Lockdown offers tough yet invaluable experience for innovative small businesses

The COVID-19 pandemic is putting South African small and medium enterprises (SMEs) under enormous pressure, however this resilient and highly innovative local business community is putting up a spirited fight for its survival.

“With many smaller businesses used to being highly agile and resourceful, the SME sector is extremely resilient. This is good news because the sector is an important contributor to employment and job creation, and fulfils an important role in supporting the South African economy,” says Mike Anderson, founder and chief executive officer of the National Small Business Chamber (NSBC).

In a snap online survey conducted the day before the national lockdown commenced, the NSBC found that 86% of the 733 small business respondents were already experiencing negative effects on their operations as a result of COVID-19. Some 88% indicated that they were engaging with fewer customers due to the viral outbreak.

“These times — as tough and lean as they are at present — present opportunities to learn crucial business lessons from the experience, as well as to invest in refining business practices. Tragically, however, these lessons will be hard learnt or may come too late for some businesses.”

 

ADVERTENSIE / ADVERTISEMENT

“The COVID-19 situation is hugely challenging, but we are all in this together. Small businesses will need to dig deep and use this time proactively. It is worth the investment in time to adapt, refine and enhance a business so that it is ready to operate efficiently and grow as soon as the opportunity arises once more,” Anderson says.

“Business is increasingly being conducted online, and a professional website and social media presence is of immense value to smaller businesses and offers a relatively low-cost marketing opportunity. This is the time to get your online presence right, and make it as convenient as possible for prospective customers to find your company online.”

Anderson encourages the public to support small businesses where possible, as many companies are still taking online orders and setting up services in advance for when the lockdown is lifted.

“Those South Africans who are fortunate enough to still have a regular income and who may feel the need for a little retail therapy during lockdown, please consider supporting local SMEs where possible. Your support could make a real difference at this time.”

According to Anderson, small businesses often tend to have a much closer relationship with their staff. “For small businesses in particular, losing talent can have a significant impact on their operations. Although we are in tough times right now, it should be kept in mind that for our businesses to recover we will need to look after our key people who build growth, sales and revenue. (Issued by Martina Nicholson Associates (MNA) for Agility Corporate)

Baie dankie aan Brand It sonder wie se hulp die plasing van dié aanlynberig nie moontlik sou wees nie.