Running a small business is both exciting and daunting at the same time. It requires – trade-offs, jumping into the deep end and the willingness to learn and adapt on the go. You will never have all the answers and this is one of the things that I find most energising about operating in this space. As Christopher Lochhead said when talking about life and business, “the journey is the destination”.
The current circumstances that have arisen over the last few months has thrown a curve curve ball at business of all sizes – impacting employers, employees and peoples livelihoods. From loss of business entirely to finding ways to shift to e-commerce rapidly, entrepreneurs in South Africa are being forced to adapt fast.
CN&CO 1.0 developed into a successful and thriving small business and during the course of 2019, it transitioned into CN&CO 2.0. This new business model is one that enables and has empowered the creation of a number of small businesses.
We are certainly all in this together and the world is all interconnected. Yoco in partnership with IOL have set up a series of graphs to track the impact that COVID-19 is having on the turnover of small business. The graphs/charts are updated daily with the latest information – they show the ratio between pre-lockdown 2020 revenue (which is used as a base line) and the current revenue of businesses that have a Yoco profile.
View the Yoco Small Business Recovery Monitor here.
View the Yoco Small Business Guide here.
You may also enjoy this quick blog from Seth Godin, it reminded me that small business forms an essential part of the economy and these business will play a pivotal role in building a sustainable future. To keep small businesses alive as we navigate our new world, let’s remember to support local where possible and remember to collaborate and connect with those around us.
A small business isn’t simply a little version of a big business