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Tsogo Sun’s Entrepreneur Of The Year Finalists Announced

This year’s Tsogo Sun Entrepreneur of the Year Award finalists run businesses in a range of market sectors – find out more about the winners below.

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With South Africa’s entrepreneurial activity being rated as low for a developing nation and only a quarter of that of other sub-Saharan countries, according to the Global Entrepreneurship Monitor, support for entrepreneurs by the nation’s private and public sectors is essential for economic growth.

Tsogo Sun Entrepreneurs has been committed to entrepreneurial development for more than a decade, revealing countless small business successes, providing practical support through a 12-month development programme, and recognising excellent entrepreneurial performance through the prestigious annual Tsogo Sun Entrepreneur of the Year Awards for the programme’s top performers.

This year’s Tsogo Sun Entrepreneur of the Year Award finalists run businesses in a range of market sectors, and include Carol Senosi, owner of cleaning services business, Lefa Cleaning Services in Gauteng; Nqobile Nkosi, whose business, NQ Jewellery Design, operates from Soweto; Lucille Cremen, who owns Cresco Tours in Gauteng; Zinzi Masina, owner of La Emme Guesthouse; and Meisie Nkosi, owner of Bella Bonni Guesthouse, both situated in eMalahleni in Mpumalanga.

Nqobile Nkosi, Tumi Manong, Rebone Sesoke, Meisie Nkosi, Zinzi Masina, Candy Tothill, Lucille Cremen, Hayley Moore and Carol Senosi

Nqobile Nkosi, Tumi Manong, Rebone Sesoke, Meisie Nkosi, Zinzi Masina, Candy Tothill, Lucille Cremen, Hayley Moore and Carol Senosi

Related: The Most Powerful Advice Entrepreneurs Ignore

Says Marcel von Aulock, Tsogo Sun CEO, “To meet the national requirements for job creation in South Africa, we need to cultivate an environment that is conducive to establishing and developing small businesses. Tsogo Sun contributes towards this social and economic imperative through our empowerment programmes such as the Tsogo Sun Entrepreneurs, which assists emerging enterprises to grow and thrive so that they can become active participants in the economy.”

He adds that the Tsogo Sun Entrepreneurs programme forms part of the group’s sustainability and growth strategy, with particular emphasis on delivering value to small and medium sized businesses in the communities where Tsogo Sun is present.

“The programme harnesses decades of our group’s experience and expertise and makes this available to entrepreneurs in all industries across the country to support them in their efforts to become successful. Over the years, the programme has become an important part of our supply chain and many of the registered entrepreneurs have become suppliers to the group.”

Entries to the 2016 Tsogo Sun Entrepreneur of the Year Award were open to 152 Tsogo Sun Entrepreneurs who have benefitted or are benefitting from the 12-month development programme.  Says Candy Tothill, Tsogo Sun’s GM of Corporate Affairs, “Entrants were required to complete a comprehensive entry form to be considered for the Awards.

“These were shortlisted using a stringent evaluation method that included assessing performance in the programme, financial performance, customer knowledge, marketing, innovation efforts, job creation, contributions to the greater community, potential for growth, and overall sustainability.”

Related: 7 Steps To Launching Your Own Business

The finalists will be interviewed by a panel of nine judges, who include Tsogo Sun executives, change agents, thought leaders, and past Entrepreneur of the Year winners. The 2016 Judges are: Marcel von Aulock, CEO of Tsogo Sun; Vusi Dlamini, Group HR Director of Tsogo Sun; Laurelle McDonald, Corporate Finance Manager of Tsogo Sun; Ravi Nadasen, Tsogo Sun Operations Director; Ella Bella Leite, Founder of Generation Earth; Adriaan Groenewald, CEO and Co-founder of Leadership Platform; Carol Sanderson, 2014 winner and owner of Casambo Exclusive Guest Lodge; Emmah Makatu, 2013 winner and owner of Zwinoni Lodge; and Salome Tshungu, 2012 winner and owner of The Orchards.

