COVID-19 Intervention Funds Application Assistance For SMMEs

CORONA VIRUS RELIEF FUNDS APPLICATION made easy

We will help you become compliant to receive the necessary cash injection to cushion your business from the adverse effects of the COVID-19 Lockdown.

UP-TO-DATE FINANCIAL STATEMENTS

Up-to-date Financial Statements is a non-negotiable application requirement on almost all of Covid-19 Intervention funds, whether its government, banks, NPO's or private sector foundations. Get in touch to have your books and Financial Statements up to date.

PROOF OF COVID-19'S IMPACT ON YOUR BUSINESS

When applying for COVID-19 intervention, both government and private sector are looking to screen out businesses that were struggling naturally and we already sinking before the Corona Virus pandemic lockdown began. Whatever the case, it is not very difficult to prove you were impacted for a carefully planned detailed analysis of your management accounts should do that.

JUSTIFICATION AND PROPOSED USE OF FUNDS APPLIED FOR

Even if you satisfy all other criteria for applying for COVID-19, yet if you do not know how to justify the figure you are applying for you might end up receiving less than the amount your SMME really needs to stay afloat during the lockdown period and the months thereafter. You must also provide a fund-usage proposal - almost like a mini business plan for the use of the funds and of course when you should be able to pay back those funds (unless they are grants). Your cash-flow projections should make sense. We can assist you in both the justification and fund-use proposal writing.

SARS TAX COMPLIANCE

If you are applying for government COVID-19 Intervention Funds then being South African Revenue Services (SARS) compliant is virtually non-negotiable. If you are not compliant there are two steps - 1) calculate your taxable income and 2) file via efiling. We can assist with both the tax computations and efiling registration and and filing.

PROOF OF MINIMUM WAGE COMPLIANCE

If you were paying your employees fairly that should be easy to prove for the official minimum wage is R3500. If you were not forwarding Pay-As-You-Earn (PAYE) of your employees then again you must register with SARS and remit the PAYE records. For many small businesses. PAYE would be zero since few of them can afford to pay salaries above R7500 a month - roughly the range when PAYE begins to be taxable.

OTHER SPECIFIED REQUIREMENTS

There are various sector-specific funds from both government and private sector for COVID-19 Intervention for SMME's. Hard hit sectors such as tourism have additional requirements that one must satisfy to access funds. Some of the funds are grants which need not be returned. Some sector specific fund application condition might include having certain registrations, meeting a minimum percentage of locals employed in your company and also your company being South African owned. Whatever the additional conditions, we can help you comply or find alternative funds or means.

Frequently asked questions

Yes, we offer FREE 30 minute consultation to assess your immediate and advice on the best fund to apply for. NB. You will have to place an appointment though via phone or our contact form.

Our services differ in prices and for different clients for rarely can you find two clients with the exact conditions. For instance, one client might have 3 year backlog of financial statements whilst another will have only one year.  Please get in touch for quotation.  

Yes, we do. In fact, we highly recommend this service for the economy will never be the same after COVID-19. Only those businesses that are able to do detailed brainstorming and strategy sessions will be able to position their operations for quick recovery and success whilst the rest will most likely struggle. 

Yes, we train financial accounting, book-keeping, administration, company secretarial services, SARS efiling services, business plan writing and effective financial fund applications among a host of other services, 

Yes, we do set up accounting information systems. We also generally recommend the FREE accounting program ‘Turbocash’ for SMMEs that do not have finances for commercial accounting packages. We also design tailor-made management systems to help with effective and efficient administration of operations. 

GET IN TOUCH

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