Mental health challenges have reached a new global high with 42% of adults worldwide saying they feel a lot of worry, 41% reporting being stressed and 28% experiencing unhappiness
Burnout is also on the rise, with 49% of people suffering from these symptoms at work. Hybrid working is adding to people’s stress by increasing a sense of isolation, with the fear and uncertainty of the modern world making us ever more anxious.
Mentorship could be the game-changer South African entrepreneurs need, especially as 70% of mentored businesses experience a five-year increase in survival rate. Sam Clarke, CEO of Skynamo, says entrepreneurs are needed now more than ever since they see opportunities, capitalise on these, and, in doing so, create the businesses of the future. But they urgently need support if they are to succeed.
In an ever-increasingly digital world, personalised customer relationships are crucial for business success and quality data bridges the gap. However, according to a recent study on the State of Customer Relationship Management (CRM) Data Health, 44% of respondents estimate that their company loses over 10% in annual revenue due to poor quality CRM data which results in the loss of customers.
2022 was set to be a year of growth and recovery for small businesses, however, the war in Ukraine is beginning to thwart this projection. The World Trade Organisation has recently slashed its global growth forecast to 2,8% from 4,1% before the war. This, coupled with supply chain disruptions and rising fuel and food prices, is set to have a further negative impact.
The latest South African Chamber of Commerce and Industry (SACCI) Business Confidence Index rose to a three-month high of 94.1 up from 92 in the previous month. This is attributed to the recovery of external trade and retail sales following the easing of Covid-19 restrictions and the end of the travel ban imposed by several countries.
Businesses and consumers alike have had to weather several shocks over the past two years. In this article, I advise how businesses can make 2022 a year for rebuilding and taking advantage of new opportunities.
Following South African President Cyril Ramaphosa’s announcement that the fourth wave of COVID-19 is expected to begin in December, many businesses face uncertainty. This is compounded with the issue of supply-chain disruption which the pandemic has wrought worldwide.
Organisations need to be serious about creativity if they want to drive sustainable business success across global markets.
It’s often forgotten that business is a creative pursuit. Every business, be it a technology giant such as Microsoft, or a tiny corner store serving one community, stems from a single idea. An idea that’s born from creative intent, but can be lost in deadlines, bottom lines and lines of business. Success today is still defined by return on investment (ROI) and numbers, but it’s strengthened by the organisation’s ability to build a culture of creativity. In the era of the always-on business, customer and employee, this is as invaluable as ROI.