BNC#6: GG Alcock - 'Kasinomics' 101, the multi-bn Rand sector that no one talks about

Рет қаралды 20,750

4 ай бұрын

In his keynote address at BNC#6 in Hermanus, 'Kasinomics' expert GG Alcock delved into the informal sector economy, highlighting the resilience and potential of 'Kasipreneurs'. Drawing from personal experiences and case studies, he showcased the success stories of individuals that he has worked with, emphasising their ability to thrive despite challenges like load shedding and limited resources. Alcock highlighted the importance of recognising and supporting these informal businesses, which play a significant role in driving economic growth and creating opportunities in communities. Through initiatives like WhatsApp loyalty programs and rural farming programs, he advocates for a shift in focus towards empowering existing informal businesses rather than solely promoting startups.
Video production by Patrick Kidd
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Пікірлер: 75

@davidkotze4140 4 ай бұрын

Lovely and positive speech Mr Alcock...thank you for you and the beautiful real South African people that are the essence of our beautiful country !! 🙏💕

@rexona1178 4 ай бұрын

This man is a good man. How i wish we can have many of such voices in other African countries.

@SchalkBoltman 4 ай бұрын

Wow, you really opened up my eyes and inspired me to get involved!

@daylight5500 4 ай бұрын

Thank you BizNews. keep up the good work.

@deniscoyne5671 4 ай бұрын

Brilliant, thank you GG Alcock.

@lauriejacobs6858 4 ай бұрын

Amazing success stories of hope for the future.

@jasonseekoei5392 4 ай бұрын

Great stories i think if more people had the tenacity of these entrepreneurs SA would be a in better place , and well done to those who playing aupportive roles to these people , i can see the gap in low income urban areas too that need these kinds of business to localize spending and encourage mico economies in communities instead of money contantly flowing out of low income areas and gettingn injected in to high income areas

@thulanigawie9077 4 ай бұрын

You are not getting income tax from any business making less than R1mil in revenue a year. Trying to collect it, is not worth it.

@eugenio1542 4 ай бұрын

Fantastic 😊 I've admired this family from my youth. Thanks ☝️♥️🌄

@bevanschwartz1875 4 ай бұрын

Back rooms no vat and no taxi but me as a legit business i carry the country

@agrid2608 4 ай бұрын

Actually the informal biz people's expenditure carries the country. Almost all of SA direct company tax comes from a *tiny* handful of listed huge corporations. With every purchase these informal business owners & families make from tax-registered businesses with their income, they create the income/profit from which the tax-paying businesses pay tax from in the first place. Both in terms of Vat, as well as the income/corporate tax made by the tax-paying businesses they buy from. If your formal business sells some service or good for R 1000, odds are without the informal biz owners & families buying it from having aggregated that currency from their informal business, most purchases (i.e. taxable income) from the tax-registered businesses wouldn't even exist. The only way to grow an economy is to not burden the truly small (not comfortable middle class who think they are small & struggling, but truly small) informal businesses and let them gain capital & assets to eventually formalise when they have more.

@WalterWhite-bc8ck 4 ай бұрын

@@agrid2608beautiful said❤.

@5801160052086 4 ай бұрын

Tly, all this "economy" outside the taxation system is what is drowning the cuntry

@rgee 4 ай бұрын

@@agrid2608 "Almost all of SA tax comes from a tiny handful of listed huge corporations." And this is a huge problem. As far as I'm concerned, it doesn't matter how big or small your business is, you must comply with our tax laws. Don't get why formal business that earn a certain amount must pay while informal businesses with the same value don't.

@agrid2608 4 ай бұрын

@@rgee because then over 90% of the small ones go out of business, eliminating their aggregated spending power and economic consumption as a whole. "Feelings" don't come into it.

@kobusvanstaden3747 4 ай бұрын

Sounds like SARS is a bit behind the times here...