TS Entrepreneurs - finalists, left to right Meisie Nkosi, Zinzi Masina, Lucille Cremen, Carol Senosi and Nqobile

TS Entrepreneurs – finalists, left to right Meisie Nkosi, Zinzi Masina, Lucille Cremen, Carol Senosi and Nqobile

Adriaan Groenewald, judge and CEO and Co-founder of Leadership Platform, comments, “Growing new entrepreneurs is one of the greatest ways to empower individuals. It is the best way for us to grow the SA economy. We all know this, but do we all actually do something about it? Tsogo Sun does. I have personally interviewed several Tsogo Sun entrepreneurs and have been highly impressed by their comments on how the programme assists them. We are honoured to be involved with this initiative in some form.”

Tsogo Sun hosted the five finalists at Montecasino for a three-day leadership workshop, during which they were announced to the media on 25 August. Tothill says, “Panel interviews with the judges are being undertaken during the leadership workshop on 26 August to assess each of the finalists using a system that enables our judges to score results against the same set of criteria.  While there can be only one winner, being a finalist in these awards puts the entrepreneurs on a bright path towards an even more successful future for their businesses.”

The Tsogo Sun Entrepreneur of the Year Award winner will be announced at the Annual Awards Dinner on 20 October at the Riverside Sun, during the annual conference that will place from 18 to 21 October. At the Awards Ceremony, the Minister of Tourism, Derek Hanekom, will give the keynote address.

Prizes for the winner include R30 000 from Tsogo Sun, a business bursary from Tsheto Leadership Academy and a professional business image experience from tweak&STYLE, while also providing a platform for the winner to promote their business and contribute to the development of other SMMEs in South Africa. In addition, the winner will be the Ambassador for Tsogo Sun Entrepreneurs for the year.

Related: 9 Answers You Need About Yourself Before Starting Your Own Business

Vusi Dlamini, Tsogo Sun’s Group HR Director, says the company is proud of what Tsogo Sun Entrepreneurs is achieving. “Entrepreneurial development is critical for the growth of the South African economy, particularly in these challenging economic times. The value of the Tsogo Sun Entrepreneurs programme is immense.

“Apart from showcasing the good work that’s being done by the entrepreneurs themselves, it assists participants with skills development and exposure to the markets that Tsogo Sun serves; it helps them build self-confidence and finally, it breeds success. It is definitely an invaluable programme that empowers entrepreneurs to hold their own in the business world.”

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Bitcoin Family Of Coins – Who Will Win?

Off the back of 6 sold out live events, and after successfully hosting the biggest #Cryptocurrency event ever held in South Africa, the Matt Brown Show is holding a one-time exclusive learning and networking event in Johannesburg on Wednesday, 7 March (6pm – 8pm) we’ll be launching a deep dive series into alternative cryptocurrencies.

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The interest around cryptocurrencies, with Bitcoin being the most famous, has continued to capture headlines worldwide whilst regulators around the world are still struggling to formulate a plan to deal with it.

The Matt Brown Show #cryptokungfu is kicking off its first edition of a deep dive series will be looking at the bitcoin family of coins, what makes the coins different, their utility and the opportunities for traders and investors.

The Matt Brown Show has built a listenership and captive audience in over 100 countries around the world. #CryptoJHB was the first podcast event to trend in the #1 hashtag position on Twitter in the history of South African media.

Related: 11 Things You Need To Know About Bitcoin

The Matt Brown Show Johannesburg event taking place on Wednesday, 7 March 2018 from 18:00pm to 20:00pm, now being hosted at the Mesh Club in Rosebank will tap into THREE of the world’s leading experts for this first edition of a deep dive series focused masterclass.

The Masterclass will feature Tone Vays (via video conference) and Adam Meister from the United States, both regarded as world’s leading Bitcoin experts. Lorien Gamaroff, founder/CEO of Bankymoon, blockchain and cryptocurrency consultant will provide the local market perspective as a South African.

The masterclass has been engineered to provide a more focussed and intimate discussion on the landscape, which is one of the reasons the event was moved to the mesh club. To provide a more exclusive and engaging atmosphere for the attendees.

Matt Brown says, “these 3 experts have the uncanny ability to read the cryptocurrency market and are considered part of the top 100 most influential people in blockchain/cryptocurrency space in the world”.

“So we need to look beyond the recent surge in bitcoin investors across Africa, businesses have also started to embrace the cryptocurrency. It no longer a fad but a reality of the world we live in today” says Brown.

South Africa continues to lead the way, with businesses now starting to accept bitcoin payments.

Gamaroff says, “The global financial system is crumbling. People are seeking alternatives to fiat money. Cryptocurrencies will be their hedges against the cataclysm that is coming.”

Related: Embracing Technology For Business

“The reality is that Bitcoin is here to stay and, with many seeing a good return on their investment in cryptocurrencies, they now want to use this digital cash to invest in their future” says Brown

“Today, South Africans are using the ease of online trading to make money that they can then reinvest in a future beyond the world of forex. Which is why we continue to see the demand for events like this, being attended by a mixture of cryptocurrency enthusiasts and/or people simply interested in learning more about this space.” Concludes Brown.

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The Workspace And MiWay Announce Entrepreneur Competition

To celebrate their collaboration at Village Road, The Workspace and MiWay are launching a competition for South Africa’s entrepreneurs that will see the winner/s given a major advantage to further grow their business.

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Space solutions and coworking specialist, The Workspace, and insurance company, MiWay, recently joined forces at The Workspace’s premises in Village Road, Selby where they have launched an entrepreneurial hub and business development programme in the Johannesburg CBD.

The competition is open to entrepreneurs based in South Africa who have valid identification documents, who run a business with four or less employees and are making an impact in their industry.

“We have always believed in assisting entrepreneurs and small business owners who are members of The Workspace community in whatever way we can. This entrepreneur competition takes it to the next level, giving a voice to our belief in entrepreneurship and its ability to create jobs,” says Mari Schourie, CEO of The Workspace.

Related: 6 Resources For Start-ups Looking For Funding

Morné Stoltz, head of Business Insurance at MiWay, says both companies are committed to upliftment initiatives and economic development. “The entrepreneur competition is a call to action to those vibrant entrepreneurs out there. Start-ups always need a bit of a hand-up and the winner of this one will have a serious advantage once the competition has gone through its paces,” he said.

Schourie and Stoltz agree they’re looking for an entrepreneur who has reinvented the way business is done in his/her industry. “Someone who has been innovative in the product or service being offered to the market,” says Schourie.

“We are looking for an entrepreneur who has or is busy creating a special environment where employees can flourish, and in the process, potentially creating more jobs,” Stoltz adds. “An entrepreneur who makes an impression on the judges due to aspects such as the business’ social impact, attitude, positive entrepreneurial outlook and a good business mind”.

Related: 4 Tips To Secure Funding For Your Start-up

The prize on offer – worth over R230 000 – will help set-up the winning entrepreneur for a period of 12 months, giving them a boost to help build their business.

All information on the Entrepreneur Competition is available on The Workspace website, including criteria, terms and conditions, and of course, the prizes.

For queries, please email events@theworkspace.co.za

Download the competition criteria here.

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Budget 2018/9: 3 Key Tax Areas To Look Out For In The Speech

High political drama in the opening weeks of Parliament aside, most South African business and personal taxpayers are expecting tax hikes across the board from the Finance Minister’s Budget Speech on 21 February.

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As we approach #Budget2018 day, Rob Cooper (tax expert and Director of Legislation at Sage, and chairman of the Payroll Authors Group of South Africa)has a few thoughts about what the Minister could clarify in his statement.

