Small business, big setbacks: worries set in as lockdown looms

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As SA prepares for lockdown, to empty the streets and stay at home, small businesses across the nation are grappling with big questions

How will they recover economically? How do they continue running their businesses? And which businesses, exactly, count as essential services?

According to InvestSA - a division of the government's trade and industry department - the beauty sector employs more than 50,000 people and produces retail revenues of R25bn a year. “My 21-day plan is not to panic and to pause for reflection. I am going to pray to God that this passes,” Lake added.Standard Bank, Nedbank and other banks recently announced that they would allow their small- to medium-sized business clients to take a three-month payment holiday.

“We don’t fall into the categories that Standard Bank has stipulated, but our clients do. I believe that it will benefit the small businesses that use our auditing and accounting services. There is a possibility for a positive future,” said Govender.

 

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Lion_For_Truth Small business that can operate remotely will continue...... They don't all get fat salaries and perks from the taxpayer, like the fatcat government! Don't fck this economy up!

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