Here’s how your business can bounce back post-Covid-19 lockdown

2020-04-07 12:21
Social entrepreneur and business coach,Ruth Mthabine . (Photo: Getty Images/Gallo Images)

Social entrepreneur and business coach,Ruth Mthabine . (Photo: Getty Images/Gallo Images)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

The current national lockdown has left many South African businesses swimming in a sea of uncertainty, thanks to the global coronavirus pandemic.

Despite efforts by banks and other financial institutions to offer relief for small businesses, some might still struggle to get back on their feet once the lockdown comes to an end in 10 days.

Read more: Coronavirus: 'Our entire livelihoods are coming to a standstill' during lockdown – waste picker

Social entrepreneur and business coach Ruth Mthabine says it is possible for small- and medium-sized enterprises (SMEs) to bounce back once the fight against Covid-19 is over and lockdown is lifted. But, she says, the work has to start now.

“If your business is affected by Covid-19, like most businesses are all across the world, there are a few problems we should assess before we find the right solutions. Before we get into the dire drawbacks of the pandemic, first we must smoke out the real issues.”

Read more: Coronavirus: I hope the virus doesn't kill more businesses than it kills people - Joburg bar owner

“I have realised that a majority of SMEs have pinned their business failures on the outbreak of the virus. But if we really have to address the real issues, there were underlying problems before the outbreak. The pandemic came in hard at trying business times and, unfortunately, was the final nail in the coffin,” she says.

According to Mthabine, there are 10 important points to consider when bouncing back from the pandemic. Here they are:

1. Accept failure happened and learn from it.

2. Change your business model not your business industry.

3. Prioritise the tasks that lead to change. Manage priorities.

4. Have a mentor/coach to direct the makeover (you can book my services).

5. The real value is outside your comfort zone.

6. Grow with small incremental steps.

7. Remove negative forces.

8. Keep an eagle eye on the finances.

9. Align yourself with people who believe in your vision.

10. Follow up and reflect.

 

NEXT ON NEWS24X

Inside News24

 
/News
Lockdown For
DAYS
HRS
MINS
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.