Black Friday: Can one day in a year save the country’s economy? Submitted by Pam Munday
The story behind economics Apart from the key GDP factors contributing to the economy, consumer spending plays a vital role in the country’s gross income. Consumers need to spend a certain amount of money regularly as the income and value added tax are embedded in the price of goods. This money is used to finance the state’s responsibilities towards the society’s well-being, such as health care and public services. Black Friday marks the biggest sales period in the entire year for the whole country, therefore, its influence on the economy itself, not just on your own budget, is substantial. Because of major discounts on Black Friday South Africa shoppers are keener to purchase goods they wouldn’t normally think of because of their financial situation. It is also the perfect opportunity to stock up on gifts for friends and family before various family events and celebrations. Both sides of the argument win. That’s microeconomics 101. On a larger scale, however, any country that relies on business’ growth, wants small and medium sized local entrepreneurs to be able to develop as it means more money for the government, and us in the end.
More and more local sellers offer discounts and promotions on their products as part of the Black Friday event, which in turn, encourages people to pay taxes in their own country. It promotes goods produced domestically and better quality as the end result. Initially, the name of the holiday had absolutely nothing to do with people actually dying. Merchants in the 1950’s United States would mark their profits on post-Thanksgiving sales in the black instead of in the red (when losses occurred throughout the rest of the year), so obviously the name “Black Friday” would easily catch on. Today, unfortunately, with all that shopping madness, which some people aren’t immune to, deaths occur during the shopping sprees and until we learn how to safely take advantage of sales, they will continue to happen To enable people of South Africa to shop safely on Black Friday, and on any other day throughout the year, discount codes websites, such as Picodi.co.za, offer access to all shopping outlets in the country. The same products are available if you decide to shop personally and online, so not leaving your house to replenish your own stocks is both convenient and safe. You might want to take a look at the merchant’s websites beforehand just to see what’s available in store and when the 25th of November comes you will know exactly what to buy. Thousands of Rands will most likely find their way back into your bank account. In a country that for many years relied on traditional economic factors, such as agriculture, mining and manufacturing, Black Friday is an interesting concept. The scale of sales may not be as big as in the U.S, but if used properly, it may help both businesses and individuals in their growth and development.
Minutes 17 November 2016 Compiled by Lina Howard 19 members present and 7guests Attendance
Visitors
Fellowship Announcements
Slots
Guest Speaker
Wenche and her sister, Elfie, Dr Gallia (Guest Speaker), Principal Denzil of Perivale Primary, Principal Terence of Fairmount Secondary school, Stephanie, and Mark Meredith of Wynberg who found us on our website. Rob Murphy’s birthday on 19th – 21 again.
*Alan:Nominations for President and Secretary to Rob by end November – Election on 8 December 2016
- Barry - Collecting names of people who would like to join a fellowship brunch at Brownies and Downies on Sat. 26 Nov. *Biffy: UP parking duty roster needs more volunteers to fill gaps. Help also needed to wrap presents. *Justin: Informed the club we will not be sending a team to potjiekos competition. Colin Jacobs will be at the next meeting to discuss some clothing ideas for club including a cap, T-shirt and golf shirt. Dr Muavia Gallia: Gave a wonderful presentation on School turnaround Strategy in the Grassy Park Schools. This is a huge comprehensive methodology that encompasses staff and pupils. Learning to read and reading to learn forms an essential core to the primary years without which no progress can be made. Elfie drew a heart but sadly not the right heart. No winners tonight (shame)
Swindle
Going Forward Dates To Diarise 24 Nov
Abe Oliver from False Bay College will tell us about the ‘Rapid Incubator’ programme designed as a fun way of introducing young learners to the principles of Entrepreneurship
26 Nov
10.00: Brunch at Brownies and Downies, Shop #7, 2 Long Street WRC’s evening at Uncle Pauls,Charity Night – 29 November, 5.45 / 6pm. - please respond to Keela for catering purposes
Tues 29 Nov
( please spend as much time with the children as possible) Rotary Club of Hout Bay have a Laugh Out Loud Quiz night 19H00.
27 Nov. to 24 Dec.
Uncle Paul’s Christmas Party. Don’t forget to volunteer for duties.
1 December
DG Ian’s official visit to the club.
8 December
Last Business Meeting of the year.
10 December
End of year / Christmas Party at Karen’s house, formal invitation to be sent. Friends of Rotary welcome.
Duty Roster November
December
24
1
Wynpress Editorial
Barnard Murphy
Wynpress Minutes
Cleveland Overbosch
8 Business mtg. Hovstad Schonegevel
Murphy K Schreiber
Cleveland
Maunder
van Niekerk
Cleveland
Door Duty
Smith
Todd
van Eeden
K van Niekerk
Grace
Lidgley
Maunder
Munday
Murphy
Loyal Toast
Bayes
Barnard
Bird
Cleveland
International Toast
Schonegevel
M Schreiber
Smith
Todd
Speaker Intro
Danckwerts
Jackson
N/A
Danckwerts
Speaker Thanks Entertainment for the month
Todd
N/A
Van Niekerk
Sergeant
15
.
(the one on the right – is me)