Competition in business is, unfortunately, a daily struggle. The best businesses set the pace and aren't afraid to venture into a different direction as their competition. How do you and your company respond to competition? Are you leaders, differentiators or late adopters of tried and tested trends?
The ‘green agenda’ has moved to the forefront of the modern business world. Society is experiencing an increasing shift in focus to sustainable business and environmental responsibility.
For businesses, embracing sustainability includes encouraging active preservation of the environment and communities, while also promising attractive cost savings. Many companies have made considerable savings through implementing sustainability programmes across their value chains.
The ‘war on talent’ seems to be raging on. Large businesses are competing to recruit the best graduates straight from university and many companies are prepared to pay well for the most experienced and proficient candidates. As a result, all businesses need to manage and retain the talent they already have.
Talent management is often considered to be a Human Resources (HR) matter, but the management team in any business should be involved in managing the company’s most valuable resource – its people. Start by identifying the high potential people in the company and work towards developing them and retaining them in the business.
Over the past two years or so there have been a number of developments in the Black Economic Empowerment (BEE) regulatory landscape in South Africa. These include legislative amendments to the Broad-Based Black Economic Empowerment Act (BBBEE Act) in 2014, changes to the BBBEE codes in 2015 and more recently, regulations being issued in terms of the BBBEE Act in June 2016. All of these developments may require businesses in South Africa to review structures previously implemented to comply with the requirements at the time or to design structures to be implemented in order to comply with the current regulatory environment.
Transactions to introduce or amend structures to comply with BBBEE requirements are likely to have tax implications. This is evidenced by a number of advance tax rulings having been issued by SARS in respect of transactions entered into for BEE purposes.