July Letter from our CEO

Six months of the year have passed, and many companies have only really traded for three. Globally, the Covid 19 pandemic is gaining pace and is "not even close to being over", according to the World Health Organisation. I have no idea about what is true and what is not true about the spread of the virus, the surfaces and time it lives on the real spread methods. What I do know it is here and people are getting extremely ill and at this stage and about 1,8% of those infected die. What I know (think) is that although we have in the region of 216 000 (at time of writing) infections a far, far larger percentage of the population have/are losing their employment, their businesses and their life possessions. As the locked-down economy probably suffered its worst contraction in living memory, the JSE's all share index rocketed by more than 26% over the three months to end-June - its strongest quarterly rally in 19 years, according to Sanlam Private Wealth's Nick Kunze. So, all is not just doom and gloom. These facts put business's in a precarious situation of survival. Davie Roodt the respected economist, said that today our economy is back to 1981 but with 2020 prices and 2020 salary expectations. The TERS/UIF benefit for April, May and June 2020 was a small form of relief has been a blessing to those that received the benefit, without this many more would be unemployed. It's time again to look at your WSP/ATR and Employment Equity if your turnover has dropped you need to deregister to save money, please see our explanation below, we can do this for you. These are statutory requirements with big fines for non-compliance. Many companies have ownership trusts in place - is your trust compliance up to date or are you fronting? Please see the article below. Take a realistic look at your business and decide how best to survive what is looking like a protracted shutdown. 2020 is a year of survival and nothing else. Companies that survive this period will live to fight another day. There is still business out there, it is a case of going out to find it because it's probably not going to land in your lap. Use a professional for any downsizing of staff, and as an employee know your rights. If your premises are open, practise good sanitation, social distancing and Covid protocols you do not want to become infected! See our app below to help ease your Covid Paper trail. We are all in this together, but together we will be stronger. Do not lose heart. To all our readers, thank you for your regular mails, calls and support. We all appreciate it more than you will ever know.  It's great to be contacted, I know how lonely it is as a business owner. Wash your hands, observe the Covid 19 protocols and please stay safe.

Yours sincerely,

Hilton Johnson

CEO I Compliance Hub Consulting (Pty) Ltd

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