According to a survey done by Small Business Institute (SBI) in 2020, as many as 55 000 small, medium and micro enterprises (SMMEs) may not make it through the COVID19 pandemic. South Africa might see an rapidly increased unemployment rate due to SMMEs being unable to see through the pandemic.
South Africa is currently navigating operating during the COVID19 pandemic. We have recently, as a nation experienced looting and unrest. This is having a negative impact on the nation and might cripple the economy for a very long time unless serious intervention is carried out. A Non-profit company called 67CEOs Foundation that has since 2017 through partnership with private sector partners alike assisted over 2000 SMMEs with financial and non-financial support intervenes.
SMMEs now more than ever require assistance. 67CEOs Foundation intervenes through corporate partnerships and intend to offer relief funds to affected business. Affected businesses will receive R35 000 non-repayable business cash grant to rebuild their store, purchase damaged/stolen equipment, restock looted inventories and/or pay staff salaries in order to avoid layoffs.
The intervention is a partner funded relief intervention that aims to limit the economic impact of COVID-19, social unrest and looting on SMMEs in South Africa.
Not only did business owners loose stock, their business premises and equipment. Some owners lost loved ones due to the terrible stumpeed, some will be depressed as the experience is traumatic. Another thing to consider is that business owners need to revisit their business model and create one that will help them grow from now and also be able to navigate through the pandemic.
To assist with trauma affected business will also receive R32 000 worth of trauma counselling and business recovery mentorship. They will also have access to free innovative online masterclass on business model pivoting, helping them grow and navigate through the pandemic.
The organisation has launched the campaign on their social media platforms and would like to invite businesses that were affected by looting and unrest to apply on their website.