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How will 21-day national lockdown impact small businesses? pundits weigh in

24 March 2020 1:12 PM
Tags:
small business
coronavirus in south afrca
#Covid19
Economist Dr Thabi Leoka and A2Pay's Jon Paris discuss how curbing the spread of COVID-19 will affect informal traders.

President Cyril Ramaphosa has announced stricter measures to deal with the spread of the coronavirus.

Addressing South Africans on Monday evening, Ramaphosa announced that a nation-wide 21-day lockdown would come into effect on midnight on 26 March until midnight on 16 April.

The president also announced a solidarity fund to help those in need which included a "seed fund" along with R1 billion fund from the Oppenheimer and Rupert families.

RELATED: Ramaphosa announces 21-day nationwide lockdown

Companies in distress will receive help and if necessary, the UIF system will be called on to help, while banks were being called on to assist those who were struggling.

How will this lockdown impact on small businesses?

Clement Manyathela speaks to economist Dr Thabi Leoka and A2Pay commercial head Jon Paris to weigh in on the matter.

It is worth noting that not all businesses will be covered and unlike other countries we don't have fiscal space to roll out huge funding for many of our small and medium enterprises.

Dr Thabi Leoka, Economist

The Small Business Department has launched an online portal where businesses can apply for government assistant, she says.

Even though it wont cover everyone, it is a step in the right direction.

Dr Thabi Leoka, Economist

Paris says the government said there will be a safety net for informal businesses but more detail will probably be given in the next few days.

We hope that spaza shops do stay open, the government did say that supermarkets should be open as they provide essential staples. We certainly hope that our stores do stay open.

Jon Paris, Commercial head - A2Pay

To track the latest developments around the coronavirus both in South Africa and abroad, click on this live status report from Strategix.

Listen below to the full conversation with Jon Paris:

Listen below to the full conversation with Dr Thabi Leoka:


24 March 2020 1:12 PM
Tags:
small business
coronavirus in south afrca
#Covid19

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