“I am personally convinced that one person can be a change catalyst, a “transformer” in any situation, any organization. Such an individual is yeast that can leaven an entire loaf. It requires vision, initiative, patience, respect, persistence, courage, and faith to be a transforming leader.”
Stephen Covey

Nasreen Seria of Business Report:
“Credit growth slowed to an annual 22.5 percent last month as higher interest rates and stricter borrowing laws slashed consumer spending on cars and furniture.
Borrowing growth by households and companies slowed from a revised 23.2 percent in August, said the Reserve Bank.
Credit was expected to expand by 21.6 percent, according to the median estimate of 13 economists surveyed by Bloomberg.
The Reserve Bank has lifted its benchmark interest rate three times this year to 10.5 percent, concerned that strong consumer spending will stoke inflation.
Credit growth in excess …

Business Report‘s Tom Robbins:
“The country’s retail boom is over for now and real retail sales could fall for the first time since 1999, suggests a study by Avior Research.
While the report by the company, which provides research to asset managers, is the most negative to come from the analyst community, many agree consumers are in for a tough time until at least mid-winter next year.
Central to Avior’s forecast is the view that consumers have used rising property values to remortgage their homes to repay short-term retail debt, such as store …

In business, as in life in general, its important to learn from what we do and to change and adapt to make sure we don’t repeat our mistakes ( I know it sounds like stating the obvious but we humans have a nasty tendency of not doing that which is obviously good for us). Ed Batista across on his blog Executive Coaching and Change Management, helps us joins the dots to get the full picture and calls it “the experiential learning cycle”.
“ACT: Do something–anything, in fact. Run a meeting, …

By Business Report‘s Tonny Mafu:
“Delayed payments by the government and big corporations continue to stifle South Africa’s small businesses, prompting them to source often expensive loans from banks to remain in business.
This is according to Business Partners, an incubator firm for small, medium and microenterprises (SMMEs).
Jo Schwenke, the managing director of Business Partners, said that if customers of small businesses, such as government departments, parastatals and big companies, made their payments on time, there would be no need for bridging finance – money borrowed from banks and other lenders to …

Business Report:
“South Africa’s targeted inflation rate climbed to a four-year high of 6.7 percent year on year last month, data showed yesterday, keeping open the possibility of another interest rate hike.
Statistics SA (Stats SA) said the consumer price index excluding mortgage rates (CPIX) rose from 6.3 percent in August. It outpaced forecasts of a 6.4 percent rise and had now remained above the Reserve Bank’s 3 percent to 6 percent band for six months in a row.
The jump knocked bonds, sending the yield on the benchmark 2015 issue to a …

Ethel Hazelhurst on Business Report :
The economy, which is growing by 4 percent to 5 percent a year, is operating at two speeds. The retail sector is faltering under pressure from interest rates and barriers to borrowing, imposed by the National Credit Act (NCA) introduced in June. But the construction and related sectors are soaring.
This trend is reflected in the JSE’s general retail index, which grew strongly for several years until June last year, when the Reserve Bank first hiked rates – by half a percentage point. The index fell …

With Bentley Credit Control‘s increased focus on credit seminars, we have created a dedicated blog listing all of our credit seminars. The blog can be found at www.creditseminar.co.za.
The last set of seminar that we will be hosting this year are the following in November:
- Commercial Credit Management East London 9th November 2007
- Commercial Credit Management Johannesburg …

In the various credit management seminars that we host around the country, one of the point that I make very strongly is where not to put your standard terms and conditions of trade.
The number of people that are putting terms and conditions of trade on invoices and delivery notes is frightening. This is one of the biggest mistakes that businesses commit in trying to bind customers to their STC, is to put them on these documents. The fact is that these documents are generally received by the client after the …

Business Day‘s Mariam Isa reports:
“HOUSEHOLDS are coming under mounting strain as interest rates climb, with people who have taken on debt for the first time likely to be hit the hardest.
Businesses are also starting to grapple with higher debt service costs, although the trend has not yet been convincingly reflected in official data.
Eyebrows shot up after figures from Statistics SA yesterday showed that civil debt summonses fell 11,6% in the year to August while civil debt judgments dropped 10,8%.
The data mainly reflect individual debt, and contrast with a 16,2% annual …