Business#OFMBusinessHour: SA businesses that adapted their model to Covid-19 conditions are now thriving
─── 22:55 Tue, 04 May 2021
South African enterprises that adapted to the changing business environment brought on by Covid-19, are amongst those that are managing to thrive despite the pressures placed on the global economy.
The Managing Director of Retail Capital, Miguel Da Silva, tells the Business Hour on Tuesday (4 May) their February 2021 survey categorises businesses that are thriving despite the pandemic into three categories: a) businesses that were deemed essential and operated during the hard lockdowns; enterprises that benefited from remote working conditions and home improvement projects; as well as those that adapted to the changing environment by pivoting their businesses and utilising ecommerce platforms. Retail Capital’s survey found that 7,9% of businesses’ financial performance improved over lockdown; 4,2% employed more staff; 9,2% of businesses’ profits increased; 11,7% reported that profits stayed the same; and 9,2% saw their turnover go up.
#OFMBusinessHour: SA businesses that adapted their model to Covid-19 conditions are now thriving: