The road to recovery for SME's
“The world turns on a dime, and though we express cautious optimism for the future, the pandemic has taught us to be prepared for change at a moment’s notice.”
Listening and quickly responding to the essential needs of your customers during this time will not only unlock opportunities but will introduce valuable moments of stability through progress.
Some small businesses may find an unexpected silver lining to lockdown. For example, many SME hardware stores have been trading at 150% compared to pre-COVID numbers. This is likely due to people finding themselves at home with the time to complete all their sidelined DIY projects.
Yoco in partnership with IOL has developed a small business transaction data resource.
Updated daily with data from 80 000 Yoco merchants, it shows the impact of Covid-19 on small businesses, with an average recovery of 45% as of today. You can view more stats here.
Source | Yolisa Tswana, IOL