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Equipping businesses for the new normal.
COVID-19 has decimated the South African economy, leading to massive job losses. Small businesses continue to bear the brunt of business closures; a catastrophic turn of events considering that small businesses provide over 70% of employment in South Africa. The small business sector needs to recover if South Africa’s record-high unemployment is to be reversed. However, this is a tall order considering the inherent vulnerability of independently operated SMMEs.
The major challenges that small businesses face in the wake of the lockdown are inadequate access to profitable markets, inadequate access to affordable funding, and excessive supply chain costs. In order for the small business sector to recover, it’s imperative that these gaps be addressed. The big question is: how do you address these gaps? This is where BeyondCOVID comes in.
People are stronger together than they are on their own, and the same applies to small businesses. BeyondCOVID applies this principle by organising small businesses into collectives and then partnering them with established corporates to achieve the economies of scale required to access profitable markets, funding and supply chains. It is a new way of doing business with many new complexities, but desperate times call for desperate measures, and now is the time to band together.
Boldly led by Advocate Fay Mukaddam, the BeyondCOVID Board of Directors is actively engaging with government, private sector and civic society to transform BeyondCOVID into a national cause that all South Africans can rally around. While government and large business interests are critical to the success of BeyondCOVID, it’s also true that all citizens can contribute. Avenues for crowdfunding contributions are being made available.
Unfortunately, it’s not possible to help all small businesses at once, and BeyondCOVID will initially only focus on a number of industries to build momentum before eventually expanding to other industries. The goal is, however, to grow the number of small business collectives, and to provide a safe harbour to small businesses which are currently at sea, as fast as humanly possible.
The need is great, but hope is on the horizon.
BeyondCOVID is a registered Non-profit Organisation (262-123 NPO).
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Your time, brand, COVID-19 solution or network can help a business to survive this pandemic.
Did you know that it is possible to get more customers while decreasing your costs? To find out more check out page 67 in the BeyondCOVID Playbook.
This “Costovation” strategy is just one of the practical ideas presented in the Playbook to help your business survive and succeed during COVID-19.