Management information is crucial in the effective and efficient management of resources and of any business. No goals and objectives can be achieved without it. No problems can be resolved without it. No effective decisions can be made without it.
During the Covid-19 lockdown period a large number of small, micro and mid-sized businesses (SMME’s) experienced significant cash flow problems because they could not trade at all or traded partially. Some SMME’s closed down permanently. Others granted their staff unpaid leave of absence, retrenched staff, cut salaries and benefits and others closed their doors temporarily in order to stay afloat. Most of these businesses continued to battle to stay afloat.
The SA Government, the SA Revenue Services, commercial banks and some financial institutions, financial service providers and other relief funds offered financial assistance and tax breaks and incentives to the affected businesses.
CONDITIONS FOR FINANCIAL ASSISTANCE
However, these financial assistance and tax breaks and incentives came with conditions.