This article offers practical advice and support to help you keep your business moving as we all navigate these unprecedented times.

COVID-19 is having a devastating impact on the economy and everybody around us, forcing thousands of businesses to close and leaving millions of people out of work. But even before the corona virus first arrived in South Africa, the country’s economy was in a recession – with high unemployment, low growth, rising delinquencies (on a corporate and consumer level), and the falling state of government debt.

1. Forget about the old rules

There is no doubt that small businesses will be the hardest hit from the current COVID-19 pandemic.

Find the opportunities-It is never nice to capitalize on events such as this, but they can also be a wake-up call to reconsider how you have been doing business. In this case, is your business model able to survive the changes that will come from the COVID-19 pandemic? How do you expect your customers to behave moving forward? What will and will not matter to them, and how can you accommodate who will likely be a new type of customer? Can you digitize any of your products or services, and start offering them online? Can you implement technology to balance any loss of earnings by offering new ways to connect with your customers?

2. Be essential to your customers

Your customers may be on self-quarantine, but that does not mean you cannot stay connected and continue providing excellent service.

3. Communicate transparently with your customers

Everyone is facing this together, so be open about what your business is going through. Customers can empathize with what you are facing if you communicate with them properly.

4. Focus on assisting your customers through digital channels

You may already offer phone and email support to your customers, but now is the time to increase your customer service capabilities and ensure your customers can reach you, no matter where they are. Social media is a good place to start, as you can offer the option to chat via Facebook Messenger, WhatsApp, and other instant messaging platforms. 

5. Do not panic, take care of yourself and your staff

This can be difficult especially when cash is running out, but remember to take care of yourself in a way that works for you – for instance, eat well, and try to get some exercise in.

6. Do the hard work

Let go of some ego and put in the hours. Right now, entrepreneurs feel stressed and pressured to reopen and drive revenues to make up the sales and money that they lost. As we move beyond the short-term uncertainty of COVID-19, SMEs can start thinking about strengthening their operations and strategy over the next six months, year, and then longer-term, but also to not rush it.

7. Build systems for the future

The cloud shortens the distance between you and your clients, in that you can access their data on your mobile and respond quickly to queries and business and market changes. This means you spend less time bound to a desk and more time engaging with your clients.

Conclusion

Ultimately, the only way to be ready for the next crisis (and there will be another one, pandemic or otherwise) is to make sure this one makes you stronger.

By: Marochelle Grobler (Menthe Accounting)