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We Are All Breathing Through the Wound

A recent survey of 120 small businesses by tech incubation hub, 22 on Sloane looked at how South African SMEs are managing during this pandemic.As you will guess, things are tough no matter how you look at it. According to the report: - Over 55 000 SMEs will NOT survive the pandemic.- At most 423 500+ people working for these SMEs could lose their jobs.

-  20% of SMEs say they have NO alternative support mechanisms.The show does not stopThe tiny glimmer of good news we can take from this survey is that entrepreneurs are still talking - and the hunger to continue remains strong even if, in many cases, it means taking a few steps back. The SME SA community is no different when it comes to the will to rebuild .... 

Over the years we have been lucky enough to witness how South African entrepreneurs continue despite the odds. We would like to share some of these stories this week as evidence that with the right attitude, every crisis can provide an opportunity to learn and grow.Stay safe and healthy.

DOWNLOAD YOUR FREE COPY The SME South Africa #Tech4Growth White Paper Report 

"The private sector should include technology training for business owners under their enterprise and supplier development (ESD) programmes, and provide sponsorship for technology access for both entrepreneurs and schools." – Gugu Mjadu

Gugu Mjadu is the Executive General Manager: Marketing at Business Partners Limited.Find out what Gugu Mjadu, Luvuyo Rani and Professor Barry Dwolatzky say is needed to encourage greater uptake of technology by SMEs.GET YOUR FREE COPY of the ‘Advancing Technology Use Among South African SMEs to Accelerate Growth’ White Paper, sponsored by Telkom.

LESSON OF THE WEEK

“Never confuse a single defeat with a final defeat.” ― F. Scott Fitzgerald

Entrepreneurs Succeeding #AgainstTheOdds

The Tough Times Survival Guide

If you are experiencing stress, anxiety or are feeling overwhelmed, you’re not alone:

COVID-19 Business Support

There are funding initiatives and interventions available if your business is affected by COVID-19. We have listed the interventions in our Covid-19 Survival Guide.Here is some of the help on offer:

  1. More than R500 million are made available through the Debt Relief Fund.

  2. Businesses with an annual turnover of less than R50 million will receive a four-month tax holiday and will be able to delay payment of one fifth, or 20%, of their pay-as-you-earn liabilities.

  3. A Temporary Employee Relief Scheme is available.

  4. Wesgro, in partnership with the Western Cape Government and the City of Cape Town, has launched COVID-19 Support Finder, a tool to help South African businesses find financial assistance in this time.

  5. There is a Business Growth/Resilience Facility for small, medium and micro businesses geared to take advantage of supply opportunities resulting from the Coronavirus pandemic or shortage of goods in the local market.

  6. R200 million is available to assist SMMEs in the tourism and hospitality sector.

  7. Facebook launched a R1,7 billion Small Business Grants Program to help 30,000 small businesses.

  8. Old Mutual Insure pledged R50 million to assist SME customers and service providers.

  9. FNB SME customers can now register for the South African Future Trust.

  10. Southern African Venture Capital and Private Equity Association (SAVCA) pledged over 1 100 hours to assist SMEs.

Read more: COVID-19 Survival Guide for SMEs (Updatedweekly).

Share Your Dream Partnership in the Time of Corona!

We asked the question “Entrepreneurs, if you could partner with another person right now, what resource or skill could they provide to you?” Our readers shared their responses via Twitter.

Check out what they had to say HERE.