Over the past four years a number of companies have lost tens of thousands of Rands due to alleged fraudulent request for quotations (RFQS) and orders, supposedly from government departments.
The fraudsters would send a fictitious RFQ from what would seem to be a governmental email address, use a fake RFQ form with a logo and contact details of the contact person. These requests are usually “urgent” and the whole process is concluded within a short period of time. During the process the “SCM officials” will be in contact with the unsuspecting service provider until the goods are delivered either outside the building or at an agreed address.
Companies are therefore advised to verify all the RFQs and orders by calling the respective departments using the Departmental contact details listed on their respective websites to verify authenticity prior to responding to any RFQs or orders to avoid falling prey to these fraudsters.
This is email republished for our Gmail users especially because Gmail service, though superb, does put legit email in their SPAM folders by mistake and these Gmail users end up “not seeing” legit emails.
My Email that was marked as SPAM by Gmail by mistake
Hi Entrepreneur or Tenderpreneur 🙂
It is a pleasure that you allow TolaTender to service you with our free tender alerts, your business growth is very important to me for that also helps the country, you grow we all grow, this is my inspiration for partnering with alternative yet LEGAL business cash flow solutions some backed by companies like Investec.
I provide you with information on the business cash flow solutions you can start using today. Enabling your business to have cash all the time. All over the world a new form of cash flow financing is emerging to rival the traditional financial institutions, because entrepreneurs have gotten tired being denied finance…
We heard these stories before,
“I recently gotten a tender but don’t know where to find the cash to pay suppliers”
“I recently gotten a tender but am waiting over a month for government funding, it looks like I won’t deliver on time 🙁“
Sell your invoice and/or tender purchaser orders
Yes. Sell them and get finance now. So you can find money to pay suppliers, and not wait up to 60 days for payments.
My Cash Flow Problem Busting propositions for you, both options are all about saving your business TIME waiting for its big customer payments, basically another business more stronger will wait on your behalf, isn’t that smart? And this also enables you to pay your suppliers on time and not risk losing your customers may it be government or private companies:
Government Tender Purchase Order Finance: Stop worrying about where you will get funding or money for you big tender!You sell your tender purchase order basically, and get the cash TODAY to pay your suppliers on time and accomplish your tender goals. This option gives you the “Redbull wings” enabling your business to even go for bigger tenders!
Invoice discounting: Don’t wait for payments from your big private company customers. Its a cash ASAP once your credit line is established where you sell your invoices to an invoice buyer at a discount e.g. sell a R100 000 invoice for say R95 000, and not wait 30 days.
BONUS:FREE! TolaTender tender alerts via email (via SMS soon 😉, am sure you have joined which is great, and if not go to website www.tolatender.co.za and register your tender alert, they come every monday, so you can start “hustling” knowing where the business leads are and not worry about cash!
How long it takes to get the cash?
I have heard stories of people waiting months to get government funding after they have gotten the tender! Get pre-approved for tender finance in 24-48 hours! No more stories like “I recently gotten a tender but don’t know where to find the cash to pay suppliers”. These cash flow financing solution gives you cash in few days!
Interested? What is the next step?
Get the cash flow quotations by filling the following respective forms online:
I am forced to publish an important email I sent yesterday here on your TolaTender News website, yesterday I sent an important email on new finance options available for your business (am publishing it here too), Gmail email service sometimes does put legit emails from your senders into their spam folder by mistake, using their intelligent systems they detect spam email by looking how many times certain words and phrases are used, e.g. Cash and Free, so when I had “Cash Flow Solution” and “free” used in my email I suspect it is the reason their put that into their “spam” folder by mistake. Well Gmail users can end up not seeing important emails from their legit email senders, and if you a business you may end up losing an important client, sadly 🙁
Well Gmail service is free, so expect some problems like this, it is up to you to check and remove legitimate emails from your spam folder to your main inbox, else Gmail may forever put your important sender emails to your spam folder by mistake, and you end up not seeing key emails from your clients.
Regularly check your spam folder ,
Unmark our email we sent you or remove or transfer legit emails, emails you expecting, to your main inbox that have been put in that folder by Gmail by mistake.
