The effects of the level 4 lockdown on businesses
On the 3rd of May 2020, Minister of Employment and Labour Thulas Nxesi released the latest regulations for businesses in order to operate under the level 4 lockdown. Although this signals a positive move towards re-opening the economy. Many businesses that are allowed to operate during the level 4 lockdown are still unaware of the steps that need to be taken to comply with the latest level 4 regulations published by the Ministry of Employment and Labour.
Covi-ID hosted a webinar on the 16th of May 2020 in order to educate attendees on the benefits that our platform provides to organisations. Our goal at Covi-ID is to provide a safe platform for employees and customers to re-enter society as the lockdown regulations relax but unfortunately as we found out in the Q&A segment of the webinar there are still business owners struggling to understand and comply with the latest regulations. We had a one business owner desperate to open up her dog parlour, as she is currently carrying overheads of R150 000 a month but did not have access to the tools to enable her to open her business again. Fortunately, I was able to refer her to https://www.bizportal.gov.za/ which allows allows you to generate a business permits if you are an essential service under level 4 lockdowns.
Although I head up the finance team at Covi-ID, I was also a business owner before. I ran a business in Johannesburg called, Dr Spin Laundry. One of the many problems I faced as a business owner was getting access to the right tools which I needed to open my business. One of the tools I urgently needed was a card machine but the problem with card machines they were seen as a luxury that only well capitalised established businesses had access to. For an aspiring business owner that needed to succeed. It was very important that my business is able to process card payments however I lacked the finances to purchase a card machine. Until I came across a company called Yoco.
Besides solving my problem by providing an affordable card machine. Yoco also financed the card machine based on my future transactions this allowed me to invest the money I would have spent on getting a card machine on my core business which was doing peoples laundry. Yoco has solved the same problem for 80 000 business owners in South Africa and as an entrepreneur and former business I am so grateful for how they not only allowed me open my business but their solution enabled me to thrive.
I joined Covi-ID for that very same reason. I wanted to help businesses open again so they have a better chance to get through this difficult period but not only that so they can learn from it and thrive afterwards. This pandemic provides the greatest opportunity for businesses to learn, adapt and thrive. Although it will be really difficult, the lessons learnt from this experience will be used to prosper in the future.
If you would like to learn how Covi-ID is helping businesses open during the pandemic visit our website www.coviid.me
Our team has also summarised all the level 4 regulations which is accessible here https://bit.ly/level4regcovid
Michael Mtenga — Finance Lead at Covi-ID
