How to Ensure that you, your Family & your Business Survive the Current Pandemic



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Across the globe businesses as a whole are faced with unique challenges caused by the aptly named novel coronavirus pandemic. Although many people yearn to finally stop wearing masks, book holidays to their favourite destinations, or simply go out to dinner with family and friends, the harsh reality is that infections in SA are yet to peak and we are a long way off fulfilling those desires.

Many businesses are still to reach their pre-covid earnings and are not even covering their costs. The tourism, leisure and entertainment industry have been the most affected, but many small and medium sized businesses in a variety of sectors are in no position to resume full operations.

What should you be doing to ensure ongoing business continuity to protect you, your family and your business?

  • Cost Management: Thoroughly analyze your cost base. This exercise should be undertaken as if your life depended on its reduction. It very well may! Segment your cost base into core and non-core expenses and be ruthless with non-core and wasteful expenditure. A review of the costs you are paying on your investment portfolio is also recommended.
  • Don’t be Penny Wise and Pound Foolish: It’s not always the wisest decision to reduce or cancel short term insurance, life cover and investment premiums without advice. Seek professional guidance and review these expenses holistically to ensure you are getting value for your spend and secondly that you and your business are adequately protected.
  • Refrain from Making Emotional or Sentimental Decisions: As human beings we are highly influenced by emotions. Seeking professional, independent advice is the best strategy to take emotions out of your decision-making process.
  • Be Innovative to Maximize Revenue: Adopt a focused strategy on the core strengths of your business. Stay close to your customers and key service providers. Continue searching for new and innovative ways to increase your revenue lines from your current client base or find new ones!
  • Pro-actively Manage Cash Returns: Many businesses do not engage in proper treasury management. Cash deposits are generally in a single low yielding account with no strategy to maximize yields based on working capital needs. In this low interest rate environment, ensure your business cash is invested appropriately in line with cash flow needs and yields are maximized.
  • Be Generous: This may sound counter intuitive, but this crisis has dealt a severe blow to the less fortunate and there should always be room for a generous spirit, in word and deed.


The above principles apply equally to your business and your family. Obtaining independent advice on these matters can be the difference between your business or family successfully navigating the current crisis and building a solid foundation for the future or facing potential ruin.

In times like these having a trusted advisor is worth its weight in gold!

Is it time for you to engage with an Activ8 Professional?

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