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Coronavirus lockdown: How will small business survive?

24 March 2020 7:10 PM
Tags:
small business
sme
Coronavirus
micro-enterprises

Exceptional measures by government and the private sector - but will they really help protect small businesses?

The measures that have been put in place by government are exceptional in their goals.

But how high should our hopes be that they will really protect small businesses?

We clearly do not have the resources other countries have. Within the constraints of our own economy and with the donations of these two families and others we are at least talking of a few billion rand to mitigate the impact on small businesses. But we should acknowledge that that's a lot better than we probably could have expected of a country that has been ravaged by state capture. What bad timing for us to face a crisis just after everything that could be stolen has been stolen from our country.

Bernard Swanepoel, executive director - Small Business Institute

Clearly big business is talking a good talk, but this is the same big business we have been begging to pay their suppliers and small businesses on time. I think now we are not asking them to pay on time, but to pay them early.

Bernard Swanepoel, executive director - Small Business Institute

Obviously this is not only pointing fingers. Small business need to rethink their business model. They also need to rethink their dependency on big business and government. As individuals, what can we do? What can I do as a person to make another small business survive?
How can I pay my Pilates teacher although she may not be able to teach me in a class? How can we all pay our crew at home - our domestic service people, our pool people? This is where each and every one of us can make a difference.

Bernard Swanepoel, executive director - Small Business Institute
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24 March 2020 7:10 PM
Tags:
small business
sme
Coronavirus
micro-enterprises

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