With the economy slowly re-opening as lockdown restrictions are eased, Yoco has published some interesting data regarding how active SMMEs are post-lockdown.
While trading activity isn’t back to the levels it was in early March, Yoco’s data does seem promising.
The firm’s Small Business Recovery Monitor is an anonymous index used by Yoco to determine how businesses were functioning before and during lockdown.
The data is sourced from Yoco’s SMME merchant base which is 80 000 businesses strong.
Data from that gauge reveals that trading within the SMME sector is currently at 44 percent of what it was pre-lockdown.
“The COVID-19 pandemic and national lockdown has been devastating, but what we are witnessing now is hopefully the start of a story of recovery and resurgence. This data is incredibly valuable to the small business community, and industry leaders in their planning,” explains Yoco co-founder and chief executive officer, Katlego Maphai.
Looking at granular data per province, Northern Cape appears to the largest amount of trading activity as of 21st May with levels being at 68.7 percent of what they were in March.
The Western Cape is performing the worst at 44.1 percent.
All of this data is freely accessible over on the Yoco website and Maphai says there is a good reason for that.
“Making our data more visible is in part a way for us to share how small businesses are coping and recovering. But on a larger scale, it’s about providing authorities and leaders with information to help them make better decisions going forward. Although no one can make 100 percent sound decisions during the pandemic, we can do more with what we have and feel more comfortable with our choices,” the CEO explains.
You can find all of this data at this URL. Data is updated daily so if you have an interest in how SMMEs are coping (or not) at the moment we recommend bookmarking that page.