The COVID-19 is disrupting business for Micro, Small, and Medium Enterprises (MSMEs) as we know it. For small enterprises, this disruption can have a substantial effect on business operations. Our fantastic and hardworking health workers around the world are working hard to end the pandemic. Here are five ways MSMEs in Africa can manage the disruption caused by the COVID-19.
Maintain your business digital presence
It is essential in this age to have a digital presence for your MSME. Digital presence includes your business’ Instagram, website, Facebook, Twitter, etc. These digital platforms are free marketing tools for your business. If your small enterprise does not have an online presence, now is an excellent time to get started with it. Regularly update these platforms during this downtime. Your customers are online, and continuously updating your pages will keep your product/service on their minds. Social distancing has caused many companies to allow their employees to work online from home. Also, there are a lot of webinars going on now. People are meeting online. Maintaining your online presence will reinforce your brand. Your online presence is also a crucial part of your marketing strategy, why not focus on it while you are at home anyway.
Maintain communication with employees
It doesn’t matter if your small business has only five employees, you should still communicate with them while they are off work due to the COVID-19. As your employees are either off work or working from home, make sure communication is going on frequently. Communication can be simply a ‘good morning’ or any updates you have regarding business operations. Just stay in touch! For MSMEs, your small team is an integral part of your business. Frequently communicating shows your employees that you care. It also shows that they are an essential part of your business.
Find MSMEs assistance
In most countries, the authorities are providing different types of support for small businesses. Check your local or federal government and inquire about what aid is available for your small business. Contact your local bank and work on postponing loan payments for now. Most banks will be sympathetic at this point and understand the current disruption due to COVID-19. In Nigeria, the Central Bank announced a credit relief that benefits Small and Medium Enterprises. Research how available MSMEs relief could benefit your small business.
Prepare
Use this time to develop a new strategy for your small business. Prepare to hit the ground running once COVID-19 has ended. Monitor your inventory, check your budget, and be aware of the current status of your business.
Don’t lose hope
As the owner or manager of a small business, you must stay positive. Your business might be slow right now, but it won’t always be this way. Tough times don’t last, but tough people, do!! You are a winner! That’s why you started this business in the first place!! Don’t give up!! Need help with business mentoring, contact KilSah Consulting.
