Use your B-BBEE spend to fight the adverse impact of COVID-19 on SA’s Small Businesses
Are you looking for a relevant and meaningful ESD and SED solution that can empower SMMEs to be more financially savvy and resilient?
SAICA Enterprise Development (SAICA ED) and The Hope Factory are doing our part to support SMMEs nationally as we rebuild our economy from strength to strength. Thus we are calling on Corporate SA to get involved to help SMMEs.
A recent survey from FinFind, in partnership with SAICA ED and various other partners, sampled 15,000 SMMEs across all sectors in all provinces received a response rate of almost 10%. Some staggering stats that were highlighted included:
- 60% of SMMEs were not able to operate during lockdown level 5.
- 42.7% of businesses permanently closed due to the lockdown and COVID, 56,4% of these businesses had outdated management accounts.
- 64.7% of SMMEs highlighted that the number one item that they would require assistance in the future with, is access to funding to grow an existing business.
- 74% of applicants who applied for relief funding were rejected.
Furthermore, specifically with our SED 2020 programme entrepreneurs, we saw a 57% decline in the ability entrepreneurs have to meet their family’s basic needs, due to the impact of Covid-19.
SAICA ED offers strategic Enterprise and Supplier (ESD) programmes and customised projects in order to grow South Africa’s entrepreneurial sector through advancing the sustainable growth of small Black-owned businesses. They offer financial excellence to entrepreneurs through the chartered accountancy profession.
The Hope Factory delivers impactful Socio-Economic and Skills Development initiatives resulting in mobilising economic activity for unemployed black South African citizens (as per the B-BBEE Codes).
If you would like to learn more, we are available to set up a MS Teams meeting or phone call to discuss how we could help you earn those scorecard points, aligned with your ESD and/or SED budget.