As the famous opening lines of Charles Dickens’ novel said: It was the best of times, it was the worst of times.
Those words could not ring more true...
When President Cyril Ramaphosa announced a three-week lockdown with severe restrictions on travel and movement. He also announced the actions Government would be taking to assist businesses during this difficult time, the Department of Small Business Development launched a debt relief fund to help mitigate the impact of the economic shutdown caused by the corona-virus on small, micro and medium enterprises (SMMEs).
Here is a link to a business article giving more background on the matter. Click here.
And here are some important things you need to know.
Small Business Development Fund – SMMESA
This is where SMME’s who are directly affected by the COVID-19 outbreak can apply for relief from the fund. Currently though this is only available to a select group of SMME’s providing certain “Goods” required currently by the Government. There are also certain stipulations in place in order to be eligible to submit an application.
However, during the time of writing this their website still seems to be under maintenance. You can try their link by checking out their website: https://smmesa.gov.za/
Unemployment Insurance Fund (UIF) – Reduced work time (short term shut down)
Relief has also been made available for employees who are forced to take unpaid leave during the Country’s Lockdown. This relief is specifically for those who will not receive pay during this period as they do not have leave available to take or will be only receiving part payment of their normal remuneration.
The Guide here is attached for information purposes.
At times like this it’s always best to chat to a professional about the options available to you.
Contact Liedon if you need advice or want to know if you are eligible to claim for these relief benefits.
☎️Tel: (043) 726-3673