As one of our 168 083 valued Compliance Hub Newsflash readers, we thank you for taking the time to read our mails, where you are given information hot off the press that pertains to both the ever changing and challenging obstacles we face as business owners with Compliance in South Africa.
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This mail is not a sales pitch, but rather a mail to keep executives informed on what is happening in our specialized fields.
We are well into Q1 of 2021 and Stats SA has just published their latest stats compared to the third quarter of 2020.
While we can all focus on the 7.2 million new working age unemployed people in SA few take note of the following:
FORMAL SECTOR employment increased by 189000, PRIVATE HOUSEHOLD EMPLOYMENT increased by 76000, Employment increased in all industries except FINANCE AND MINING. The two biggest employment sectors were CONSTRUCTION (+86000) and SOCIAL SERVICES (+ 170 000)
Nine out of ten graduates in employment earned their full salary during lock down and compared to 81% of those employees with less than matric as their highest education level.
While we are far from being out of the devastation that the pandemic has caused, this does give a glimmer of hope for us all. As a business community we need to be flexible and focus on what is within our realm of control.
South Africa’s economy is expected to rebound in 2021 and 2022 after the dire impact of COVID-19. If this indeed is a true result, are you geared to be part of this growth, and do you have all the measures in place to take advantage of opportunity? I am of course referring to a well rated BEE Certificate. It is the new motor that drives opportunities for companies to do business with you.
Do not ignore it – it is not going away. If you are not happy with your rating lets analyse it and come up with a workable plan for your company.
IMPORTANT DATES TO DIARIZE:
WSP / ATR the deadline for companies to submit their annual Workplace Skills Plan (WSP) and Annual Training Reports (ATR) falls on 30 April 2021. Companies are required to submit these documents as evidence to obtain their Skills Development points on their B-BBEE scorecard. IMPORTANTLY, if a letter of acceptance by the relevant SETA is not obtained, you will score 0 under the Skills Development element and stand to drop a level too.
CIPC Submissions - Companies are required to file Annual Returns within 30 business days after the anniversary date of its incorporation. Close corporations are required to file Annual Returns within the anniversary month of its incorporation up until the month thereafter.
I hope to hear from you.
CEO – Compliance Hub