The future growth and hope for SMEs in South Africa post the Covid-19 pandemic has been hanging on by a thin thread. In fact, it is the classic tale of the two brothers, one named ‘Brink of Closure’ and the other ‘Barely Making Ends Meet’.  

By definition, small to medium-sized enterprises in South Africa are, “separate and distinct business entities, together with its branches or subsidiaries, if any, including cooperative enterprises, managed by one owner or more predominantly carried on in any sector or subsector.” Source: McKinsely & Company 

  Let’s paint the picture... 

To run a successful business that can thrive, scale and survive, you need a combination of things, such as: 

• Right technology 
• Equipment 
• Staff compliment 
• Cash flow  
• And the tenacity to handle the pressures of serving customers.   

Ultimately, it comes down to the cash that is needed to keep the doors open and how the needs of customers will be met. The biggest question now becomes, if SMEs were already struggling to access business finance owing to their financial track records, being unbanked or falling short in collateral, how will they survive the greylisting status, power cuts, rising inflation and even prime lending rates?  

It is not just another sector, it’s real people... 

The SME sector is not just a collection of spaza shops, salons or small shisanyamas by the corner of a busy taxi rank. It is a composition of dreams, livelihoods, passion, ambition, hard work and an undeniable entrepreneurial spirit. It is a home and host to those who find solace in starting while scared. Starting while broke. Starting without training and most importantly, starting without financial and capital reserves, dividends or copious amounts of money waiting to be used. It is a sector founded on the prospect of entrepreneurial flare.  

New approaches and services can make tough days manageable for SMEs.

While IT News.Com contends that, “digital adoption offers an island of stability in the volatile South African economy. Technology allows businesses to run more efficiently, remain globally integrated, and maximise their profits. Companies which keep up with the latest technology, from incorporating it into their processes to training staff, will have a real advantage over their competitors.” About 54% of small business owners, however, still feel unprepared for the future of doing business digitally. 

Your business can still turn challenging times into prosperous ones.

It's possible to access up to R5 million in the form of a VodaLend Business Term Advance quickly and easily making that turnaround closer than ever before. Sinawe to help you build your business your way, and keep being the innovator, the operator, and the difference maker to your employees, customers and community. There is business funding tailored and available to you. Now is the time to take hold and take flight.