@MoreThanRuan 4 ай бұрын

Government likes the soft targets. Can you imagine SARS going into township trying to force people to pay for infrastructure and services that doesn’t exist. 😂

@kobusvanstaden3747 4 ай бұрын

@@MoreThanRuan don't confuse local taxes and services with business tax or income tax. We have only 7 million registered tax payers in the country with 20 million on social grants. This guy is talking about revenues in the hundreds of billions that are in all probability not taxed at all because they're simply not registered. Let's not loose sight of the fact that dodging tax is a crime, making these activities not successful enterprises, but criminal enterprises in the sense that they're breaking tax laws. I do hear you on the soft targets though

@rgee 4 ай бұрын

Interestingly as we shift away from physical cash to digital cash, SARS will be able to better find noncompliant individuals. Won't be able to stash your digital money under your bed (or in your couch).

@conniesmit1635 4 ай бұрын

I bet there are no approved building plans for those back rooms. Rules for me but not for thee.

@kabelomatthews6608 4 ай бұрын

How much tax is paid to the fiscus from all these businesses?

@WalterWhite-bc8ck 4 ай бұрын

Why should they

@WalterWhite-bc8ck 4 ай бұрын

"Blacks are lazy" goes out the window huh?... Now it's why small businesses don't pay tax? Jeez😢

@kabelomatthews6608 4 ай бұрын

😁😁

@sean.butterworth 4 ай бұрын

Very illuminating, thanks

@stefniehatzimichael209 4 ай бұрын

Interesting Well done to people and yess we must all contribute to taxes❤

@galahadsmum 4 ай бұрын

Fascinating

@agrid2074 4 ай бұрын

The informal biz people's expenditure carries the country. Almost all of SA direct company tax comes from a *tiny* handful of listed huge corporations. With every purchase these informal business owners & families make from tax-registered businesses with their income, they create the income/profit from which the tax-paying businesses pay tax from in the first place. Both in terms of Vat, as well as the income/corporate tax made by the tax-paying businesses they buy from. If your formal business sells some service or good for R 1000, odds are without the informal biz owners & families buying it from having aggregated that currency from their informal business, most purchases (i.e. taxable income) from the tax-registered businesses wouldn't even exist. The only way to grow an economy is to not burden the truly small (not comfortable middle class who think they are small & struggling, but truly small) informal businesses and let them gain capital & assets to eventually formalise when they have more.

@VID4U-er8wf 4 ай бұрын

Brilliant thank you

@Debzan-dx2nk 4 ай бұрын

Thrilling...

@m.t.1187 4 ай бұрын

Love this ❤

@jennywood7426 4 ай бұрын

Are these entrepreneurs paying tax?

@metalcake2288 4 ай бұрын

The bigger ones, probably.

@olwethupoto1077 4 ай бұрын

Do they have the infrastructure

@annemariecilliers2520 4 ай бұрын

Amazing figures and facts!

@MoreThanRuan 4 ай бұрын

If these businesses were paying tax they would most likely receive infrastructure as is the case in the suburbs where most tax residents and businesses paying tax are located.

@WalterWhite-bc8ck 4 ай бұрын

ANC as a governing party????😂😂😂😂😂

@elizefourie7596 4 ай бұрын

'infrastructure' that has been built are white elephants.... Do the research!

@nowelaZA 4 ай бұрын

Suburban infrastructure wasn't provided by the current goverment and in fact is crumbling. These people in the townships and rural areas are going to get zero for their taxes. They're better off paying no taxes and spending the money on their businesses instead.

@lucianogardelli10 4 ай бұрын

I read his book. Fantastic guy with an interesting story.

@muziwakhesibeko4022 3 ай бұрын

Book title please 🙏

@drikus3328 4 ай бұрын

Are they paying tax.

