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SAICA launches Business Emergency Rescue initiative in response to the recent unrest in South Africa

SAICA launches Business Emergency Rescue initiative in response to the recent unrest in South Africa

The events that have played out in the country a few weeks ago have had an immense impact on all South Africans. Following from South African Institute of Chartered Accountants (SAICA) member requests and engagement with the SAICA Eastern Region Council (in Kwazulu Natal), SAICA leadership is urging its members across the world to join in an initiative in an effort to help not only fellow members, but also individuals, who can benefit from SAICA members’ expertise to rebuild their businesses and deal with the emotional and mental stress that they are experiencing.

“At SAICA, we see our members as leaders in the economy – individuals who can make a difference in society to better the lives of everyone. It is our duty to do what we can to alleviate the emotional and physical hardship that South Africans have been subjected to. SAICA leadership, employees and members need to be a part of the solution and make a difference where we can,” said Freeman Nomvalo, SAICA CEO.

“We have therefore launched an initiative called Difference Makers: Business Emergency Rescue (BER) and while there are specific elements in this initiative that are tailored to SAICA members, the plan also includes support actions aimed at South African business people who have been impacted by the riots,” Nomvalo continued.

The plan includes, amongst others, the following:

  1. SAICA is reactivating its Business Emergency Room initiative, which was originally developed at the onset of the global pandemic in an effort to support small businesses that were adversely affected during the first lockdown.

The next phase of the Business Emergency Room initiative is aimed at assisting businesses that have been impacted by the recent turbulence in South Africa. The priority and purpose of the Business Emergency Room remain to accelerate economic recovery and growth through supporting small businesses.

The initiative will once again call on experts to participate as part of a voluntary panel of business advisory experts, offering temporary pro-bono support to businesses in response to the current economic strain and its repercussions on society. In turn, businesses will have an opportunity to apply for the support from the panel of business advisory experts.

It is important to note that the service remains purely an advisory service and not an implementation service. In addition, participation will be on a pro-bono basis for a limited period of time.

  • Business experts who are willing to help, should kindly sign up here.
  • Businesses who would like to apply for support through the Business Emergency Room, can do so here.

The specialist areas of advisory are as follows:

  • SASRIA Insurance claims
  • Cash flow management
  • Funding/Grants/Incentives applications
  • Business strategy for uncertain times
  • Business diversification
  • Taking new products/services to market
  • Business processes/Business Continuity Processes
  • Business rescue
  • Sector-specific advice
  • General business coaching
  1. Since the onset of the global pandemic, SAICA has hosted a number of Wellness Check-in webinars, focused on mental health and wellbeing. Given that a large number of people are experiencing trauma due to the recent riots, SAICA is sharing these Wellness Check-In webinars for free on the SAICA website.
  2. SAICA is partnering with Gift of the Givers to provide an opportunity for SAICA members and their organisations to contribute financially towards the relief efforts aimed at resuscitating the economy, thus alleviating societal hardships. SAICA has engaged Gift of the Givers in this regard to facilitate a more streamlined and direct process of administrating the welfare fund.

Although SAICA members received a specific reference code to use when they make financial contributions, SAICA urges all individuals who want to contribute financially to get in touch with Gift of the Givers to do so.

  1. We are further arranging an Economic Recovery Conference, not only to support SAICA members who may have been impacted, but also to support all businesses who are dealing with the aftermath of the recent riots. This conference will most likely take place within the next few weeks, the details of which SAICA will communicate as it becomes available.

Nomvalo concluded: “SAICA thanks everyone who has already stepped up to help others and those who will continue to provide support over the next few months. We appreciate the dedication to the wellbeing of not only our fellow citizens, but also the economy. Together, we can make a substantial difference.”

 

 

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