Gmail users, please do not mark legit emails as spam if they come from sources you subscribed to such as newsletters, rather unsubscribe using the link at the bottom of the email to unsubscribe.
So when you see Gmail warning you like this below, don’t just think they correct all the time check whether you know the email sender or not, if you know them do step (2) above, Gmail also makes a mistake, sadly 🙁
Saving costs is another way to make profit and is an old adage, often overlooked, in our new section here at TolaTender.co.za News I will give my personal experience of about 20 years “playing” with business technology, but I will explain business technology in my style which is “crystal clear” yet simple, the cost and benefit analysis of a business technology solutions that anyone can implement in their office, so that you are able to see clearly, in money terms, the cost savings per year and and implement those solutions if you wish to replicate my successes and reap the benefits in money terms of increase in your business profit, once again I remind you, this is a very critical understanding, “Saving costs is another way to make a profit!”.
Let me make an example, I used to wake up and post content manually to our various social media platforms like Facebook and Twitter, from our database-driven company website or let us call it a blog as some of you may have blogs, blogs too are database-driven, a database basically is computer storage of information, in this case my business information, this exercise would take 2-3 hours each day from say 4am till 6 or 7am, planning and doing it, remember one must also add tracking code to content to collect performance statistics so I can know which posts had the most clicks etc, now an employee’s normal working day is 8 hours, so if you subtract the 3 hours than I would have already used a third of my working day doing this repetitive admin, and if an employee earns say R30 per hour that is R30 x 3 hours x 30 days x 12 months per year and the cost of that activity was R32 400 per year, if you could save R32 400 per year what can you use it for? An end of the year vacation, new office equipment or re-invest it and your time into another profit making business activity likes sales! Well that’s what I did, I developed a simple computer software program to do this repetitive admin task of posting to our social media from our blog or database-driven website.
We will clear the myths and superstitions around business technology, and bring your business from the dark ages back to the 21 century!
Our new business technology section at TolaTender.co.za News will give such practical examples and clear cost savings in money terms not some “shady” business technology solution whose impact in money terms, the seller can’t tell you, yet sells it to you as a necessity and beneficial! YOU MAY ALSO LIKE: Get Fast Business Finance!
You have done the work for your customer, a big business, the client is satisfied, and you have issued your invoice, however, the problem is that your business customer will only pay you in 7 to 60 days! Mean time, there are immediate expenses that need to be paid monthly, and these creditors don’t care that you will be paid in 7 to 60 days days they want their money pronto! They hound you and call your telephone almost daily demanding their money like yesterday! You can’t even sleep at night because of the worrying sigh…CLICK HERE! Get This Business Finance Quote!
We all been there, it is called Cash Flow Challenge, let us call it CFC. Your accounting books tell you have the money, however the problem is that that money is not coming to you at the time you need it, which is now! But your money will be paid to you by your customer or debtor in the near future, and that future just happens to be in 7 to 60 days to come, which of course for a cash strapped entrepreneur is too far! And did I mention? You find that your local bank can’t help you especially since they became part of that new tighter international standard or law for banks, which basically means, banks can’t just loan people with low credit scores, and you happen to have a low credit score too!
Well, here at TolaTender.co.za we not here to write long and complicated stories, but we give the entrepreneur a working solution that the entrepreneur can start using immediately and solve his or her business problem, without further a due I present to you invoice discounting, another cash flow problem busting solution! In our last article I introduced tender financing or purchase order financing but that is for “tenderpreneurs” or entrepreneurs who have government purchase orders but no money to pay suppliers immediately and do the tender.
What is invoice discounting?
Ok, here at TolaTender.co.za, we write simply because we talking to entrepreneurs not some Masters of Business or Guru, and simple is better, basically, you sell your specific invoice for a debtor to another business at a discount, and the other business waits the 7 to 60 days you would have waited to get paid WHILE YOU DO NOT WAIT 60 DAYS, and you get up to 90% of the invoice value paid to you today! The rest, which is 10% minus the services fees, you get that later when your customer pays the business you sold that specific invoice to!
Your get this business finance even with a Low Credit Score!
Same day payment into your account!
