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Attention Sole Proprietors

Dear Sole Proprietor

If you operate as a sole proprietor and are interested in participating at international shows, then please read this important message.

The Department of Trade, Industry and Competition (dtic) has amended their rules for financial assistance offered to sole proprietors. Note that sole proprietors will no longer qualify to receive funding to participate at international exhibitions.

In future, to qualify for funding, you are required to register your company as a (Pty) Ltd. As part of your application, it is now a prerequisite for an entity for present financial statements to the dtic.

This will entail the following:

  1. Annual financial statements compiled by an accountant or auditor registered with a professional accounting body e.g., SAIPA, SAICA or SAIBA
  2. Financial Statements must be signed by both the members/directors of the company and the accountant/auditor
  3. If the financial statements are older than 12 months old, a signed letter from the accountant/auditor must be attached confirming the following:
    3.1 The turnover of the entity;
    3.2 Total assets (excluding land, and property);
    3.3 Number of full-time employees.

It is suggested that you contact an accountant to assist you to register your company as a (Pty) Ltd and prepare financial statements signed by both the accountant and you at once.

The Jewellery Council of South Africa are planning the following international exhibition for 2023/2024:

2 – 5 June 2023 – JCK Las Vegas (investigating this show)
13 – 16 August 2023 – New York Now
13 – 16 October 2023 – JIS Miami
January 2024 – Maison et Objet – Paris

Should you require any advice, please contact Lorna Lloyd at lornal@jewellery.org.za or Annalize van Zyl at annalize@annalizevanzyl.co.za

With best wishes

Lorna Lloyd