There is help out there for struggling businesses

NOTHING can prevent the economic tsunami that lies ahead – but there are pro bono, home-grown and practical interventions available to businesses in distress.

The Cobra Initiative (www.cobra.org.za), is a not-for-profit initiative seeking to help alleviate some of the struggles businesses face. Cobra uses a jump-start methodology to assess what assistance each business needs and then develops practical steps for their survival. Those facing demise should fold quickly to protect their underlying assets, as a resource base to start something new.

Those able to jump-start their engines should focus on actioning an uplift strategy which requires an avenue of growth to survive, such as the introduction of an e-commerce channel. In some cases, businesses might instead have to mothball operations, hibernating rather than reopening while the virus spreads. Other businesses will survive by pivoting towards new market opportunities.

With a strategy to tackle the road ahead, there are glimmers of opportunity. Businesses can find stability – and growth – despite the dire economic outlook and narrow gate ahead.

ADAM CRAKER | Johannesburg