The invoice purchaser does not take over your whole debtors book – only specific, large debtors;
The product is very flexible – you decide how much cash you need and which customers you want to discount;
Your invoice will be discounted up to 90% of its value;
There are no monthly or fixed costs – you only pay for what you need;
There are no fixed terms – you can discount at any time;
Minimum paperwork required, and
Above all: YOUR CASH FLOW PROBLEMS ARE RESOLVED INSTANTLY.
The product or service must already have been supplied by you to your customer or debtor;
Your customer must be satisfied with the product or service;
Your customer must be a reputable company with a good business record and credit standing;
Your customer must agree to pay the invoice amount into our bank account;
Your customer must sign an undertaking confirming the invoice amount.
The discount rate is 0.15% per day until your customer pays the business that bought that specificinvoice, but the actual rate depends on the credit risk assessment so you will be assessed. You will only be charged for the exact number of days for which the invoice is outstanding. There is no minimum period. They may be a nominal service fee of say R300 per discounting transaction but this depends on many factors.
A BEE Certificate is for getting your business work or tenders from procurement departments!
WHO IS BLACK PERSON IN SOUTH AFRICA?
A Black person, is as all people who may have been disadvantaged under the apartheid government, and includes Black, Coloured, Indian or Chinese demographics. However the individual must have been a citizen before 1994.
Example : A Chinese immigrant who has only received citizenship in 2005 would not be considered ‘Black’ as defined by the act.
DO 100% BLACK-OWNED BUSINESSES NEED A BEE CERTIFICATE?
YES! In South Africa more business opportunities are available to you if you have a BEE Certificate. If you are a supplier to the manufacturing, or retail industry, you might find that your buyer requests that you have certification. You have to be certified if you want to tender.
In almost every way, having a BEE Certificate in todays business economy is useful and an advantage to your company. A BEE Certificate could be requested by one of your suppliers or customers without warning and being able to answer that you are compliant gives a good impression of your company. As it only takes a few days to organise why not register yourself today?
The greater the turnover the harder and more expensive it becomes and the harder it is to do? For most companies (except architect and travel industries) whose turnover is less then 10 million, they only require a BEE Exemption certificate. This can be easily done in a few days for prices starting at R490.
For companies who have larger turnover, an office visit is required, where a government approved agent will test you concerning a variety of areas. If you have to do this the cost of a BEE Certificate rises very quickly.
WHAT IS SANAS AND SANAS CERTIFICATION
SANAS is the government agency, who accredits companies to do BBBEE certification. There are only a few companies is South Africa that can issue SANAS approved certificates.
If you are not exempt from proper certification, then you will need a SANAS approved company to visit you and score you in accordance with the required prerequisites. They will then issue you with a SANAS approved certificate.
WHAT ARE THE DIFFERENCE BETWEEN THE LEVEL 1,2,3,4?
The smaller the number the better the level. In the past we had level 3 and level 4. Level 3 is better the level 4. Level 4 is intended by white owned companies, or companies where more then 50% of their shareholding is white. The mark for level 4 is 100%, and level 3 is 110%
Level 3 was the best option if you are majority Black Owned (see definition of Black above). In a nutshell if you have a level 3 certification, your quote might be 10% more costly then your Level 4 competition and you could still win the tender.
A new series of codes were released in October 2013, listing the new codes of Level 1 and 2 for companies who don’t appear in specific sectors. This means that a Black Owned company could get a Level 1, which equates to 135% Bee Rating as an EME.
Generally, if you are 100% Black owned, you will receive a level 1 certificate. In unique cases, certain departments in South Africa might not yet recognise this level (they are outdated departments as this law is now over two years old) and you might be disqualified. In these cases you are welcome to request a level 3 instead.
Save South Africa: Learnership training is the only solution left for South Africa to beat youth unemployment!
My little brother is an inspiration even to me, he failed maths in 2015, and then went to supplement it in 2016 but did not perform well still! In 2017 on his own went to supplement again! Now he is getting 70-80% maths and physics at the time of writing this article, why he keeps fighting? He has a dream to be an architect and nothing will stand in his way! He been drawing since he was young and who knows maybe he can help solve the housing problem in South Africa using architecture innovation, but my little brother is “lucky”…
The Youth Unemployment Problem in South Africa
South Africa needs a work force with technical skills period! Or else no jobs! Let me repeat, possibly this warning you reading here is one of the last warnings in this era of uncertainty engulfing our country, South Africa needs to create technical skills fast to beat unemployment! Else…
…MORE CAR HI-JACKINGS, ROBBERIES, POVERTY …
Help South Africa while getting R80 000 tax rebate per employee and up to 20 BEE points through learnership training
Learnership training basically means, your company takes say one or two matriculants off the streets into its umbrella for 1 year for work-based job skill training, you pay for that learnership training but then claim it back from government, and at the end of the year the matriculant ends up with a SETA NQF qualification recognised.
