• REVITALISING OODI WEAVERSJuly 29, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted • Debswana, De Beers move to help • preserve cultural heritage DEBSWANA Diamond Company and De Beers Group have embarked on a collaborative initiative to support… Read more: REVITALISING OODI WEAVERS
  • HIV/ AIDS fight compromised?  July 29, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted   Monitoring in limbo due to CD4, viral reagents shortage CALISTUS BOSALETSWE editors@thepatriot.co.bw   Botswana was hit by a shortage of CD4 and viral screening reagents… Read more: HIV/ AIDS fight compromised?  
  • Foreign reserves get depletedJuly 28, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted Significant drop linked to decline in diamonds revenue Reserves went down by P0.9 billion as 31st May 2025 Govt forced to borrow more and more Ndaba… Read more: Foreign reserves get depleted
  • Pennywise Investments (Pty) LtdJuly 28, 2025
    RelatedPosts Pennywise Investments (Pty) Ltd Solace Pty Ltd – Farm Worker CHOPPIES – Distribution Center Manager
  • Solace Pty Ltd – Farm WorkerJuly 28, 2025
    RelatedPosts Pennywise Investments (Pty) Ltd Solace Pty Ltd – Farm Worker CHOPPIES – Distribution Center Manager
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Saturday, August 2, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home News

THE SURVIVAL OF SMALL BUSINESSES POST SoE

patriot by patriot
November 11, 2021
in News
235
0
491
SHARES
1.4k
VIEWS
ShareShareShare

AMBROSE BATSWALELANG*

The State of Emergency (SoE) in Botswana came to an end on the first of October 2021. COVID-19 taught us the importance of factoring in the internet and digitization into business processes.  It has highlighted the importance of a contingency and survival planning. The pandemic impacted the global economy dismally and small and medium businesses took the hardest knock. The majority of these companies did not have measures in place to weather financial storms let alone one of this magnitude.

RelatedPosts

HIV/ AIDS fight compromised?  

Cabinet hurts Speaker, MPs

BLLAHWU BLOCKED

Small and medium sized enterprises play a vital role in the society’s social inclusivity, local employment, and development in rural areas. Their survival is mandatory for building an empowered and self-sufficient nation.

Some of the major challenges small businesses faced and part of the reasons why they failed to stay afloat are: disruptions in supply chains, cash flow challenges, less demand for certain goods and services, failure to meet delivery dates, and lessened risk enthusiasm by financial market. Experts cited that most small businesses identified the following as their biggest sources of struggle currently: loan repayments, salary payments, and rent.

First and foremost, successful and stable businesses should have a solid business plan with a comprehensive marketing plan and accurate financial plan which will allow you to better understand the intricacies of your business and be in a better position to make it a success. Furthermore, it will make it simpler to access financial aid from potential investors and government schemes.

Earlier this year, the president of Botswana, His Excellency, Dr. Mokgweetsi Eric Masisi announced that small businesses would soon be able to operate from home without licenses. This eliminates a barrier to entry and presents an opportunity for small businesses to be started with ease and those existing to increase profits. Capitalizing on initiatives presented by the government is a sure way of ensuring your business grows. Albert Einstein once stated that “in the middle of difficulty comes opportunity.” Even in difficult times, opportunities for growth, development and increase among SMMEs can still be found and taken advantage of.

Additionally, there are a few things that small businesses may consider in order to survive. This can involve spending less on rental by occupying smaller office spaces, sharing office spaces, adopting lean and mean structure, and for some, opting for solar energy as opposed to generators. SMMEs can also encourage their staff to work on alternating days, strictly work from home, execute temporary pay cuts, or have staff rotations. SMMEs highlighted the following as desired solutions for their business challenges: lower interest loans, and the relaxation of loan payments. If small businesses are going to survive, they require the collective efforts of all sectors.

Moreover, developing a solid financial plan is important for the sustenance and longevity of a business. At this time, businesses may have to revisit their financial plans and begin identifying alternate streams of revenue. Getting more funds into the business through diversification will be paramount for the survival of small businesses at this time. A small online boutique that has been specializing in selling clothing may now diversify and begin selling wigs and weaves, and a tuck-shop lady who has strictly been selling sweets and salty snacks may begin cooking lunch for her customers.

At this point-in-time, businesses will have to reconsider their expenditures. Going back to the financial plans and identifying costs that are not imperative for the day-to-day operations of the business will be vital in helping owners spend less and retain more profit. This profit can then either be reinvested into the business or placed in the company’s reserve.

A good credit score is very important for small businesses. Acquiring funding is a key way for businesses to expand, therefore, diligently paying back creditors and using funds received to grow the business will make it more attractive to both funders and investors. A credit score is a numeric representation ranging from 300 to 850 signifying how likely you are to pay back the amount of debt you incur.

*FirstCred COO

Related

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

Citizen participation in Constitution Making: PART II

Next Post

NBFI sector sails through Covid19 storm

Related Posts

HIV/ AIDS fight compromised?  
News

HIV/ AIDS fight compromised?  

July 29, 2025
Cabinet hurts Speaker, MPs
News

Cabinet hurts Speaker, MPs

July 28, 2025
BLLAHWU BLOCKED
News

BLLAHWU BLOCKED

July 23, 2025
UDC govt on edge
News

UDC govt on edge

July 22, 2025
KwDC P13 million scandal
News

KwDC P13 million scandal

July 21, 2025
I’M NOT ASKING FOR CHANGE . I’M DEMANDING IT – BOKO
News

I’M NOT ASKING FOR CHANGE . I’M DEMANDING IT – BOKO

July 18, 2025
Next Post
NBFI sector sails through Covid19 storm

NBFI sector sails through Covid19 storm

  • REVITALISING OODI WEAVERSJuly 29, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted • Debswana, De Beers move to help • preserve cultural heritage DEBSWANA Diamond Company and De Beers Group have embarked on a collaborative initiative to support… Read more: REVITALISING OODI WEAVERS
  • HIV/ AIDS fight compromised?  July 29, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted   Monitoring in limbo due to CD4, viral reagents shortage CALISTUS BOSALETSWE editors@thepatriot.co.bw   Botswana was hit by a shortage of CD4 and viral screening reagents… Read more: HIV/ AIDS fight compromised?  
  • Foreign reserves get depletedJuly 28, 2025
    RelatedPosts REVITALISING OODI WEAVERS HIV/ AIDS fight compromised?   Foreign reserves get depleted Significant drop linked to decline in diamonds revenue Reserves went down by P0.9 billion as 31st May 2025 Govt forced to borrow more and more Ndaba… Read more: Foreign reserves get depleted
  • Pennywise Investments (Pty) LtdJuly 28, 2025
    RelatedPosts Pennywise Investments (Pty) Ltd Solace Pty Ltd – Farm Worker CHOPPIES – Distribution Center Manager
  • Solace Pty Ltd – Farm WorkerJuly 28, 2025
    RelatedPosts Pennywise Investments (Pty) Ltd Solace Pty Ltd – Farm Worker CHOPPIES – Distribution Center Manager
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?