How to save your business during Covid-19 lockdown
Surviving during COVID-19 shut down
Nobody can predict how this pandemic will end, we can only plan to mitigate the losses during this catastrophic time.
How do we go back to normal operations? Given the times we are living through as owners of a small business there are some unprecedented challenges during this global shut down.
One of the steps we can try to guide you through is to offer some steps to try to stay afloat:
Small businesses – the new relief programs to save your business
A whole LIST of support and relief programs have been announced. Some still need to be finalised and the situation is changing daily, so keep an eye on the media and incorporate into your business survival plan all relief options you think may be open to you.
Currently, below are the main support and relief systems available to small businesses in SA:
The Department of Small Business Development (DSDB) will provide relief to businesses in several categories. Call the DSBD on its 0860 663 7867 hotline or email email@example.com to see if you quality. Apply at https://smmesa.gov.za/.
The Solidarity Fund
The Solidarity Fund has been set up with R150 million from the government to, amongst other things, assist and support those affected : https://www.solidarityfund.co.za/
The DTI (Department of Trade and Industry) is set to provide relief for large businesses as well as small. Keep an eye on the DTI’s website for developments.
Other funds and relief measures
The Rupert and Oppenheimer families have pledged R1 billion each to help struggling small businesses and employees. Read the President’s speech for more on planned or implemented measures involving tax relief, changes to the Competition Act, a fund to support the tourism sector, and more.
Employer and employee relief
Access the “Easy Guide for employers on COVID19” and read up on the “Temporary Employer/Employee Relief Scheme” and UIF benefits from a special R30bn National Disaster Benefit Fund. Confirmation that employees who become ill from the virus will be paid through the Compensation Fund – details here:
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