20 April 2018
Entrepreneurship
Beware the brakes, applaud the drivers
In this, our last newsletter of an eye-opening and eventful year, we sign off from 2017 by paying tribute to the engine room of any economy: entrepreneurs.
The father of modern economics, Adam Smith, posited the view that entrepreneurship and innovation would
ultimately lead to ever-increasing wealth. This view has been echoed over the decades since Smith courtesy of
surveys, commentaries and cold, hard facts, with the World Economic Forum identifying entrepreneurship as one of
the drivers of sustainable growth economies.
The world, and South Africa, celebrated entrepreneurship week in November. So we too have chosen to focus on this economic driver by looking not only at the support on offer to business owners through the FirstRand family, but also by shining a light on the young entrepreneurs of the future and delving into ways in which to spur on children's instinctive entrepreneurial spirit.
In the context of our struggling local economy this conversation is vital but, as much as planning and positioning documents like the National Development Plan, give lip service to business development, much is currently in a state of stalemate as the country holds its breath ahead of the ANC Elective Conference in December. We look at the possible economic scenarios which might play out based on the outcome of the conference.
A trend we have observed in 2017, which could be due to the political and economic uncertainty in South Africa currently, is emigration. At this juncture, we would like to remind clients looking to relocate to other countries to discuss the process and financial implications with RMB Private Bank. For those simply looking to externalise more wealth, there are a few avenues on the table, from taking advantage of the R1 million annual Single Discretionary Allowance, the R10 million annual Foreign Investment Allowance or the more regulated over R10 million options. In all instances, we can provide further guidance and, where necessary, assist you via Ashburton Investments and FNB Securities.
Finally, with the festive season upon us, we take the opportunity to run through some essential security tips and insights. Our message is simple: Enjoy a hard-earned rest and recharge your batteries, but remain ever vigilant in both the real and online worlds.
Best wishes to you and yours this holiday season and we look forward to being of service to you in 2018.
The world, and South Africa, celebrated entrepreneurship week in November. So we too have chosen to focus on this economic driver by looking not only at the support on offer to business owners through the FirstRand family, but also by shining a light on the young entrepreneurs of the future and delving into ways in which to spur on children's instinctive entrepreneurial spirit.
In the context of our struggling local economy this conversation is vital but, as much as planning and positioning documents like the National Development Plan, give lip service to business development, much is currently in a state of stalemate as the country holds its breath ahead of the ANC Elective Conference in December. We look at the possible economic scenarios which might play out based on the outcome of the conference.
A trend we have observed in 2017, which could be due to the political and economic uncertainty in South Africa currently, is emigration. At this juncture, we would like to remind clients looking to relocate to other countries to discuss the process and financial implications with RMB Private Bank. For those simply looking to externalise more wealth, there are a few avenues on the table, from taking advantage of the R1 million annual Single Discretionary Allowance, the R10 million annual Foreign Investment Allowance or the more regulated over R10 million options. In all instances, we can provide further guidance and, where necessary, assist you via Ashburton Investments and FNB Securities.
Finally, with the festive season upon us, we take the opportunity to run through some essential security tips and insights. Our message is simple: Enjoy a hard-earned rest and recharge your batteries, but remain ever vigilant in both the real and online worlds.
Best wishes to you and yours this holiday season and we look forward to being of service to you in 2018.