Small business compliance checklist a ‘burden’, ‘overregulation’

Small business compliance checklist a ‘burden’, ‘overregulation’

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‘This list does damage to an industry that already struggles to keep its head above water,’ Osidon’s Hennie Ferreira said.

The mandatory compliance checklist introduced by the Companies and Intellectual Property Commission (CIPC) is another burden added on the country’s small businesses and part of overregulation that will make the investors flee, according to an expert. Hennie Ferreira, chief executive of digital accounting firm Osidon, said the list would first undermine the rest of the country’s drive to attract investment to South Africa. “Overregulation flies in the face of government’s plan to turn the economy around. Investors will look at the overregulated environment and decide to invest elsewhere,” Ferreira said. The checklist was not educational as it only allows for...




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