With more than 90% of South African SME’s having experienced revenue drops since April 2020 and with many businesses being left vulnerable, the need to support and boost South Africa’s SME sector which currently provides formal jobs for 28% of the population must be prioritised. This support is not just financial, but psychological as well.
“Where people need to innovate and create their own jobs to sustain themselves and provide occupation and income for others, we need to provide the psychological tools to support those with ambition. We cannot allow innovators and entrepreneurs to give up on their dreams and visions at this critical time,” says Deenash Pillay, Head of Enterprise Banking Propositions at Standard Bank, ahead of the Standard Bank SME Summit which kicks-off online on 12 May.
The Standard Bank SME Summit presented for the past three years in partnership with Business Day, provides a vital opportunity for small business owners, entrepreneurs, incubators, franchisors, investors, as well as suppliers to the SME sector to come together and engage with experts in the business, technology, marketing and investment fields.
Business reimagined is what drives this year’s agenda as business growth expert Pavlo Phitidis hosts the four-part series of free SME Summit webinars to guide SA’s small business owners on the road to recovery.
While the Covid crisis has devastated some parts of the SME sector, massive opportunity exists where SME’s have the advantage of being more innovative and nimble in disrupting bigger sector players. According to the National Development plan, by 2030 SME’s will be responsible for 90% of job creation in South Africa.
However, before this can happen, Pillay believes “it has never been more important for entrepreneurs to adopt a can-do mindset amidst all the turmoil.”
The importance of forging a positive attitude is what Phitidis and an expert panel will discuss on 12 May as they dig down into how an entrepreneurial mindset turns crisis into opportunity, by allowing business owners to take control in an uncertain world. “Getting into the right headspace to tackle business recovery is an essential first step in the post-Covid healing process,” says Pillay.
In line with Standard Bank’s commitment to nurturing the prosperity of all South Africans through their Real people, Real dreams, Real business ethos, the SME Summit answers requirement for real knowledge, experience, insight, and tips to those operating in the small business sector.
The first episode of the Standard Bank SME Summit series takes place from 12h00 to 13h30 on Wednesday 12 May. This will be followed by events on 23 June, 21 July and 18 August that will deliver insights into latest industry intelligence, strategies for coming months, as well as practical tips for transforming a business to become more resilient and relevant in a post Covid economy.
To participate in the free event on 12 May, register here.