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By Qondile Ntiwane | 2020-07-07
The Corporate Research Institute (CRI) has provided relief to small and medium enterprises (SMEs) struggling with access to internet and the employment of individuals proficient in specialised transactions, especially in this era of COVID-19.
The company’s Chief Executive Officer (CEO) Stephen Ntshalintshali said most SMEs were facing difficulties in executing some transactions and the institute had since stepped in to assist those companies.
"Most companies have embraced technology as we live in the information technology-savvy world. Some big statutory corporates entities do not accept cheques and cash is also no longer accepted as the mode of payments.
We provide relief to small and medium enterprises that cannot afford access to the internet and also have to employ someone proficient in excel for just one or two transactions per month.”
contributions
He said the company had provided the facility to be the conduit between those organisations, which has resulted in their clients now being able to pay their provident fund contributions through CSI.
"What we do is facilitate payments electronically to the statutory bodies and convert files to Excel to conform to the requisite for ENPF to submit returns electronically using Excel format. We consider the statutory organisations like ENPF as our key strategic partners in ensuring customer satisfaction and compliance.
"As a company, we are also strongly affected by local and developments abroad and the global economy. Our customers want to be able to operate in societies that can prosper, despite the fact that development goes in cycles, especially with this year being characterised by different - but all exceptional - economic quagmires amid the coronavirus pandemic," he said.
He added that this has also relieved SMEs in mitigating operational costs as their company accepted all modes of payments, including cash, cheques, postal orders, mobile money and electronic transfers. The CEO further mentioned that most SMEs were financially excluded, as they do not have access to finance.
"It is gratifying to inform SMEs that we have secured a strategic partner who is willing to finance SMEs. We are working around the clock to ensure that SMEs have access to finance. As events unfold, we will keep our clients posted on the progress on access to finance," he said administration Ntshalintshali said the company now provides human resources (HR) services to a number of SMEs, something that added value in administration of small businesses.
"We craft HR policies to ensure smooth operation of the enterprises as we recognise that running a company, pushing a vision is different form company administration.
This service is part of our capacity building initiatives for SMEs. "Our model of business categorises business plans in six distinctive plans to suit any business model. This gives entrepreneurs the latitude to evaluate their business needs," he said.
"When dealing with a client we examine and diagnose the business need as business needs are not a one size fit all, hence the different business plans. We have learned to really live, amid the journey. So often it is the journey, not the destination itself that is important," he said.
He expressed appreciation to the company's clients for the tremendous support received.
"The Institute is not a small company, but a young company with a big vision. It is humbling to be the first CEO of such an exciting and broadened visionary entity. Our strategy is not driven by profit maximisation, but the zeal to contribute to the flourishing society by providing solutions to small and medium enterprises.
The general principle is that, there is no strategy bigger or better than your company’s strategy. I firmly believe that our company has the best strategy supported by creativity and innovative ideas.
"It is gratifying and humbling that some entrepreneurs are on-board and part of the exciting journey to stimulate economic growth and suitability amidst the COVID-19 persisting threats, which has neutralised and subsequently paralysed some businesses,” he said.
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