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Are You The 2018 Veuve Clicquot Elle Boss? Calling All South African Businesswomen, Applications Now Open

Are you the next #VeuveClicquotELLEBOSS?

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If you’re a powerhouse South African businesswoman, or know someone who is, the 2018 Veuve Clicquot ELLE Boss Award is now open. Showcasing entrepreneurial spirit, leadership, creativity and determination, the search is on for one woman who is redefining the world of business one decision at a time. Are you the next #VeuveClicquotELLEBOSS?

What makes a #VeuveClicquotELLEBOSS?

  • A natural leader in business
  • Entrepreneurial and creative
  • Business-minded and confident
  • Self-driven
  • Social media savvy
  • Risk-taker
  • Financially adept
  • Innovative

She’s a star in business …

“The world is in perpetual motion, and we must invent things of tomorrow. One must go before others, be determined and exacting, and let your intelligence direct your life. Act with audacity,” – Madame Clicquot, Veuve Clicquot.

How to enter?

For the Nomination Process, please take note of the Nomination Criteria below.

Women matching the criteria in the ENTREPRENEUR or CORPORATE category can either self-nominate, with a mentor or manager seconding their application. Or they can be nominated, however they will need to consent to the nomination.

Why enter?

A Veuve Clicquot ELLE Boss 2018 winner will be selected from all finalists for both the corporate and entrepreneurial categories. There will be one overall winner from these two categories.

They will be recognised at a bespoke event hosted by ELLE South Africa and Veuve Clicquot in Johannesburg on the 18th of October 2018.

In addition to the public recognition on the evening of the awards, the general press coverage, the winner will also receive one-on-one mentoring during a two-hour session with powerhouse business mogul Khanyi Dhlomo to ask personal, career and development questions. As well as features in ELLE South Africa (magazine and online /digital platforms), the winner will be flown to visit the prestigious Veuve Clicquot Maison and hosted by Veuve Clicquot in Reims, France, the home of Champagne. The trip will take place in 2019 and will include all flights, accommodation and a daily allowance.

The runner-up will receive a special Veuve Clicquot Experience, including a private dinner for her and five guests, to relax and unwind, to savour the recognition of her meaningful achievement to date as a Woman in Business (Terms & Conditions apply).


Four further runners-up will each receive a Magnum bottle of Veuve Clicquot. All finalists will be invited to attend the Veuve Clicquot ELLE Boss Awards event on 18 October in Johannesburg. Finalists must fly themselves if they do not live in Johannesburg and be responsible for their own accommodation.

Related: 30 Top Influential SA Business Leaders


All You Need To Know About The Elle Boss Award

elle-boss-competition

The Veuve Clicquot ELLE Boss Award has been created to showcase entrepreneurial spirit, leadership, creativity and determination and the search is now on for one woman who is redefining the world of business one decision at a time.

Using this powerful platform, and for the fourth year, Veuve Clicquot and  ELLE magazine set out to celebrate women who have been in business for at least three years – women already demonstrating clear signs of success, and/or, exceptional corporate managerial skills and a social conscience.

“The pillars of Ndalo Media can be summed up in two words: positivity and impact. This is why we’re thrilled to start a new search, in collaboration with our international partner, Veuve Clicquot, for the woman whose leadership qualities are resonant with the values of leadership that Ndalo Media has become known for celebrating and espousing,” says Khanyi Dhlomo, founder and CEO of Ndalo Media and ELLE publisher.

“The current Veuve Clicquot ELLE Boss, Amanda Dambuza, is a woman who embodies what it means to be a leader. Running a project management services company, Uyandiswa, which has scores of employees and makes a staggering annual turnover, and also mentoring girls through her social enterprise network, Dambuza demonstrates the qualities we’re looking for in the next Veuve Clicquot ELLE Boss,” Dhlomo adds.

“While every year, ultimately, one woman walks away with this prestigious award, this initiative is far-reaching in its impact. The women who make it onto the finalists’ list are truly impressive in their achievements and are worthy of admiration and honour. They are industry leaders, philanthropists, activists and entrepreneurs who are building leadership legacies that cultivate a culture of inspired positive impact. And so, we’re thrilled to launch the 2018 Veuve Clicquot ELLE Boss awards, which we see as a platform to establish formidable networks of outstanding women leaders; celebrate women who uplift and inspire others; and create new mentorship opportunities with a judging panel of highly esteemed women leaders.”

