One in four South African business closures are a result of financial difficulties. But, business owners can weather the storm of tough economic times if they stick to a few basics, like effective planning and budgeting. In this CNBC interview Kobus Engelbrecht, Marketing Head of Sanlam’s Business Market, offers valuable advice to entrepreneurs in the current marketplace where money is tight. He suggests businesses consider their efficiencies given that even minor daily expenses at the office can add up over time, and says that staying in touch with clients, employees and suppliers can maximise opportunities and minimise losses. A realistic cash-flow projection and a back-to-basics approach to keep track of how money is spent are some of the other areas of advice offered to help business owners navigate their way through the economic downturn.