How your business can survive after the lockdown

It is often said that the elderly and those with impaired immune systems are most at risk due to Covid-19, but small businesses are just as vulnerable.

Seraj Toefy, custodian of entrepreneurship at the University of Stellenbosch Business School (USB), says that according to The Small Business Association, the average cash safety net for small businesses is estimated to last only 27 days

Reduce Costs

“The one advantage that small businesses do have, is that we have most likely built our business up from the bootstraps, and we know how to make do with less. As our businesses have grown, we start adding ‘luxuries’ like offices, business travel, staff, entertainment, insurance, a bigger car, and countless smaller things to make our lives more comfortable. It is time to cut all discretionary spend.”

Continue to operate

Toefy stresses that “this is not a holiday, and this is not a time for a pity party. It is a time to do what entrepreneurs do, and that is hustle. Be creative and find a way to continue operating”.

“If your business is more production based, find a way of maintaining some level of service, even if it is far reduced, and adheres to social distancing. If you have a factory that normally employees, say, 150 people, assist with remote working: then rather reduce your output by putting two shifts of 75 people.” If your business is more production based, find a way of maintaining some level of service