A Veuve Clicquot ELLE Boss is a natural leader in business, she is confident, strong and committed – a risk taker that is not afraid to think out of the box and ask for what she wants. In South Africa, where new research reveals that the percentage of women in senior management positions now is down from 23% last year*, gender empowerment in business is a top priority and ELLE and Veuve Clicquot want to challenge the status quo by recognising, rewarding and giving women the acknowledgement they deserve.

With both entrepreneurial and corporate categories, businesswomen all over South Africa are encouraged to enter now.

Why the partnership with Veuve Clicquot’s Business Woman Award?

“Veuve Clicquot is a proud supporter of women in business internationally, honouring our founder Madame Clicquot, who established herself as one of the first leading female figures in the world of business. Our prestigious Veuve Clicquot Business Woman Award seeks to identify and celebrate outstanding women and honour their entrepreneurial spirit. We are therefore extremely proud to partner with ELLE magazine in South Africa to present the Veuve Clicquot ELLE Boss Award. This award champions the success of South African business women who share the same inspirational qualities as Madame Clicquot: an enterprising spirit, creativity, courage, determination and, of course, success”, says Pascal Asin, Moët Hennessy Managing Director Africa and Middle East.

Who are the 2018 Veuve Clicquot ELLE Boss judges?

Judges will include Khanyi Dhlomo, Founder and CEO of Ndalo Media and ELLE publisher and Aimee Kellen, Regional Marketing Manager Moët Hennessy, with further judges selected from a wide range of women in leadership from various industries.

How are South African businesswomen able to enter?

Women matching the criteria in the ENTREPRENEUR or CORPORATE category could either self-nominate, with a mentor or manager seconding their application. Or they could be nominated, however they will need to consent to the nomination. 

What does the winning 2018 Veuve Clicquot ELLE Boss receive?

A Veuve Clicquot ELLE BOSS 2018 winner will be selected from all finalists from both the corporate and entrepreneurial categories. There will be one overall winner from either the corporate or entrepreneurial category.

They will be recognised at a bespoke event hosted by ELLE South Africa and Veuve Clicquot in Johannesburg on the 18th of October 2018.

In addition to the public recognition on the evening of the awards, the general press coverage, the winner will also receive one-on-one mentoring during a two-hour session with powerhouse business moghul Khanyi Dhlomo to ask personal, career and development questions.  As well as features in ELLE South Africa (magazine and online /digital platforms), the winner will be flown to visit the prestigious Veuve Clicquot Maison and hosted by Veuve Clicquot in Reims, France, the home of Champagne. The trip will take place in 2019 and will include all flights, accommodation and a daily allowance.

The runner-up will receive a special Veuve Clicquot Experience, including a private dinner for her and five guests, to relax and unwind, to savour the recognition of her meaningful achievement to date as a Woman in Business (Terms & Conditions apply).

Four further runners-up will receive a Magnum of Veuve Clicquot.

Related: 13 Female Entrepreneurs Rising To The Top In SA

What are the nomination criteria:

ENTREPRENEUR Category:

  • Age: Not younger than 25 and not older than 45 years of age.
  • Entrepreneurship: Founder/leader of a local business, driving force behind the success of the business. Displays a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity.
  • Financial Success: Sustained profitable growth and a healthy balance sheet with a minimum turnover of R1 million. The applicant must have been in business for a minimum of three years. She is the main shareholder of this business. Not for Profit organisations will be considered, however their justification on financial performance and development will be required. Fundamental measures of success are financial viability and year-on-year growth.
  • Social Investment: The candidate must have a genuine commitment to responsible and sustainable business practices, such as environmental policies, employee benefits, workforce diversity and community schemes/relationships.
  • Role Model: Mentoring, succession planning, pushing boundaries, ability to motivate others, relationship building with colleagues/employees, especially for other women.
  • Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  • Awards or recognition as a significant achiever: The candidate must show that she has personal brand strength.

CORPORATE Category:

  1. Age: Not younger than 25 and not older than 45 years of age.
  2. The candidate must work for a company with a minimum turnover of R15 million per annum.
  3. Management experience: The candidate should have no less than three years in a senior position and the entry must confirm the candidate’s advancement in business to date and chronicle success as a manager to date. The candidate should display a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity. She should also demonstrate leadership and team building skills.
  4. Role Model: The candidate will be assessed with regards to her contribution to mentoring, succession planning, pushing boundaries, and her ability to motivate others, relationship building with colleagues/employees and especially for other women.
  5. Social Leadership: Displays qualities of leading by example in any corporate CSI initiatives, public service.
  6. Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  7. Will need to demonstrate the success of their brand business personality through awards or recognition as a significant achiever.

