Today’s Top Entrepreneurship and Business Stories (12 September)

Today's Top Entrepreneurship and Business Stories (12 September)

Today's Top Entrepreneurship and Business Stories (12 September)Smir Design Wins Local Creative Business Cup Competition

The inaugural South African leg of the international Creative Business Cup competition has been won by Smir Design, which produces pet-friendly soft furnishings, scatter cushions and synthetic rugs.

The Creative Business Cup promotes creative industries worldwide.

The company now goes on to compete in the global competition in Copenhagen on 16 November 2017, where more than 60 other national winners will be pitted against one another.

This year, the competition was held in collaboration with the recently held Small Business Expo where contestants were trained in pitching, in pursuit of the national crown.

The contestants were Brainbow Conscious Creatives, BrownChildCiamsomi Promotional Products Solutions, Creative L’amourEmagAlex Parks, Hustlenomics, Modular InnoboxSmir Design, and South Revolution. Short clips of the pitches can be watched here.

In 2018, Creative Business Cup South Africa will invite startups in the arts to apply to participate in provincial run-offs and the winners will again compete for the national crown and the opportunity to represent South Africa against all the world’s winners in Copenhagen.

Metered Taxis And Uber Clashes Will Turn Away Tourists – Minister Xasa

Tourism Minister Tokozile Xasa on Monday warned that violent clashes between metered taxis and rival e-hailing company, Uber, could deter tourists from visiting South Africa.

Last week metered taxi drivers allegedly torched two Uber cars in SandtonUber drivers reportedly retaliated by setting alight a metered taxi in the same area.

Tourism Minister Xasa said she was concerned over violent incidents and was distressed about the potential negative effect the ongoing acrimony could have on the tourism industry.

“In addition to the needless destruction of property and threat to human life, the general mood of uncertainty implicit in the violence threatens the stability of the tourism industry on which thousands of jobs are reliant,” said Xasa.

“For any domestic or international tourist, the sense of security is as important as the ordinary citizen. However, both the metered taxicab and Uber operators need to bear in mind the fact that whereas as citizens, our relationship with South Africa is not one of choice, tourists can elect to visit one place and not another and one country instead of another.”

The minister warned that if the violence continues between the metered taxis and Uber operators they would eventually all lose customers who are in fear of their own safety.

“In this context,” said Xasa, “it is self-evident that the operators are cutting off their noses to spite the faces.”

The Minister called on the rivals to urgently to engage in dialogue to find lasting solutions to their disagreements. (via African News Agency)

Gigaba Urges Tax Practitioners To Help Combat Illicit Financial Flows

Finance Minister Malusi Gigaba has on Monday, urged South African tax practitioners to assist government in combating corruption, money laundering and illicit financial flows which deprive taxpayers their deserved benefits.

Gigaba said that the tax revenues collected kept South Africa running, paying for social upliftment and poverty alleviation through grants and the multitude of services that the government provides, much of which benefits the most vulnerable in society.

Gigaba was speaking at the South African Institute of Tax Practitioners’ Tax Indaba in Johannesburg on Monday.

“We encourage you as tax professionals to help us send the message that individuals and businesses should obey the law, disclose their offshore assets, and pay their fair share, before they are caught out,” Gigaba said

“Unfortunately, as long as taxpayers either remain non-compliant or move to reduce their tax burdens, there will need to be corresponding tax policy amendments to uphold the integrity of the tax system.”

Gigaba said that the positive actions of business, labour, communities and individuals will be vital to setting the country on an improved growth path for the benefit of all citizens.

He spoke strongly against corporates involved in illicit financial flows, saying that government would ensure that they pay their fair share of the taxes.

“Action must also be taken to ensure corporates pay their fair share, which we are attempting to address through measures such as those which are currently proposed to stop the use of share buybacks and dividend stripping to avoid capital gains tax,” Gigaba said. (via African News Agency)

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