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“The scale of the national COVID-19 lockdown is unprecedented in living memory. The repercussions – personal, professional, national and international – will reverberate for years to come. As entrepreneurs, we need to be making the right decisions for right now to ensure that our businesses and our people’s livelihoods do not become another casualty of the virus.”

At date of writing it is still unclear to what extent the Lockdown will be relaxed in each Province, but regardless of timelines the COVID-19 pandemic and the crisis it has landed us all in are not going anywhere in a hurry.

Businesses and perhaps SMEs in particular face both enormous challenges and many new opportunities. Some good solid advice on how they can navigate these stormy seas comes from Allon Raiz of Raizcorp in the form of a series of articles under the heading “Lockdown advice for entrepreneurs” here. To date six articles are available –

• “Get to rational quickly”
• “Building an opportunity matrix”
• “Scenario planning as a vital tool”
• “Building an exploded resources list”
• “Creating a small list of big questions”
• “Embrace your X”.

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

© LawDotNews

“Never let a good crisis go to waste” (Winston Churchill)

The COVID-19 coronavirus crisis will, like all crises, eventually give way to economic and societal recovery. 

Even before that inevitable upturn actually sets in, entrepreneurs should remember that times of great risk and challenge are also times of great opportunity. So get your team together now and brainstorm what new needs and new niches you can fill. Witness for example the “remote destination” businesses like game lodges now offering safe and luxurious havens for those wanting to self-isolate and to practice social distancing far from the city hotspots. That’s a win-win for everyone – businesses, their employees, their clients, and their suppliers.

And when a sustained recovery does make its welcome appearance, make sure that you are way ahead of the pack by using this current time of fear and negativity to maximise your planning. What will the recovery look like? How will you take advantage of it? What staff and resources will you need?

Get off to a good start with “Growth opportunities for small business in SONA and the Budget” on the Catalyst Magazine website which highlights some of the many opportunities still open to businesses big and small –

• The Infrastructure Fund
• The Tourism Equity Fund
• The African Continental Free Trade Area
• Incentive Programmes For Small Businesses.

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

© LawDotNews

“It takes seven times more money, effort and time to get a new client than it does to keep an existing one”

We’ve all heard of “dog whisperers”, “cat whisperers”, “horse whisperers”, even “elephant whisperers” – but “client whisperers”? Is that even a thing?

It is, and with your clients being the lifeblood of your business, retaining them is fundamental to its profitability and success. For a take on how to do that – to your mutual benefit – read “The Client Whisperer” on the CleanFax website.

The article specifically addresses carpet cleaning businesses but the principles it espouses, and the advice it gives, are universal. They apply to every type of business you can think of. 
So protect your client base – become a client whisperer!

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

© LawDotNews

“A journey of a thousand miles begins with a single step” (Laozi)

Many of us dream of starting up our own thriving businesses. But it’s an ambition that few actually attempt, let alone achieve, and no wonder – it’s scary going out on your own, and there are many challenges awaiting you on the long road ahead. And we all know how that first step on the road to success is often the very hardest to take.

So where to start? The Internet has a wealth of useful resources for entrepreneurs and would-be entrepreneurs. The general principles of entrepreneurship apply universally, so the American website BusinessTown, with its extensive library of easily-digestible video content, is a great place to take that first all-important step. Customise a list of videos relevant to your particular needs under headings such as –

• Start a business
• Run a business
• Increase sales and profits
• Ramp up to the next level.

There are videos there covering everything from “5 myths about starting your own business” in the “Should You Start a Business?” section to “Finding new business ideas in the everyday” in the “Hundreds of Business Ideas – Which One Is Right for You?” section.

A final thought – before you actually launch, get proper legal advice. Ask questions like “what vehicle should I choose to house my new venture?” “What formalities must I comply with?” “What agreements should I have in place?” And so on…

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

© LawDotNews