effect does business rescue have on a creditor? Under the supervision of the business rescue practitioner creditors must comply with their obligations to supply goods or services to the company in the same manner in which they did prior to the commencement of business rescue proceedings, unless the agreement between the company and the creditor has specific guidelines in the event of an insolvency or business rescue. The business rescue practitioner will convene a meeting for the creditors where their input will be heard and considered. Creditors may not institute legal proceedings against the business once business rescue proceedings have started without permission of the business rescue practitioner or leave of the court. Remember that the purpose of business rescue is not to magically turn a dead business into a Fortune 500 company. It is rather a way for struggling companies to make one last attempt to ensure their longevity. The best way therefor to approach a business rescue whether voluntarily or forced by court order is to give the business rescue practitioner full cooperation and disclosure. For any queries regarding business or personal debt solutions please contact our offices for a confidential and honest opinion.
What happens to the directors during business rescue? They remain the directors. However, their powers and duties are constricted in that the business rescue practitioner has full management control over the company
082 441 7150
231 General Hertzog Road, Three Rivers
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www.tsox4change.co.za | 082 631 3778 | tsox4change@gmail.com
The government is planning to support a further 100 black industrialists as part of its black industrialist programme, Trade and Industry Minister Rob Davies announced on Tuesday. So far 102 black industrialists have been provided with financial support by the department under the programme, and 48 companies have received market access support. The programme, which will run over two years, will be fine-tuned and differentiated to tackle the different levels of development of the participants. The support for the 102 industrialists amounts to R2.2bn in commitments. It has leveraged R8bn in investment and has created and retained more than 18,484 jobs. During his budget speech, Davies also said a new R500m incentive scheme for the metal and engineering sector would mitigate the negative effect of tariffs imposed on steel imports. It would be introduced to protect ArcelorMittal, SA’s major steel producer. The tariffs were necessary to defend the steel giant against cheap imports. If SA’s biggest steel producer had closed down, this would have had knock-on effects on the downstream sector and resulted in job losses. Davies conceded that the tariffs had harmed the downstream industry, which has been hit by electricity price hikes and slower mining demand. The department is concerned about the decline of foundries, which, if allowed to continue, would result in deindustrialization. Therefore, it wants to stabilize the sector. The incentive will be matched against investments and will aim at enhancing competitiveness in the value chain. It will be tied to supplier development in certain cases. "As we have shown with our clothing and textiles programme, judicious use of incentives and other industrial policy tools can stabilize sectors in distress and position these for growth," Davies said. In terms of the industrialists programme, the minister said he would convene a dialogue with all approved black industrialists who had finalized the first phase of their investments to discuss further areas of collaboration. "In consultation with shareholder departments, we will set targets for state-owned companies for procurement of locally manufactured goods from black industrialists. In addition, we will expand designations in value chains where black industrialists participate," Davies said. "We will use the equity equivalent programmes more strategically to support industrialists with technical assistance and market access."
SOURCE: BUSINESS DAY https://www.businesslive.co.za By LINDA ENSOR
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Patrice Motsepe Founder | African Rainbow Minerals
Life and success begin outside of your comfort zone — dare yourself to do these 10 things and be amazed at the results.
“Growth and comfort do not coexist” — Ginni Rometty Wouldn’t it be fantastic if the road to success and happiness were an easy one? Unfortunately, as we all know, this isn’t the case. The reality is, you’ll only succeed once you force yourself to do things that you don’t necessarily want to. It’s true. You see, our brains are wired in such a way that we often don’t take action until we feel some sort of uneasiness or uncertainty. Multiple studies have backed this claim up, showing that performance spikes when we’re doing something out of our norm. The act of stepping outside our comfort zone is not only vital to our success, but also our well being and ability to grow as individuals too. With a little understanding and a few minor adjustments, you can break free and achieve more than you ever dreamt possible. So step out of your bubble and embrace the following ten challenges: ASK FOR WHAT YOU WANT. “Everything you want is out there waiting for you to ask. Everything you want also wants you. But you have to take action to get it.”- Jules Renard Too often, people don’t achieve the success they want simply because they arenot willing to ask for it. Sure, this definitely requires some courage because we do face the possibility of being rejected, but the ever looming ‘what if’ will be much harder to live with than any turndown will. Ask yourself what’s the worst that could happen. If it’s a simple denial it should never hold you back. GET UP EARLY. Unless you’re just naturally a morning person, setting the alarm clock for earlier than usual is a sure shot way to take you out of your comfort zone (and cause some early morning cursing).
