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In the last couple of weeks, a lot of people want our opinion on current political developments and what it could mean for small to medium business.

 

The below is opinion and not legal advice, and thus, a bit of a break from our normal legal educational content.

 

The fact is that there are very few fields that are not impacted by the value of the Rand or the up and down race of certain shares on the JSE. We have in recent months noticed that many of our debtors, being persons that owe money that we are collecting on behalf of clients, are in very dire financial situations. In the Vaal Triangle, a lot of this is caused by a high level of unemployment caused by retrenchments. 

 

The prudent business person looks at turbulent times and determines that a conservative view of business is the right path forward. This means less risks are taken and less jobs and opportunities created, which in essence leads to less opportunities for the desperate job seekers.

 

A few years ago, It was normal to have to accept lower amounts of monthly payments from debtors in one out of twenty or thirty cases due to financial strain. This has drastically risen in recent years and leads to situations where some monthly payments do not even cover the monthly prescribed interest amounts on the capital judgement debts causing a deeper and deeper financial hole for the debtor.

 

This all leads to a question, how do we fix it?

 

The answer is opinion driven and definitely not prescribed in law. The fact is that our law firm strives to assist those that needs it most. Sometimes at great cost to ourselves. Risks are worth taking as long as the benefits are tangible in the lives of those that require it most. Although the law protects consumers, businesses and everyone in between. Humanitarian discretion is still the best cure for social, political and most other problems. 

 

We are always able to assist our fellow man, most of the time with no gain for yourself. This does not mean that we should stop seeking our business success. It simply means that we should help those around us, if we can. The person you help today could be the person that gives you business tomorrow.

 

In short, the legal system is a set of rules that guides us. Our Humanity provides the principles that allows us to grow within these rules.

 

Not a legal argument, but a human one. 

 

Keep taking risks and believing in your country and the people that live in it and allow others to flourish due to it.

 

As always, we are available to assist if/when/should risks become tangible problems.

 

Have a great month

 

-Du Bruyn Attorneys