It begins with a step

March 2022
There is a Chinese proverb that says, “A journey of a thousand miles begins with a single step”, reminding us that we all must start somewhere. The entrepreneurial journey is known to be a difficult and often a treacherous one, but the reward lies in the small gains which are made daily. At Barloworld Siyakhula, we pride ourselves in our ability to “back the right horse” as is evident with the Small, Medium and Micro Enterprises that we have supported and are thriving. As we prepare for 2022, we reflect on some of the insights and upcoming trends. In highlighting the latest Business Sustainability trend which is driving Business, Environmental, Social and Governance (ESG), our chairperson will take us along a journey to edify our understanding on the importance of the link between Enterprise Supplier Development (ESD) and ESG, in relation to Siyakhula’s business investments. During these perilous times, which have seen many businesses shut their doors, the article titled Weathering the Storm, delves into the different methods entrepreneurs can adopt to cope with the pressures of operating businesses in unprecedented times. We pause to note and highlight this year’s State of the Nation Address (SONA) delivered by President Cyril Ramaphosa. This year’s SONA saw the President unequivocally proclaim the role of business, in his view, as being that of a “job creator”, further highlighting that government must “create an enabling environment for both big and small businesses to emerge, grow, access new markets, create new products and hire more employees”. Considering these statements, all businesses waited with bated breath for Finance Minister Enoch Godongwana’s maiden Budget Speech, in support of the President’s statement. In instructing a team to look at the “red tape” or to reduce the regulatory burden on businesses, the President asserted his position on creating an enabling environment for businesses. He also announced a new loan scheme to directly assist small businesses that have been affected by the pandemic and those affected by July’s civil unrest. In his Budget Speech, Minister Godongwana announced a 1% reduction in corporate income tax, from 28% to 27% for companies with a year ending on 31 March 2023 and beyond. This will surely give businesses the much-needed relief. As we move forward to significant dates in the South African calendar, such as Human Rights Day and later Freedom Day, we take a moment to catch our breath and remember that “the journey of a thousand miles begins with a single step”. I would further like to thank our SMMEs, followers and Barloworld Associates for the continued support. This is our 3rd Issue, and we are truly gaining momentum. Yours sincerely, Prudence Back to previous page