The OFM Business Hour
The latest business news from Central SA. Presented by Olebogeng Motse.
When to file for business rescue
With many businesses hard hit by the lockdown, Nonhlanhla Mtshali, Attorney and founder of The Legal Affair, discusses business rescue. She mentions some of the benefits of business rescue for businesses and what the best time is to file for business rescue.
Benefits of joining a business chamber
Rose Nkhasi, president of the Free State Goldfields Chamber of Business, joins the business hour to discuss how things have improved at the Welkom municipality. She also shares some of the benefits of being part of the Goldfields Chamber of Business. As a chamber they also have some exciting projects…
Unexpected tax relief for expatriates
South African expatriates who were unable to leave South Africa on account of the lockdown will be relieved to learn that the requirements of the foreign employment exemption will be relaxed. Jean du Toit, Head of Tax Technical at Tax Consulting South Africa, says that it is unclear what made…
Buyers market for property investors
There’s been lots of discussion in the news recently around the increase in South African’s applying for home loans and the surprising spike in the COVID-19 housing market, but what impact does this have on the national repo rate? Grant Smee, Managing Director of Only Realty, answers this question and…
Emigration: Amendment to retirement fund withdrawals
Jean du Toit, Head of Tax Technical at Tax Consulting SA, explains how the governments plan to change the process to access your retirement funds upon emigration will affect you. He discusses the proposed change and when this proposed amendment might be implemented.
Jail time for lying on your CV
The National Qualifications Framework Amendment Act makes it is illegal for employees (or anyone else) to lie about their qualifications on their CV. It is a law from 2019. Nonhlanhla Mtshali, Attorney and founder of The Legal Affair, shared why it is so important for employees or prospective employees as…
E-commerce creating new opportunities
Years ago, in South Africa, the total retail sales via ecommerce hovered around R2 billion. This year, the estimated total online retail sales is close to R14 billion – a phenomenal 700 percent increase. Jake Willis, CEO and co-Founder of Lula-way, discusses some exciting opportunities that are starting to emerge…
Credit rehabilitation and buying a home
South Africa’s debt and affordability levels continue to surge, but thanks to a prolonged buyer’s market with the lowest interest rates experienced in half a century, consumers have their sights firmly set on the residential property market. Natasha Champion, regional sales manager of Ooba Home Loans, tells us how you…
Corruption threatens the South African economy
Today we saw Cosatu and Saftu, who collectively represent close to three million workers, embark on a national strike against corruption and unemployment. Jacques van Wyk, from JGL Forensic Services, discusses the effectiveness of such an action and also the effect of corruption on the South African economy and the…
SA in depressie sowel as tegniese resessie
Suid-Afrika het 2020 met ‘n tegniese resessie begin en het tyden Covid-19 ‘n depressie binnegegaan. Om beter te verstaan wat ‘n tegniese resessie is en hoe ‘n land uit een kan kom, luister hier na wat ekonoom, Renier van Zyl van die Efficient Group alles te sê het.
Celebrate World Food Day
World Food Day promotes global awareness and action for those who suffer from hunger and for the need to ensure healthy diets for all. The Food and Agriculture Organization (FAO) designated 16 October as World Food Day in 1979. Gillian Le Cordeur, CEO of The Institute of Risk Management (IRMSA)…
Petrol prices decrease by midnight
Spokeperson of the Automobile Association, Layton Bread, shares how important the October pertrol, diesel and paraffin price decreases are for consumers who are already going through a very tough time financially. He also explains the various taxes linked to the petrol price.
Sakekamer reg vir skattejag
Die Potchefstroom Sakekamer se president, Jonathan Baron, gee vir ons terugvoer oor verskeie projekte wat hulle of al afgehandel het of tans mee besig is. As sakekamer het hulle ook baie beplan vir die res van die jaar, as jy meer wil uitvind oor hulle webinare en projekte, luister na…
Understanding intellectual property
When you look at intellectual property, there are four main types that exist, this according to attorney and founder of The Legal Affair, Nonhlanhla Mtshali. She discusses the importance of intellectual property and also how to register your ideas.
SMMEs struggling in Bloemfontein
Small business in Mangaung are still struggling even though the country has moved to level 1 of the national lockdown. Nancy de Sousa, president of the Mangaung Chamber of Commerce and Industry, feels that this moved happened to late to help businesses, who are now without the necessary cash flow…
Employment fell by 2.2 million
South Africa's unemployment rate fell to 23.3% in the second quarter of 2020 from 30.1% in the previous period. It was the lowest jobless rate since the second quarter of 2009, as the country's strict lockdown distorted labour force numbers with fewer people actively looking for employment. Jaco Spies, Labour…
The time to build is now
One would be hard pressed to find a more attractive investment opportunity than purpose-built student accommodation. TSK Bartlett’s, Managing Director, Keegan Bartlett says that while property developers and construction firms rush to meet the demand, there is still a chronic shortage of accommodation.
Dienslewering steeds ‘n probleem in Emfuleni
Dienslewering is steeds ‘n probleem in die Emfuleni distrik en ons gesels met Klippies Kritzinger die president van die “Golden Triangle Chamber of Commerce”. Hy deel ook hoe belangrik dit vir sakekamers is om ‘n goeie verhouding met hulle betrokke munisipaliteite te handhaaf en gereeld met hulle in samesprekings betrokke…
Tipping without physical cash
Nico Koupis, Business Owner in Bloemfontein, shares his “Tip n Pay” system to tip when you just don’t have cash on you. He explains how the system works and also gives some tips to young entrepreneurs.
Reputational risk of social media
A recent tweet made by a director of Cricket South Africa relating to a cancelled sponsorship highlights an issue for South African boards: the risk represented by social media. Social media platforms have become a key communications channel, but they pose particular risks for organisations and especially their directors, says…