From what I heard in the presentation, the banks need them more than they need the banks... without banks, there is no papertrail and by implication, tax. They only pay VAT now, no unnecessary banking fees..
I listened to half of this presentation and got up and decided to pull my thumb out of my backside. I'm going to take the risk. And as demonstrated throughout, not much capital is needed for many of these cash cows. I have 1 or 2 ideas for some, I paused the video and did some projections, even the most pessimistic projections show me that there's money to be made in this so called 'informal sector'. Thank you for helping me wake up Mr Alcock
Yeah, they also don't pay any taxes (VAT, Personal income tax or municipal taxes) they also don't pay Eskom either.... This while the people paying taxes and their Eskom bills, are either getting off the grid, closing down their businesses, taking their money offshore and living off the proceeds, or leaving SA altogether...🤣😂😅
You will not find SARS taxing these guys while they earn above the rates that a government employee earns salary's. I've done maintenance court cases where they sell airtime and earn an impressive salary for themselve. I've done many cases, but none of them pay taxes. Sorry to say, but this government tax the payslip owner to deaths and these guys life in luxury. 😮
GG, you must help township residents to have businesses in the CBD instead of stealing the little they have. You are the enemy of informal settlers and not their spokesperson.
