Risk Mitigation Support for Small Business
Small businesses are critical for the growth and development of the national economy and small manufacturers are key employers and revenue generators for marginalised geographies. However, the challenges faced by small businesses are often very different to those of large and established firms. This is why we at B&M Analysts provide targeted small business support to address the specific needs of emerging enterprises.
Indo Designs is a small, 100% black women owned and run business. Indo Designs specialises in the design, manufacturing and refurbishment of upholstery furniture and accessories for the public, government owned companies and private owned companies. Indo Designs joined the eThekwini Furniture Cluster (EFC), facilitated and managed by B&M Analysts, and have been active participants in the Cluster’s Small Business Working Group programme.
Throughout the COVID-19 crisis, the Cluster implemented a structured programme of support targeted at small, medium and micro enterprises (SMEs), with the goal of supporting SMEs to understand and prepare for COVID-19 compliance requirements and risks and ultimately recover from the impact of the resultant constrained economic environment.
Through this programme, Indo Designs were able to not only identify and mitigate their most immediate risks, ensure compliance to the relevant legislation and regulations, but also to access shared learnings from other SMEs experiencing similar challenges. The collective knowledge pool of SME response and risk mitigation strategies proved invaluable to their response to the COVID-19 crisis.