SEEKING MIRACLES OVER MISERY IN BUSINESS

Events that have taken place off late in the country and generally the region, suggest that we are not in the best place to be in our happiest of moods.
If anything, we are battling to stay positive in what seems a negative world.

The state of the economy is neither one that is encouraging for business start-ups nor already existing ones, as the challenges faced by government inevitably have an effect on the man on the street.
We have suppliers complaining of being unpaid for long periods of time and this could lead to some businesses closing. And the decreasing buying power also even affects all businesses including street vendors.
The statistics on the prosperity of local businesses, especially of Micro Small and Medium Enterprises (MSME) is also quite equally depressing.

Study

I stumbled upon a study on the web on how these businesses are doing and really it leaves little to hope for. The study states that the Micro Finance Unit, a subsidiary of the Ministry of Finance, in 2015 commissioned, the FinScope MSME Survey Swaziland 2017.

The survey among other things sought to determine the performance of the MSME sector as well establishing the level of financial inclusion of the MSME sector in Eswatini. While it shows that the overall MSME sector in the country as of January 2017, was estimated to consist of 59 283 business owners, most worryingly is that most of these businesses were found to not be fully compliant in terms of their registration processes and therefore, they struggled to qualify for financial loans.

Financial

According to the survey results, about three in five business owners did not have a bank account at the time. That said, tough 69 per cent of business owners have a bank account. Of those with bank accounts, only 14 per cent are in the name of the business and 86 per cent use their personal bank account to manage their businesses’ financial needs.

I quote this because each day people are encouraged to go into business and help contribute to the economy, but the government also has to play its own part in supporting these MSMEs better, especially in terms of compliance.
Whenever there are financial difficulties in a home, there is also a lot of strife. This is because now there is less money to pay bills, send children to school and also to keep up with a lifestyle one may have been used to.

violence

We have seen this in the past lead many to suicides and domestic violence. But it does not have to be that way. You can survive and stay positive despite the negative situation you are facing.
It was singer Donny who once sang, “Ngeke kuhlale kunjena, basheshe bahleka,” loosely translated as, “The situation cannot be like this forever, they laughed at me too soon.” Indeed history has shown us that governments and countries do come through their worst financial patches. However, it is key that while in that bad patch we are able to stay hopeful.

challenges

We wait with bathed breathe at the new interventions that the new Cabinet will bring to rescue MSME instead of sinking them deeper into challenges.
It is already encouraging that the new Minister of Commerce Industry and Trade Manqoba Khumalo, has hit the ground running and seems to have the best interest of business at heart.
MSMEs need all the support they can get from government if they are indeed to be seen as the solution to assisting to turning around the economy and that starts with helping the compliance issue to be easier and better.

It also goes on to issues of being more lenient on penalties of trading licences, so that these businesses are allowed to operate and make money so they can be in a position to be taxed instead of them not being fully operational.
Many businesses are hoping that when the budget speech comes, there will be pro MSME policies aimed at Buy Swazi products and services and that local consultants will also be chosen for major paying jobs over international ones. The whole procurement system has to support locals more.

positive

Meanwhile, we have to be in the right spiritual space to be able to stay positive. We like to make things big, complex and complicated, making ourselves feel smaller than the many ‘dark forces’ we encounter in our lives. It does not have to be that way. We need to stay in hope and keep playing our part.

So here is my advice as you start the new week, next week and it comes in the form of a quote; “Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that most frightens us. We ask ourselves, who am I to be brilliant, gorgeous, talented, fabulous? Actually, who are you not to be? You are a child of God. Your playing small does not serve the world.” ~ Marianne Williamson.
Have a positive week and keep the faith!

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