SMEs need all the help they can get to tackle their challenges
Small and medium-sized enterprises need help from government and private sector to navigate pandemic
When the Covid-19 pandemic hit SA in late March one local business process outsourcing (BPO) firm was well positioned to respond. Because the company had invested in a virtual private network (VPN) months before the pandemic, it could move its call centres rapidly to remote working. In fewer than five days, the company moved more than 80% of its operations to a remote working model. The remaining 20% could be redeployed later to generate additional business.
Unfortunately, the story of this organisation is not shared by most other small and medium-sized enterprises (SMEs) across the country — and indeed the world. The vast majority have to pay rent, support staff and maintain a business when there is little to no revenue and no clear indication of when things may get back to normal. In addition to the personal cost of losing a business, the economic effect of this loss is significant. SMEs are critical for job creation and economic growth. They represent more than 98% of busin...
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