Economic recovery built on a ‘buy-local’ mindset fosters resilience
The single biggest obstacle to SMEs scaling to sustainable levels is lack of access to funding
When President Cyril Ramaphosa announced the country’s move to level 1 restrictions, one could almost hear the cheers of small and medium enterprise (SME) owners who so desperately need the economy to return to some degree of normalcy.
Of course, “some degree of normalcy” or the “new normal” does not mean our lives will go back to where they were a year ago, but it does mean that barring a rapid surge in Covid-19 infections all the pieces are in place to kick-start our economy. The surest route to economic recovery and prosperity in our new normal is to support local — we need to light the fire under our immense SME potential...
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