South African enterprises that were severely affected by the economic downturn and the COVID-19, may qualify for the Business Turnaround and Recovery Program (BT&R) that is managed by Productivity SA.
The BT&R program is fully funded by the Department of Employment and Labor and it offers non-financial assistance in the form of expert consulting support. The program can span over a period of 9 to 12 months to achieve a business turnaround and recovery. During this time, the company is empowered to put processes in place to turn the company around.
In order to qualify for the program, enterprises should meet the minimum criteria:
- The enterprise must be registered and should operate from physical premises.
- It should be in operation for 2 years.
- It should show financial and/or operational distress
- The enterprise should employ a minimum of 20 employees (though >10 can be considered) up to 80 employees
- It should have the latest 2 years’ Financial Statements and/or Management accounts
- Confirmation of UIF contribution
- A Valid Tax Clearance Certificate
There is no financial input needed from the company.
Should a company be interested we will assist to apply for this BT&R program.
Productivity SA will assess whether the enterprise qualifies for the program and will either accept or reject the application.
Business Improve Services (Pty) Ltd
Tel: 072 111 3996