However, carving out some extra time for the beginning of your days can be well worth it. Everybody from Bill Gates to Mark Zuckerberg swear by their rigorous morning habits as a key to their success. And academic research shows that those who adopt morning routines have a greater “ability to take action to change a situation to one’s advantage.” This will give you an opportunity to mentally prepare for what’s ahead, exercise, get a nutritious breakfast in (instead of eating something on the go like so many of us do) or simply take a few minutes for something you enjoy.
SAY NO. Recent research showed that the more challenging it is for a person to say no, the more likely they are to experience stress. We all know that ‘no’ can be a powerful word, but it’s one that you should not be afraid to use and use often. Saying no to new requests or invitations helps to honor your existing commitments and gives you the opportunity to adequately fulfill them. TAKE COMPLIMENTS. When many of us are given a compliment, our knee jerk reaction is to immediately jump to how we didn’t measure up or what we could have done better. These reactions, however, can have a negative effect on our self-confidence, our future career and even our relationships. If you work hard on something, why dismiss any positive feedback that deservingly comes your way? When you learn to accept compliments you’ll gain the chance to see yourself as your peers do, and odds are your confidence will soar.
GIVE AND TAKE CRITICAL FEEDBACK. “We all need people who will give us feedback. That’s how we improve” — Bill Gates Feedback develops humility and self-awareness and challenges perfectionism. Neither giving nor receiving critical feedback is ever easy, but remember that nothing worthwhile really ever is. However, if you learn to be open to feedback, you’ll see progress in your skill development and overall personal growth too. ADMIT MISTAKES. Uncomfortable doesn’t even begin to describe what making a mistake feels like. However, mistakes can almost always be turned around. The most effective way to replace that sinking feeling is to properly assess the situation and take action. To become an effective leader we must take on the responsibility of understanding our successes and our failures. Learning to admit mistakes will help you to earn respect, lead by example and build a culture of trust with your peers and colleagues. OVERCOME PROCRASTINATION. We all know that when the going gets tough, it can often be easy to just put off tasks until tomorrow. The problem is that ‘tomorrow’ often turns into the next day and then the next… before it eventually never comes. While we all procrastinate from time to time, successful individuals do something that most of us don’t- they stop making excuses and push past it. The best way to beat procrastination is to of course never let it begin. Write out the things you’re “going to do tomorrow,” create a schedule for these tasks, keep yourself accountable and imagine how great you’ll feel once they’re accomplished. LET GO. As we start to invest in ourselves and grow, we become more aware of the people and things that were previously holding us back. This may be in the form of a bad relationship, perfectionism, insecurities, late nights or a social media addiction. When we let go of what no longer serves us, we make room for more productivity, positivity and success.
AUDI SQ5 HANDED BOLD NEW BODY KIT BY LUMMA DESIGN… By Ryan Bubear Ryan has spent most of his career in online media, writing about everything from sport to politics and other forms of crime. But his true passion – reignited by a 1971 Austin Mini Mk3 still tucked lifeless in a dark corner of his garage – is of the automotive variety.
Source: http://www.carmag.co.za
The folks over at Germany’s Lumma Design have revealed a preview of an upcoming body kit for the Audi SQ5. Dubbed the Lumma CLR 5S for SQ5, the package will comprise body add-ons that the Winterlingen-based firm says are fashioned from “high-quality” reaction injection molding plastics and polyurethane. The kit will include a front spoiler extension, wheel arch extensions, integrated side-skirt under-splitters, a rear skirt extension (with diffuser), additional door panelling (front and rear) and square tailpipe covers (we’re guessing they’re still faux-pipes, like the standard vehicle) bearing the Lumma logo. A plate featuring the kit’s serial number will also be part of the deal, while a rear spoiler lip will be optional. In addition, Lumma says it will offer alloy wheels “in various designs”. From the looks of things, the SQ5 in Lumma’s preview renderings has also been lowered. It’s not yet clear whether the firm will also offer a tuning package (perhaps in collaboration with another tuning house) for Ingolstadt’s performance SUV, but it’s not like the turbocharged 3,0-litre V6 petrol mill is lacking in the oomph department, what with its stock outputs standing at 260 kW and 500 N.m…
Fuel Economy Ratings Compared
Test Results: Highway Fuel Economy
We’ve devised our own fuel-economy test in an attempt to replicate how most people drive on the highway. Our procedure entails a 200-mile out-and-back loop on Michigan’s I-94 highway. We maintain a GPS-verified 75 mph and use the cruise control as much as possible to mimic the way many drivers behave during long trips.