COVID-19 - Local businesses affected

Upon declaring a national state of disaster, President Cyril Ramaphosa noted that the measures aimed at containing the COVID-19 outbreak would have a lasting impact on the economy. Considering that many local businesses are already experiencing some level of distress, business owners should take proactive measures to cut overheads, take control of financial management, and keep cash flow in check. This is according to Justine Hoppe, Director at Mazars Recovery and Restructuring, an internationally integrated partnership, specialising in audit, accounting, tax and advisory services, who notes there has already been an increase in queries around business rescue. Justine Hoppe joined us on the line...