Although this article covers what President Obama and America are doing for small business, I thought I'd post it as small businesses form the backbone of any economy...These points are valid in South Africa as our small businesses are so important to our economy....
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South African Economy
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Cape Town – MPs considering the tax changes proposed by Finance Minister Pravin Gordhan in his February budget heard that some proposals will hurt small businesses, because the new rules will discourage private lenders from putting money into them.
The news that ESCOM will increase 24.8% this year, 25.8% in 2011 and 25.9% in 2012. What does this actually mean?
For every R1 of electricity you spend today, after the three hikes you will spend R1.98 in 2012, that mean basically that your electricity bill will be doubled.
The good part is that is it not 35%, the increase per annum that Escom was looking for.
According to Nersa (National Energy Regulator) that approved the increase, the effect on inflation will be less than 1.5% per annum.
Pravan Gordham first budget was a difficult one and although he had not much to play with he did give some relief for the man in the street. Here is the things he did not say but that will have an effect on everybody: