COVID-19 – The responsible SA Business Response

[JohanJack]

Life is stable now because Corona Virus. We even can't go outside like before. Always need to avoid crowded places.

[IanF]

Anyone have a mixture to make it yourself ...considering there are no stocks on the shelves and the majority of people in this country just dont have R50- 70 to blow on hand sanitizer.

We made our own, we use denatured 99.9% alcohol we use for cleaning some machines and had a few litres. Then added RO water about 60/40 and use that.
The alcohol we got last year from Enterprise Ethanol and it is not cheap. Not sure of the stock position currently.

[AndyD]

The economic impact worries me more than the actual virus.

In Cape Town with it's high reliance on tourism it's going to be devastating. I'd guess about 90% of business is either directly tourist related or indirectly as part of the supply chain that services those business and people employed by them. Economically I see this ending very badly.

Almost immediately I see the vast majority of restaurants, bars, hotels, tour companies, retail outlets etc bankrupt in the coming weeks and months. When the cards at the base of the stack fall those above will follow later.

[AndyD]

Personally I'm not too badly placed, I own everything I have and my business has. No vehicle payments, no bonds, no loans or finance, no rental agreements... not even phone contracts so I can run on a shoestring indefinately. I fear many others are not so well placed though....

[adrianh]

This thing affects so many people is so many ways - Most airline pilots and cabin crew are hourly paid and the airline industry has hit the fan (pardon the pun).

[ians]

Personally I'm not too badly placed, I own everything I have and my business has. No vehicle payments, no bonds, no loans or finance, no rental agreements... not even phone contracts so I can run on a shoestring indefinately. I fear many others are not so well placed though....

I am in a similar situation ...I have just paid up my credit card (wish i hadnt considering what is happening ...it would have given me just that little extra backup)...have a small bond ...no vehicle finance ...no loans... no cellphone contracts...no wholesaler accounts ... just 2 staff wages to pay.

My only headache is the electricity department ...they arrived at the gate yesterday to read the meter ... they havent read my meter since the middle of 2018 and havent been billing me an estimate since the middle of 2018 ...my rates ...water and sewage etc are up to date...that is gona hurt.

At least the good news is my bond rate has dropped.

[ians]

The emails have started ...factory shutdowns.

What does this mean for us small business?

Do we put our staff on short time for the month while all the factories are on shut down...no work no pay?

Do we rather send staff home on short time before the virus gets us ...on short time no pay ...on sick leave you have to pay?

What happens if one of your staff members die form the virus ?

[ians]

If you are put on short time for 14 days ...your normal deductions will apply?

[adrianh]

Although I told my guy not to work this week I still paid him in full. I have money and he doesn't. I do what I think is right no matter who says what.

[Derlyn]

Presently, tenants are finding all the reasons in the world for not allowing us access to do our work.

I don't suppose one can blame them.

This week we worked for 2 and a half days. I paid my assistant, Xolani, in full for the whole week.
I will carry on doing so for as long as my financial position allows. He has 2 children to feed, I have none.

We are in for difficult times. If I can cover his pay and expenses, I'll be ok.
In fact, if it wasn't for Xolani, I would have shut shop long ago to go fishing full time.

Adrian, you and I are on the same page, brother.

Cheers and peace out ... Derek

[ians]

Although I told my guy not to work this week I still paid him in full. I have money and he doesn't. I do what I think is right no matter who says what.

I am also in the same boat ......for how long i dont know... we are going to get to the point where we either pay the bond or pay wages ...we gona get to a point where the funds are going to run out ...then what ...sell your house to pay wages?

[adrianh]

I am also in the same boat ......for how long i dont know... we are going to get to the point where we either pay the bond or pay wages ...we gona get to a point where the funds are going to run out ...then what ...sell your house to pay wages?

We all just do what we can....

[ians]

I have just received a message from Standard bank ...GOOD NEWS... talking about paying wages or the bond... looks like the bank is offering a payment holiday from the 1 April - 30 June 2020

There are T&Cs (what doesnt have them) it is still good news...interest and fees will still be charged.

I have just watched the nation address ...are these ministers and the president immune to CV19 ? Everyone is going on about isolation and 1.5 m distances and large groups... non wearing masks and all standing right next to each other.

No real feedback ...just a lot of talk about them talking about the issue.

[adrianh]

Well Trump told the americans that no more than 10 people should gather together at a time (he had 16 people in his TV delegation at the time.....)

Leading by example......she's not beeeeg....

[ians]

I am sure Standard bank is gona be overwhelmed with calls this morning... people trying to figue out the message they sent out yesterday... then another sent out a couple hours later informing everyone that the first message was an error and only small enterprise customers business loan/s apply

Who actually qualifies for the payment holiday and does it mean the payment holiday is for the bond portion only ...but not the interest and fees.

Here is the catch ...my business is run from home ...my bond is in a joint account ... so which part qualifies for the payment holiday.

Lets say my bond is R5000 ...the monthly interest is R2300 and the fee is R60

The holiday is for the R2640 but the R2360 must still be paid ?

DO i actually qualify for the payment holiday ... the bond is not a business loan?