SMEs can still thrive

Yes, your business can survive and thrive amid the COVID-19 crisis.

The SME sector has been one of the hardest hit by the COVID-19 pandemic and lockdown. Local entrepreneurs Mike Stopforth, Colin Timmis, Tumi Phake, Warrick Kernes and Eduan Snyman weigh in on how you can still meet your business needs and take daily operations to the next level, despite the tough times we’re currently all facing.

Here are five core insights that you can implement in your personal and professional life:

Look after yourself and use this time to think. “Running a business needs you to be both physically and mentally fit. Your business doesn’t exist without you. This tough time is also a great time to think about new ideas, new ways you can solve a business problem and new products or services that you can add to your business.”

Mike Stopforth, entrepreneur, writer and speaker

Understand who your clients are and what they need. “Small business owners need to know what their clients are thinking and where they are going.”
Colin Timmis, Country Manager at Zero Accounting

Open new revenue streams. “You cannot have one revenue stream; you need to be smart and come up with more value-adding revenue streams. We will never go back to normal, even if the lockdown is over. It’s time to prepare for that.”
Tumi Phake, founder of Zenzele Fitness Group

Embrace an online strategy. “If you relied on clients walking through your doors, it’s time to open an online branch that can access new customers, extend your reach across the country and cater to new ways of buying.”

Warrick Kernes, CEO of Isaka eCommerce Academy

Build relationships. “Add personal touches. Don’t sell; instead educate people about your services, build a relationship and sales will follow.”
Eduan Snyman, owner/MD, BaseCloud

Business Banking Invested in Every Moment

We understand that small businesses have different banking needs. B\\YOND supports your business with a digital platform that enables you to keep working online and get your business growing through difficult times. Find out more: https://sasfin.com/business-banking/business-banking/transactional-banking/