Government already faces a yawning budget deficit, aggravated by the need to find billions of rand to fund a new and unbudgeted-for commitment to free tertiary education.

While some spending cuts could help to release funds, we can expect a one to two percentage point increase in VAT, steep hikes to fuel levies and sin taxes, higher capital gains taxes, and perhaps even personal income tax hikes for high income earners.  We’re also likely to get more info on new taxes such as the carbon tax.

Personal taxpayers, with the exception of low-income earners, should probably not expect the Finance Minister to adjust personal income tax brackets and rebates to fully cater for the effect of inflation. In other words, even if your salary is worth less as a result of inflation, you should probably not be hoping for your effective tax rate to come down to compensate.

Here are three other things I’m looking out for in this year’s budget, each of which will have a major effect for employees and employers alike:

1. National Health Insurance

One of the big will-he-or-won’t-he questions the Finance Minister faces this year is whether to do away with the modest tax credit taxpayers receive for their medical aid payments. Government is eyeing an estimated R25 billion in funds from scrapping these tax credits, to be used to fund the incoming National Health Insurance scheme.

Many of us expected Minister Malusi Gigaba to announce this move in his Mid-Term Budget Speech in October 2017, but he held back. The move is likely to be contentious since a National Treasury analysis shows that 56% of the total credits claimed in 2014-2015 accrued to around 1.9 million taxpayers with a taxable income below R300,000.

In other words, the medical aid credit makes decent healthcare affordable to millions of people who might not otherwise be able to afford it. Taking it away could have dire consequences for the health of millions of lower income South Africans and put even more strain on an already pressurised public healthcare system.

Related: Budget Speech: The Impact on SMEs

2. Travel reimbursements and allowances

Travel reimbursements have long been a pain point for many employers and employees. Up to 28 February 2018, a portion of an employee’s travel costs was treated as remuneration when:

  • The per-kilometre rate used to calculate the travel reimbursement was greater than the SARS-prescribed rate per kilometre.
  • An employee is reimbursed for more than 12,000 business kilometres are reimbursed during the tax year.
  • The reimbursement value was greater than the prescribed maximum number of business km (12 000 km for 2018) multiplied by the prescribed rate per kilometre (R3,55 for 2018).

The result was that skills development levies and UIF contributions were added to something that should be considered as an operational cost rather than a payroll cost. This in turn increased the employer’s cost of employment. These levies and contributions were not assessed at the end of the tax year, so employers could not claim a refund.

We have long argued this regulation should be changed to be fairer to employers and employees alike. As a first step in the right direction, SARS has announced a simplification of the travel allowance and the travel reimbursement provisions, with effect from 1 March 2018.

Under this change, only the portion of the value of the travel expenses reimbursed at a rate above the ‘prescribed’ rate per kilometre will be treated as remuneration.  However, in future, we would like to see SARS handle travel reimbursements in the same way as it treats subsistence allowances for employees when they travel.

The excess portion of the subsistence allowance will be taxed on assessment, but it is not remuneration for the purposes of Pay-As-You-Earn (PAYE), skills development levies and UIF.

3. Employment Tax Incentive

I’m a fan of the Employment Tax Incentive (ETI) as an innovation geared towards addressing South Africa’s youth unemployment crisis, and the decision to extend the programme until the end of the 2019 tax year is welcome. However, administration of the scheme has always been complex for SARS and employers alike, a factor that has made some companies hesitate to take advantage of it.

Though SARS and the National Treasury have tweaked the ETI over the years, I would welcome further simplification of the definitions and calculations. That said, I don’t expect much news about the ETI this year, apart from alignment with the National Minimum Wage expected to be introduced from 1 May 2018.

Follow us on @SageGroupZA on 21 Feb for LIVE expert insights from the annual Budget Speech.

For more information about Sage’s annual tax seminars, please visit: http://go.sage.com/NPS_18Q1_C4L_ZA_EVCU_HR0310_20thAnnualPayrollTaxSeminarLP

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