@fridgemagnet9831 4 ай бұрын

indirectly

@kobusvanstaden3747 4 ай бұрын

@@fridgemagnet9831 while the rest of us pay directly

@RG-jr8ym 4 ай бұрын

not a black thing

@AIRview2 4 ай бұрын

VAT Yes

@kobusvanstaden3747 4 ай бұрын

@@AIRview2 phew.... luckily that means they're only 13% short on what they're supposed to pay. Oh... wait.... they're STILL 27% short because they're supposed to pay VAT AND CORPORATE TAX like the rest of us who bothered to register our businesses because we're law abiding citizens... note they also operate in areas that are notorious for not paying any local taxes either. Thank goodness the rest of us don't mind picking up the tab...

@kenernstzen2407 4 ай бұрын

Something wrong when we are paying all the taxes especially vat!

@jeandesisnards5097 4 ай бұрын

Incredible stats!

@clintonmorris1622 3 ай бұрын

Inspiration.

@elizefourie7596 4 ай бұрын

My question is this...... Do they get subjected to all the ' municipal rules, regulations, laws and bylaws'.... Do they get visits from 'health and safety officials'...... I KNOW they don't!!!!

@saxolapotelwa5045 4 ай бұрын

They also don’t get bank finance and all that so what is your point?

@ObelixBarbatus 4 ай бұрын

@@saxolapotelwa5045The point is that they are not subjected to the same despotic attention of health inspectors. And you are deflecting.

@imaniraks77 4 ай бұрын

that's why it's called 'informal sector'

@Seedem_and_Feedem 4 ай бұрын

Despite the bad loadshedding and water shedding the kasi economy prevails ❤ We all trying to make it in this beautiful country ruined by Cadres💔

@AlbertusMBezuidenhout 4 ай бұрын

Lokasi...economics! The future!? What about inward industrialisation...outward export promotion!? Oh! For that we need a good Govt!?

@primorantso7128 4 ай бұрын

People Purposed Governance my good friend is the key. Gayton Mackenzie and Herman Mashaba, according to me, are the only ones poetraying wlwments of this kind of Governance.

@geminippe7088 3 ай бұрын

Good looking guy!

@Mr_Shuku 4 ай бұрын

Interesting perspective but not sure about the revenue turnover

@robertmclaggan4021 4 ай бұрын

The political parties ignore these potential voters

@Seedem_and_Feedem 4 ай бұрын

Weird how biznews has never had even one episode covering the rand manipulation saga😮

@janpretorius9788 4 ай бұрын

The informal sector is RET

@JohanW99 4 ай бұрын

28 rooms at R3k monthly each equals R84k monthly. The other person is said to make R148k monthly from backroom rentals. Seems like these people at least are doing well enough to be paying income taxes. My assumption is that no income taxes are paid. My further assumption is that no electricity and/or water is paid for. I stand to be corrected on these assumptions. This certainly does not seem like "small scale" to me.

@johannasethemane7254 4 ай бұрын

You do'nt pay vat wena. Vat is payed by the consumer you collect it on behalf of government.

@rgee 4 ай бұрын

Every single video from Alcock I ask whether these people pay the same tax as formal businesses. No response.

@primorantso7128 4 ай бұрын

Hair weaves as the most stolen commodity at ports😮😮😮 . Illegal mkhula enter these ports in the vaery same containers that bring kn them weaves.....Gupta benefits shame

@henriraath763 4 ай бұрын

Do all these informal entrepeneurs pay Income Tax, VAT, Companies Tax, Municipal Taxes, et cetera? If not, they are merely criminals exploiting the infrastructure that law-abiding citizens actually pay through their taxes. I am not holding my breath for a response from GC Alcock. 👎🏻

@thatomadira89 4 ай бұрын

THANK YOU FOR WISDOM AND ACKNOWLEDGEMENT, TO EMPOWER THE FUTURE TALENT THATS SUFFERING WITH OUT SUPPORT STRUCTURE. 'Now Faith is the substance of things hoped for and the evidence of things not seen, Under the Sun: