Accounting,  Other,  Tax,  UIF

Small business assistance requirements

Small to medium enterprises can apply to receive financial or other assistance during the outbreak of the coronavirus.

Click here to be redirected to the government website where applications are to be submitted.

The following is a list of requirements in order for the application to be successful.

  • The business must have been registered with CIPC by at least 28 February 2020.
  • Company must be 100% owned by South African citizens.
  • Employees must be 70% or more South Africans
  • Priority will be given to businesses owned by women, youth and people with disabilities.
  • Company must be registered with SARS and UIF.
  • SARS and UIF must be compliant.
  • Proof must be provided that the business is negatively affected by the COVID-19 pandemic.

The following documents must be submitted:

  • Company statutory documents
  • FICA documents, i.e proof of business address
  • Certified copies of director’s ID’s
  • 3 Months bank statements
  • Latest financial statements. If the financial statements are older than 3 months, managements statements must be submitted.
  • Business profile
  • 6 Months cash flow projections
  • Copy of lease agreement or proof of ownership if applying for rental relief.
  • If applying for payroll relief, a list of all employees as registered with UIF, including their banking details. The money will be paid directly to the employees and not into the businesses’ bank account.
  • A detailed breakdown of how funds will be utilized, including salaries, rent etc.

For any assistance with Financial statements or UIF submissions, contact us now.

Disclaimer: Information used obtained from Rekord newspaper.

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