As society navigates the global pandemic, entrepreneurship continues to be a beacon of hope for recovery of the economy and a significant contributor towards employment in the country.
Through initiatives like the Covid-19 Term Loan Scheme, which was done in partnership with the South African Government to facilitate much needed funding to businesses, Standard Bank seeks to inspire businesses to explore their potential as the driving force of the SA economy while fostering connections and increasing collaborations within their ecosystems.
“We want to drive tangible efforts towards achieving real transformation and the inclusion of MSMEs within the economy whilst traversing the current business landscape. We want to be the partner that businesses can trust and bank on to support them,” says Jenine Zachar, Head of Enterprise & Direct Banking Propositions at Standard Bank.
In the spirit of Standard Bank’s new business proposition titled, “Africa banks on business. Business banks on us”, this re-imagined approach towards business banking sees Standard Bank partnering with influential entrepreneurs and thought leaders and having them share their stories on how they have managed to keep their businesses sustainable or take them to the next level.
As we look towards the rest of 2021, below are some of the solutions that are geared towards helping businesses across their various moments that matter from starting up, managing and growing:
Having a digital presence has become an effective way for businesses to continue operations and reach a new audience. A digital presence includes having a domain registered, finding ways to market your business digitally, e.g. via social media, and having an eCommerce / website presence to be able to display and sell goods and services online.
Standard Bank is making it easier for business owners to take their products and services online with SimplyBlu, which enables a business to create a customisable e-commerce website with point-of-sale features, including collaboration with MasterCard and Google to give customers more visibility with free Google Ads.
“Our MyMoBiz solution focuses on simple affordable pay-as-you-transact banking for small businesses from R5 a month,” says Zachar. “It meets the unique needs of small businesses to receive payments from their customers, pay their suppliers and staff and keep track of their business finances in a way that is simple and affordable.” The offering includes an optional PocketBiz point of sale device at a reduced fee for MyMoBiz customers.
It has become imperative for small businesses to have a business account as this inevitably aligns with running the business operations and could assist you in your journey of making business transactions to build a business profile.
Through the Standard Bank Salary Payments solution, available on Internet Banking, customers get to experience a seamless process when paying their employees’ salaries.
A new and improved BizConnect site provides the insights and information needed for every stage of your business’ development. It offers a wide range of guides, templates and information to equip and empower your business success. “We recognise that being a business owner can be a lonely journey, and that owners often wear numerous hats throughout a day; BizConnect aims to be a source of information to be with you every step of the way of your journey,” says Zachar.
“We hope that through the solutions Standard Bank offers, we are able to lift the limitations that can sometimes hamper business owners on their journey, as we bank on South Africa’s Enterprises for continued growth, success and hope,” concludes Zachar.