By applying the tools and protection provided for in the Companies Act written into law last year, business owners can manage their business risks and rescue it before they hit rock bottom. By Juan Engelbrecht Donald Trump, whose successes and failures have been widely published, described his second Chapter 11 reorganisation in terms of the US bankruptcy code as a sign of success, not failure. On his return to Apple, Steve Jobs faced a huge task to turn the business around and build it to the richest company in the world. Closer to home Whitey Basson had turned an ailing Checkers brand into a powerhouse retailer with R72-billion sales per annum. In South Africa there is a certain stigma attached to insolvency as it is generally regarded as a sign of failure and insolvent debtors are often suspected of being reckless, dishonest or both. This view, however, may be changing as more high profile businesses apply for business rescue as a means of avoiding liquidation. An exampl

Scooters Pizza Glenwood’s operational proficiency and customer appeal is now equally appealing, following a recent change of ownership and store revamp, of which the latter aligns to Scooters Pizza’s overall brand make-over. The Durban based store has been reinvigorated with the incorporation of Scooters Pizza’s more up-market, engaging, modern, and fresh branding, which has made for a more visually attractive and enticing dining environment. In addition, the store has been enhanced with increased strategic value as businessmen Dean Clark and Gavin Penfold have drawn on their considerable expertise and management experience to implement several noteworthy changes. “Our initial goal at Scooters Pizza Glenwood will primarily revolve around implementing basic but necessary measures related to store operations. This includes opening and trading ever day according to our operational hours, and ensuring that our staff fully understand and comply with their duties,” says Penfold

According to the Electrical Machinery Regulations of 2011, as issued under the Occupational Health and Safety Act 85 of 1993, property sellers now need to obtain Electric Fence System Compliance Certificates just like they need Electric and Plumbing Certificates and, in the coastal regions, Beetle Certificates. Originally properties affected were those where an electric fence system was installed after 1 October 2012 and those where any alteration or addition was effected after said date. Dykes van Heerden Attorneys indicate that a certificate also needs to be issued should a transfer of property with an electrical fence take place after 1 October 2012. According to Smith Tabatha Buchanan Boyes this deadline was extended until 1 December 2012, implying that contracts signed on that date or thereafter are affected.  Johan Pretorius, National Chairman of the South African Electric Fence Installers Association (SAEFIA) clarifies what seems to have caused some confusion: electric

The residential property market survived 2012 with a few nicks and bruises but, generally it remained stable with positive signs; like the banks relaxing their loan requirements and the historically low repo rate to help matters along. That was 2012. In 2013 the FNB’s latest Household Consumer Debt Service Risk Index paints a picture of trouble to come; currently the household debt-to-disposable-income ratio stands at 76% and the Debt Risk Index stands at 6.68% - considerably higher than the long run average of 5.3%. But what do these figures mean to you and me, the average homeowner? They imply that, for most of us, our household debt is higher than our disposable income which is easy to forget when interest rates are low (they are presently at 8.5% and not expected to go lower). The problem is that what goes up must come down and vice versa. John Loos, Household and Property Sector Strategist at FNB, points out that: “Should interest rates not decline further, and currently

We show you how to get the most out of your social media networking. By Francois Muscat I often hear people, especially baby boomers, say they’re not into ‘social media networking’. While many of us have set-up Facebook profiles, other networks like Pinterest, Twitter and especially LinkedIn can easily seem like a waste of time and too much admin. If you’re a franchise owner, or any type of executive or business owner, LinkedIn should be your most important networking tool. There are over 160-million LinkedIn users who are willing and able to start networking with you professionally. Africa alone has over 4,4-million LinkedIn members. What makes LinkedIn different from other social media sites is the business aspect it brings to social networking. Each social network has its own personality. While Facebook can be likened to an online pub where people get together and share photos and stories about their lives, LinkedIn, on the other hand, is more like a trade show. You will on

Due to the current economic conditions fewer people are able to purchase a home – albeit it to live in or to buy-to-let. “Everyone needs somewhere to live and, if possible, it’s always best to purchase a home; as such the residential property market has continued to see movement. However when it comes to second properties or investment properties the market has taken strain over the past four years as people tighten their belts,” says Jan le Roux, CEO of Leapfrog Property Group.   Recent research conducted by John Loos, FNB Household and Consumer Sector Strategist and Michelle Dickens, Managing Director of TPN (Tenant Profile Network) indicate that the investment segment of the market may be improving. The reason being that more people are looking to rent in an effort to avoid the costs associated with owning a property, boosting the rental markets across the country.  The latest FNB Property Barometer also predicts a further downward correction in terms of house prices which may well

Do you have sufficient cover? By Trevor Kingsley-Wilkins In this article we talk about disability insurance, the cover available, the aggregation thereof and we shed light on how group schemes differ from individual schemes. Group versus individual policies A group scheme is a policy taken out by an employer to cover the employees in his employ in the event of disablement, while an individual policy is one that individuals can take out on their own. The main difference between a group and an individual policy is that with a group policy, the insurer covers a group of employees, some sickly, some healthy, some young and some old. The insurer of a group policy is therefore able to provide an automatic level of cover, to a certain, limit without requiring members to complete any medical requirements. This automatic level of cover is referred to as the Free Cover Limit. Any member whose benefit exceeds the Free Cover Limit will be required to undergo medical underwrit

I am often asked whether it is, in fact, possible to succeed with nothing and my answer is a resounding “Yes!” By Dr Vijay Bahadur  “So how do you succeed with nothing?” you ask. Here are ten points to consider and use at your discretion. YOU The road to success starts with YOU. Start your journey by conducting a SWOT analysis on yourself. Knowing yourself and accepting who you are, are important steps in developing the self-confidence that will give you a competitive advantage. Develop your confidence by placing yourself in situations where you can build, learn and experience. This does not have to be in your field of expertise, it can be any situation where you are able to network or conduct small deals or negotiations. CULTURE   Being successful and having money is a culture, a lifestyle and an attitude towards money and success. Having money, being rich and having a successful career is a culture and like attracts like. Conversely, the ”have not’s” exhibit

Following the tragic loss of life at Marikana mine there has been much finger pointing and apportioning of blame. We ask “What can the average organization learn from this incident to prevent such events from occuring on their own shop floor?” Contributed by The Orange The debate about whether unions add value to or hinder economic growth has always hinged on two opposing arguments. On the one side there are those who hold that unions offer a pathway to higher wages and prosperity for the lower paid workers, while the opposition considers their demands and methods a hindrance to the economy. To whom then should policymakers lend an ear? Unions have been the subject of extensive studies conducted by economists. A broad survey of these academic studies reveals that while unions sometimes do achieve benefits for their members, they can also harm the overall economy. While it is true that the average union member earns more than the average non-union worker, expanding union member

Advice on franchising by Pieter Scholtz, Master Licensee for ActionCOACH SA. ActionCOACH is one of the fastest growing and most successful business coaching franchises in the world today. By following these five simple but highly effective steps for generating leads and converting them into paying customers, you can double your client base in just a few weeks. 1. Build a Loyalty Ladder to create ‘Raving Fans’ Loyal customers are the ideal and those loyalists who refer others to your business are even more valuable because they are active advocates. However, the most prized clients are the ‘raving fans’ who are so energised about the level of service they receive, that they cannot stop telling others about it. ‘Raving fans’ are a tremendous source of new customers and a sacred asset in any business. If a business identifies its loyal customers and then treats them to a very high level of service, these loyal customers will become ‘cheerleaders’ for the business and the