Covid- 19 Resources

The South African Supplier Diversity Council (SASDC) compiled some tips to help ease your financial concerns during the COVID 19 lockdown period; herewith some considerations:

1. KNOW YOUR EXPENSES; BUT CLEAR DISTINCTION BETWEEN BUSINESS AND PERSONAL

Now is the time to get a clear view of your monthly expenses and spending habits and how these may need to change.

During this Covid-19 pandemic, staff whose work is not classified as “essential services” will have to conduct their duties from home. This brings about a spectrum of challenges for managers and their team members. Team members have a variation of situations to deal with at their respective homes and the lockdown may cause feelings of disconnect and loneliness.

Some of the team members may also fall through the cracks and get overlooked. Strategies need to be developed in order to keep team members goal oriented, motivated and to simply get the work done especially for teams whose work is co-dependent.

Here are some strategies:

Be it Covid-19 lockdowns or just social distancing, faced with more time at home, users are looking to the digital world to keep them feeling connected, updated, and entertained.  If this time is showing us anything, it’s that digital channels are where customer engagement is happening and businesses that neglect them do so at their peril.  This presents a great opportunity for savvy marketers.

Today’s topic focuses on social media and how to maximise the different platforms to market your business.  The use of social media should be an important part of your business strategy as a way to market your service or product and enhance your brand.

During turbulent times, managing debt repayment is a priority concern for business owners. 

There is no one size fits all solution to deal with this given the current challenges being faced in business today. Your game plan to navigate this challenge depends on a number of variables such as: the size of your business, external factors, your current debt repayment performance, the special clauses your financier has set out at the time of granting you the loan, the strength of your balance sheet and so on.