What about tendering together with another business?
Working together we can do a Tender Joint Venture, isn’t?
This is called a joint venture (JV). When two businesses form a joint venture (a partnership between two business) they each contribute to the project and share the profit. In this way two (or more) small businesses may be able to win a large tender that neither would have been able to take on alone.
Use the following guidelines when selecting a tender joint venture (JV):
Choose you partner very carefully. Like any partnership, a tender joint venture (JV) thrives on mutual trust and collapses when partners become suspicious of the others motives, agendas and ethics
Enter into negotiations early
Rather involve two or more smaller tender joint venture (JV) partners than one other firm that is much bigger than you are; and
Draw up a formal tender joint venture (JV) agreement and state all expectations clearly, including usually vague notions such as the one partner empowering the other with skills.
The Tender Secret: How to get tender finance when banks refuse you?
Tender financing or tender finance in South Africa is a funding option for businesses or tenderpreneurs that need cash to fulfil purchase orders from government, many times entrepreneurs, especially black, find that they have the skills that can or wins them government tenders but do not have the money to spend on the order, a government purchase order as it is sometimes called, to do the work that a particular government tender requires them to do and accomplish the tender goals.
Purchase order financing or purchase order finance is a funding option for businesses that need cash to fill single or multiple customer orders. In many businesses cash flow problems exist. There will be times where there is simply not enough money available to cover the costs of doing business.
Black entrepreneurs in particular often complain that banks refuse to take the risk to provide the tender financing or purchase order financing. This becomes a “catch 22”situation for these businesses as government won’t give a business a tender unless they have what is called Bank Financial Guarantees for Tenders or a “big brother” who will say “I guarantee to assist this business with tender financing so that it can get the tender or be able to meet the cashflow needs.”.
The Solution: Tender Financing
Tender financing need in the market exists, it is a general business cash flow need nothing special, and so the market innovated with alternative tender financing and purchase order financing options, financiers who are willing to take the risks that the banks won’t take, financing the said business or tenderpreneur, and at very competitive interest rates than even the banks sometimes.
Engineering News reports that the Gauteng Open Tender System pilot is set to become policy of the Gauteng government, in their 9th December 2016 article. Engineering News further writes,
“In an effort to tighten up public procurement, improve transparency and eliminate potential corruption gaps, the Open Tender System breaks the mould of the traditional behind-closed-doors decision-making process of the selection of bidders for projects, goods and services in South Africa’s richest province.”
Gauteng Finance MEC Barbara Creecy told Engineering News that the Gauteng government plans to introduce the new legislation within the course of next year – 2017. Engineer News further reports that
“The move is in line with broader ambitions to safeguard the public purse, combat corruption and restore public confidence in Gauteng’s public procurement system, which has come under fire in recent years and has developed a reputation for favouring those with political influence.”
“Entrepreneurs, innovators and business executives have told me that they do not bother anymore to bid for government work, citing as the reason that, in order to get a tender, you have to bribe your way into the corridors of power,” Gauteng Premier David Makhura says.”
Times Live reports that a special council meeting of the Gauteng council was scheduled for 12 December 2016, this special meeting allows for the urgent council business (tabling of quarterly reports) to be completed before the new year. In that meeting council was to vote, amongst other issues expressed as urgent, an amendment to the Supply Chain Management Policy, however, the ANC caucus was not present for that vote to happen.
TolaTender.co.za sincerely hopes, as Gauteng Finance MEC Barbara Creecy said, this year, 2017, the Gauteng Open Tender System will be a permanent fixture, the clear evidence shows that the Open Tender System actually improves empowerment of marginalised people than being counter empowerment as some claim, e.g. At least a third of suppliers were consistently rotated and there was more women empowerment.