Note: Importantly, the candidate is not an employer, major shareholder or owner of a business.

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Entrepreneur Today

3 Stealthy Tax Hikes Payroll Managers And Employees Need To Take Note Of

By Rob Cooper, tax expert at Sage, and chairman of the Payroll Authors Group of South Africa

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“Dammed if you do and dammed if you don’t.” 

The adage summarises the difficult decisions government and the Finance Minister faced when balancing the country’s books, rescuing state-owned enterprises, and reviving the growth of our economy. Given the economic pressure that most taxpayers are facing, government ideally needed to achieve all of that without direct increases to personal income tax in the most recent Budget Speech.

Personal income tax has comprised at least a third of South Africa’s total tax revenue in recent tax years, despite growing unemployment. The 2019 Budget, presented in February, forecasts that personal income tax will account for nearly 39% of tax collected during the upcoming (2019/20) tax year. Given that we are in an election year and that the tax base is fragile, it’s not surprising that the Finance Minister and the National Treasury avoided direct increases to the statutory tax tables used to calculate PAYE for employees in the budget.

Nonetheless, government has made inflation work in its favour to impose some tax increases by stealth. Here are three ways government is raising more revenue without direct tax increases:

1. Bracket creep

The statutory tax tables used by payrolls and employers have not been changed for 2019/20, nor have the brackets been adjusted for inflation. This effectively amounts to an indirect tax increase that will yield a revenue saving of approximately R12.8 billion for government’s coffers.

It is not unusual for government to use ‘bracket creep’ to effectively raise more revenue. But unlike previous tax years, even low- and middle-income earners are not getting much relief. Rebates and the tax threshold are being increased by small amounts to allow some relief, but many people this year will feel the pain as inflationary salary increases push them into a higher tax bracket.

2. Medical aid credit not adjusted for inflation 

As proposed in the 2018 Budget, the Finance Minister did not apply an inflationary increase to the Medical Tax Credit, which allowed him to raise an extra R1 billion in revenue for the year. Surprisingly, these funds will be allocated to general tax revenue rather than ring-fenced for healthcare. In previous tax years, revenue generated from below-inflation increases on medical scheme credits was used to fund National Health Insurance (NHI) pilot projects.

There is still no clarity on how the NHI is going to be funded except for a general statement that the funding model is a problem for the National Treasury to solve, and that the principles of cross-subsidisation will apply. One wonders if any real progress will be made soon, given the fiscal constraints government faces.

3. Business travel deduction left untouched

The Budget leaves the per-kilometre cost rates used to determine tax deductions for business travel untouched. By not increasing travel rates to account for inflation, government effectively increases income tax collection at the cost of the taxpayer. This will be a blow for people who need to claim from their employers for business travel in their personal vehicles. This change has slipped through largely unnoticed and the budget does not provide numbers for the expected increase in tax revenue.

Closing words

Amid political turmoil and uncertainty, the Finance Minister presented a balanced budget for 2019/20 that offers hope for the future along with some tough love. With government taking steps to accelerate economic growth and improve revenue collection, we should hopefully see a steady improvement in government finances, which will translate into less pressure on the taxpayer in future years.

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Entrepreneur Today

SMEs: Staying On The Right Side Of The Taxman

Remaining SARS compliant can be a constant challenge for small- to medium-enterprises (SMEs), especially when they are trying to focus on growing their businesses and streamlining their operations.

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EasyBiz Managing Director, Gary Epstein, says submitting taxes can be a seamless process that does not have to take up more time than is necessary. “If business owners understand what is required of them and they put a few processes into place to deal with their tax submissions properly, their lives will be so much easier.”

What are the top three considerations for SMEs when submitting tax returns?

“Firstly,” says Epstein, “SARS returns must be accurate and submitted in terms of the relevant Act. Secondly, returns should be submitted and paid on time to avoid unnecessary penalties and interest, and thirdly, business owners must follow up on queries issued by SARS. “Do not ignore these queries, act on them as soon as possible”.

What are the major SARS submission deadlines for SMEs?

Epstein points out that small business owners need to adhere to various tax deadlines, each with their own particular dates for submission. “It is important that business owners diarise the dates (and set advance reminders for themselves) and/or enlist the services of an accountant or financial adviser to help them keep abreast of requirements.”

