Blog
As a business owner, you may already be familiar with the concept of a credit score. In much the same way as your personal credit score reflects your creditworthiness as an individual, your business credit score provides an indication of how creditworthy your company is. In South Africa, business credit scores are used by lenders, suppliers, and other business partners to assess the financial health and reliability of your business. Let’s dig a little bit [...]
Blog
As a business owner or employer in South Africa, the onus is on you to be aware of the importance of complying with the Protection of Personal Information Act (POPIA). The POPI Act aims to protect South African citizens' privacy and personal information, making it crucial that your credit application form is POPIA-compliant. In this article, we will delve deeper into why having a POPIA-compliant credit application form is vital for your business's success and [...]
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When it comes to running a business, maintaining a good credit score is essential. A company's credit score not only affects its ability to secure funding but also impacts its reputation and future prospects. But with so many credit bureaus and scoring models available, which company credit score is the best? There is a full list of active credit bureaus in South Africa, with each of them collecting and evaluating data on businesses' credit history [...]
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In South Africa, the debt recovery process for businesses relies on both the sum and the character of the outstanding debts. The National Credit Advisor (NCA) provides information on the National Credit Act (NCA) and the National Credit Regulator (NCR) and has very strict guidelines in terms of how businesses can recover their debts, with specific steps that need to be taken in a specific order. We’re looking at these business debt recovery procedures below: [...]
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South Africa was, generally speaking, already navigating through a torrid economic environment before the COVID-19 outbreak was declared a global pandemic. The “Corona crisis” has just been made whole lot more interesting when coupled with the fact that South Africa has been downgraded by all remaining ratings agencies to junk status when you add these elements to the fact that we were already battling electricity generation problems and the fact that when we went into [...]
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It is said that when we look at things in different way that we can change our entire perception, and yes, they are right. Take for instance, if we simply accept uncertainty it then becomes an adventure and no longer uncertainty. Accepting the good in others suddenly changes envy to inspiration. In the same way as accepting what is beyond our control changes anger to tolerance. So why not look at credit limits and management [...]
