Heather Lowe, Head of SME Development at FNB Business, shares a few tips on how entrepreneurs can continue to thrive in the new business normal on the FNB Business Talk with Lynette Ntuli.The first thing you need to do as a business owner is understand and manage your cashflow.
Times are uncertain, but entrepreneurs can stay ahead of change with proactive scenario planning by developing various scenario plans to limit being caught off guard by changes. Also, what this pandemic has taught us is that you need to be ready to rethink your strategy and remodel your business.Now is the time to Engage with your support system by setting up time to speak to mentors and share your views with entrepreneurs in your network. Talk to your business bankers regularly for assistance.
The lockdown has also brought us together even with social distancing. There’s an explosion of online mentorship and support available and entrepreneurs who can plug themselves into these communities could see long-term benefits.
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