SMEs and COVID-19

Sourced from SAP The outbreak of COVID-19 has caused disruption across the globe and has led to two simultaneous crises. The first is the illness itself – with tens of thousands of fatalities globally and healthcare systems strained, or at capacity. The second is an economic slump, resulting from the closing of borders and supply chain disruptions. Many countries have also imposed strict lockdown and social distancing measures. While vital to prevent the spread of the virus, it is worth remembering the very real economic impact measures like this can and are having in South Africa, and around the world. Unlike large enterprises, which often have a level of resilience built-in, many small and medium-sized enterprises (SMEs) still rely on having customers physically present in the shop, rest...