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It took South Africa six years to add 1.4 million jobs to its pre-pandemic economy; and it took just one year to lose these in the aftermath of COVID-19, according to the World Bank. The country saw its biggest economic contraction in a century in 2020. This has had serious implications for the small business sector, with businesses buckling under successive lockdowns, limited tourism and the economic fallout of the virus.
This unprecedented period is a good time to work on strategies to safeguard your business. This should focus on every aspect of operations, including adequate, up-to-date insurance cover to protect what you’ve built.
Here are some top tips for safeguarding your business during this tumultuous time:
Santam understands that running a successful business takes years of hard work and the right partnerships. And when you work hard to succeed, you need good and proper insurance that helps you thrive. No matter the type and size of your business, or your vision for it, you can rely on our in-depth expertise of over 100 years to protect it.
To find out more about our insurance solutions best suited for your business, speak to your intermediary.
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