With the current recession and reportedly South Africa in billion’s rand of debt including major corporations and banks feeling the pinch it has left our economy in bad state of financial affairs, which business owners and government aren’t willing to admit. The solution XTI Recoveries a debt collection firm with a unique approach to debt collection believes that businesses and government need to use debt collection as a means of recovering debt.

After a recent survey XTI Recoveries has found speaking to accountants and ex directors how businesses are dealing with losses and the shocking response? They either write off debts or hand over matters to attorneys which take months to recover adding on thousands of rand’s to have the debt recovered which is leading to liquidations and insolvency indicators of unpaid debt. The number of voluntary business liquidations increased by 71 % in 2014‚ while compulsory liquidations increased by 20 % over this period. This left XTI Recoveries puzzled why, would a business that currently has debt, create more debt, and the answer?

Business owners aren’t educated about the benefits of debt collectors nor do they trust them with their “bad books”.In the USA the leading economy President Obama has included in legislation the grave need and financial benefits of debt collectors towards the economy. “U.S. debt collection agencies were estimated to directly create $495 million of federal tax, $289 million of state tax and $221 million of local tax, for a combined tax impact of more than $1 billion.”XTI Recoveries believe that their unique business model and approach to debt collection is the future to minimize debts for the economy.

South Africans especially SME’s and start ups need to be educated about the benefits of debt collection. As SME’s and start ups are crucial future economic contributors to the economy. SME’s currently contribute 70% towards job creation, XTI recoveries feels strongly about assisting SME’s in minimising debt. 

For queries contact XTI Recoveries on:
Notes for editor Christi will be available for interview or any further queries upon scheduling

Contact details:
Christi Du-Plooy (owner)
Tel: 011 794 9877
Mobile 082 073 0594
Email This email address is being protected from spambots. You need JavaScript enabled to view it.
This email address is being protected from spambots. You need JavaScript enabled to view it.

Business & Professional Women (BPW SA), and the Department of Trade & Industry (the dti) are hosting a business breakfast on 7th August 2014 to launch a unique 3-day Women’s Empowerment Programme in South Africa to provide registered SME’s with the legislative knowledge required to effectively run their business within the parameters of South African law.  

The breakfast is hosted by DDG Mr Mojalefa Mohoto and DDG Mrs Pumla Ncapayi from the DTI and BPW South Africa as well as senior representatives from the JSE and UN-Women and the Commonwealth Business Council.  Various international Ambassadors and High Commissioners will host tables at the event.  A sponsorship fund will be launched at the breakfast for qualifying enterprises.  

Organisations of all sizes in South Africa need to develop and apply sound governance, risk and compliance principles and institute high ethical values. Failure to do so will have devastating consequences for the organisation, including penalties.   For SMEs, the biggest challenge is a lack of understanding around the difficulties associated with becoming compliant.   Understanding the ever-changing regulations makes the difference between a small business thriving – growing the economy and creating jobs – or closing its doors, and thus closing the door on job creation.  

Simply put, you need to know your laws. Know your rights and obligations. In this way you mitigate risk to yourself, your business, your employees and your customers. If done well, it helps to improve business performance and ensure financial success.   If you would like to be part of this Women’s Empowerment Programme, we invite you to join us at this Business Breakfast – tickets are R500 per person or R5000 per table of 10.   

For more information, or to attend the Business Breakfast,
please visit our website at http://www.bpw-jhbsa.co.za/index.php/events/30-future-events/98-business-training-courses.
Website: www.bpw-jhbsa.co.za

{pp}Gauteng based entrepreneur support initiative Rival Pioneers is hosting a workshop to assist start-up entrepreneurs navigate the maze of bootstrapping their small business.

{pp}South African debtors have nowhere left to hide from SMSs reminding them of their overdue accounts.

Until recently, only big business had access to SMS functionality for reminding their clients of overdue accounts and monthly payments. One year ago, DebtHound began offering an affordable scheduled SMS service to SMMEs for the purpose of debt collection, and as of now has added bulk SMS to their list of services.