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How Has COVID-19 Affected Small Businesses In SA?

By: Bronwyn Levy

Final call for SMEs to participate in national survey and stand a chance to win cash for their business

Johannesburg, 11 September 2020: Finfind  – South Africa’s leading online access to finance solution for SMMEs, has partnered with Government, big business and other key national stakeholders to conduct a comprehensive study on the impact of the COVID-19 pandemic on the vital SMME sector. The SA SMME COVID Impact Report will provide valuable insights on the effects of lockdown based on the largest sample of SMME business owners surveyed to date.

All SMEs are invited to participate, and with the survey closing soon, now is the time to take part – one lucky respondent will win R10 000 cash with five others receiving a R1000 gift voucher for participating!

Darlene Menzies, CEO of Finfind says, “While no person or business has remained untouched by the effects of COVID-19, the SMME sector has undoubtedly been one of the hardest hit. The data we gather will enable SMME stakeholders to better understand the challenges that SMMEs are facing – internally, externally and at a social level, as well as to quantify the extent of the impact of the COVID pandemic. The aim is to enable them to develop and support appropriate solutions tailor-made for small businesses, that can assist the recovery of this crucial business sector going forward.”

The SA SMME COVID Impact Report will provide an analysis of the impact that the lockdown has had on micro, small and medium businesses over the past five month-end periods. It will highlight important information about the effect that the lockdown has had on their businesses, in terms of the ability to generate revenue, meet monthly expenses and retain jobs. This report will also focus on understanding the tactics used by entrepreneurs to manage these problems. A key objective of the report is to also provide a picture of what the longer-term landscape may look like for entrepreneurs and business owners whose livelihoods, in many cases, have been dealt devastating blows during lockdown. 

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