BUSINESS COACHING TO HELP SMMES SURVIVE ECONOMIC ONSLAUGHT
There is no denying the bulldozing effects COVID-19 has had on the social and economic lives of people and organisations across the world. Even well-established entities with decades of operational experience have had to shut up shop or drastically reduce their businesses or staff, to avoid the same fate befalling Small Medium and Micro Enterprises (SMMEs). Arnoux Maré has taken it upon himself to reach out and share his expertise with companies looking to survive the pandemic and beyond and will be coaching SMMEs to help them survive.
As a serial entrepreneur and award-winning CEO who has successfully navigated the vast economic terrain and pitfalls that have transpired some of the world’s giant brands such as Rolex; Microsoft and Anglo American, Maré holds the experience; insights and stamina to lead SMMEs away from economic decline.
With the pandemic resulting in more than 3 million people losing their jobs in just three months, adding to South Africa’s already volatile unemployment rate of 30.1%, if more SMMEs take a hit as one of the country’s economic stimulators, the unemployment figures will balloon, thrusting South Africa into social and economic adversity even further.
Through his relentless drive and innovative thinking, Maré provides full-time employment to almost 20,000 employees, stimulating socio-economic benefits, and aiding the South African economy.
As an entrepreneur, Maré believes that coaching has become a leading resource that business leaders should take advantage of to create phenomenally successful businesses. Through his mentoring skills, Maré will help create clarity and direction for businesses to achieve their organisational goals.
Maré cites the matching of skill and experience of employees to positions within the company or organisation as one of the key areas of focus for organisations looking to grow. With the pandemic and the general progress the world has been making towards digitising tasks, employees often have to take on multiple roles, this is especially true in SMMEs and start-ups where human capital budgets are limited.
But you cannot expect employees to assume multiple roles if they have not been trained for them. As a business leader, you must equip your employees with an environment that allows them to engage in lifelong learnings so they can use those skills and plug in whatever shortages the organisations are facing. Through empowering your staff with the necessary skills you are also equipping them with the ability to become problem-solvers who do not have to rely on you to come up with solutions all the time.
But any survival plan concerning businesses and their staff can only be implemented if there is staff to work with. Employee health is, therefore, a non-negotiable element of company policy when creating business strategies to survive the onslaught of COVID-19.
For businesses whose employees cannot work from home, regular health checks must be dutifully conducted and employers must not solemnly rely on the outlines of the Occupational Health and Safety (OSH) Act, the Mine Health and Safety Act and other relevant regulatory policies to give advice, they must seek the best methods of maximising their employees’ safety, often this requires conducting an OSH audit.
Perhaps the most obvious and yet evasive component that most SMMEs require assistance in lies in cash flow. The South African government stepped up to offer financial assistance to businesses most affected by the pandemic. Various reliefs were introduced such as tax relief; the release of disaster relief funds; emergency procurement; wage support through the UIF and funding to small businesses, even going as far securing a support package of R500 billion, approximately 10% of the country’s GDP.
But commendable as these efforts have been, they have not been enough to save every company. This is one of Maré’s cornerstone business coaching focuses, generating and managing cash flow to ensure organisations can survive without relying on external financial support. Through creating budgets; cutting unnecessary expenses; prioritising necessary expenses and searching for other sources of revenue, Maré will guide SMMEs on how to effectively manage and grow their cash flow.
The International Monetary Fund (IMF) chief economist predicted a 4.9% decline in the global economy for 2020, down from the 3% the organisation had projected in April. Other experts estimate that the economic effect of the pandemic could surpass the devastation caused by the 2008 financial crises and even World War II if the ongoing restrictions on commercial activity continue. Things are tough everywhere, and by the looks of things will not be getting easier anytime soon. But SMMEs can equip themselves with the knowledge they need to lessen or protect themselves from the more economic ruin through using business coaching.