Value-added tax (VAT)

VAT payments need to be submitted in the VAT period allocated to the business, according to various categories and ending on the last day of a calendar month. This may mean making payments once a month, once every two months, once every six months or annually, depending on the category.

Provisional taxes

Provisional tax should be submitted at the end of August (first provisional) and at the end of February (second provisional) – for February year-end companies.

Employee taxes

In addition to submitting an annual reconciliation (EMP501) for the period 1 March to end of February for Pay-As-You-Earn (PAYE), Skills Development Levy (SDL) and Unemployment Insurance Fund (UIF), employee tax, in the form of an EMP201 return, needs to be submitted by the seventh of every month.

When can SMEs get extensions and is it worth it?

Epstein says SMEs can apply for various extensions, but these are subject to the Income Tax Act and Tax Administration Act.

“It is best for SMEs to consult their tax professionals to get advice regarding extensions for their businesses.”

What is SARS not flexible about?

SARS is not flexible when it comes to late returns and late payments.

“I cannot stress enough how important it is for SME owners to ensure their tax returns are submitted on time. In this way, they will avoid the inconvenience and expense of additional fines and interest,” notes Epstein.

What skills do SMEs need in their organisations to be able to submit to SARS efficiently?

Business owners often don’t have the time or expertise to deal with tax submissions throughout the year. If the business cannot afford to employ a full-time accountant or financial services expert, it would do well to outsource its tax requirements to a registered tax practitioner.

“I would recommend that even if they are not submitting the tax returns themselves, business owners should have a broad understanding of the tax regulations and what is expected of them. There is a lot of helpful information on the various Acts and tax requirements on SARS’ website,” says Epstein.

How does the right software help SMEs remain SARS compliant?

SME’s (and their accountants’) jobs can be made easier by using reliable accounting software to calculate accurate VAT reports. These reports are only as accurate as the data entered into them, which means care needs to be taken when inputting data into the accounting programme. Epstein says a good accounting software package must be reliable, easy to use and functional.

“SMEs need to check that the software has thorough reporting capabilities and can interface with other software solutions. Of course, it is also important to find out whether the software is locally supported by the vendor or not.”

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Entrepreneur Today

4 Dangers Of Business Under-insurance

A common short-term insurance peril that many SMEs face when submitting a claim following an insured event is the risk of being underinsured.

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Malesela Maupa, Head of Products and Insurer Relationships at FNB Insurance Brokers says, many small business owners mistakenly believe that by merely having a short-term insurance policy in place they are adequately protected against unforeseen events.

“This is technically correct provided that the business is covered for the full replacement value of the items insured. However, in circumstances where the sum insured does not cover the full replacement value or material loss of the item insured, the business is underinsured,” explains Maupa, as he unpacks the dangers of business underinsurance:

1. Financial loss

The most common risk is financial loss on the part of the business. If the business is underinsured or the indemnity period understated, the short-term insurance policy will only pay out the sum insured for the stated indemnity period as stated in the schedule, with the business owner having to provide for the shortfall. This often leads to cash flow challenges, impacting profit margins or rendering it difficult for the business to recover following the financial loss.

2. Reputational damage

Should an underinsured business not have sufficient funds to replace a key business activity or critical component following a loss, this may impact its ability to fulfil its contractual obligations, leading to a loss of business or market share, and irreparable reputational damage in the worst-case scenario.

3. Legal action

A small business also faces the risk of customers or clients taking legal action against it, should it fail to deliver on goods and services following a loss or be unable to honour its financial commitments that they committed to prior to the loss.

4. Survival of the business

A catastrophic event such as fire, which could result in the loss of stock or company equipment and documentation, could threaten the survival of a small business that is not yet fully established, if the business assets are not adequately insured.

Working with an experienced short-term insurance broker or insurer is essential when taking up short-term insurance to ensure that business contents are covered for their full replacement value.

Furthermore, depending on the nature of the business or item insured, the policy should be reviewed on a regular basis to avoid underinsurance as the value of items often change overtime due to fluctuations in economic activity. Where it’s necessary, evaluation certificates need to be kept up to date.

“Lastly, SMEs should ensure that the sum insured does not exceed the replacement value, which would lead to over insurance. Should a business submit a claim following a loss, the insurer would only pay out the replacement value, regardless of the higher sum insured,” concludes Maupa.

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