The feature focused on what Finance Minister Nhlanhla Nene’s budget for 2015 would do for businesses. Although the smallest small businesses have been given generous leeway this year, with businesses making less than R1 million feeling some relief, it was disappointing not to see the same relief granted to small businesses who make more than that amount.
Other than the change in tax brackets businesses have not been affected by Budget changes. While it was suspected that VAT would be increased, there is no such thing as yet. However, the electricity problem in South Africa is hampering small and big businesses, so it remains to be seen whether start-ups will be able to survive despite the government’s contribution to skills development.
Read the full piece here.