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Help at hand for struggling companies

If you are struggling to survive and need some financial assistance, help may be at hand. The Hermanus Chamber has formed a partnership with Productivity SA to get financial relief for a number of companies in the Overstrand who qualify for the Turnaround Solutions Programme. The main goal is to prevent or minimise retrenchment and job losses. Apparently up to 65% financial support can be granted if you have not been making a profit for about two years.
Here is the criteria for qualification to apply for this assistance:

Turnaround interventions Criteria

  • Organisations should employ at least  20 or more people to qualify for Turnaround Solution intervention.
  • If organisation employs less people than the given criteria, they can cluster with other similar organizations in the area.
  • They should be in a financial decline or distress but with the potential to be turned around.
  • The company needs to be operating for the past three years.
  • They need to have 2 sets of financial statements e.g. (2011/2012)
…………………………………………………………………………………..

Nurturing

This is the physical engagement of the organisation with the Turnaround Solutions consultant to decide on the viability of the application according to the above mentioned criteria.

Preliminary Assessment

This is the company comparative assessment which compares the applicant’s weak points to similar businesses in the same sector. It identifies the immediate crisis that needs to be resolved through a crisis management. These are done using several tools available within Productivity SA.

Crisis management

This is the immediate action to be taken to prevent the business closure or possible retrenchments until the turnaround processes take effect.

Future Forum Establishment

This is an establishment of a committee involving management, employees and union representatives in a manner that enables structures and open discussion between all parties regarding the issues of job retention and company performance.

Future Forum Capacitation

One day training of the Future Forum on productivity and business principles that will make the organisation profitable and sustainable.

Productivity Champions Training

This is a three day training of the productivity champions. The module covers productivity concepts, organisational performance, etc.

In-depth Assessment

The organisations’ core problems are assessed and an appropriate turnaround strategy is developed.

The only snag is: they have just given us two weeks to respond.

Strategy Implementation

The agreed strategies are implemented.

If you are interested, or know of any company within the Overstrand which should qualify for this assistance, please let me know, and we can follow up with Productivity SA. It must be done via the Chamber.

The only snag is: they have just given us two weeks to respond.

Contact Alta Pretorius, CEO Hermanus Business Chamber on 028-3151619.

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