While we’re still adjusting to the “new normal,” we’ve already seen a lot of changes in the way we work, and many of us have now opted to work from home. But working from home has a few limits when it comes to business. With no professional business address to receive your mails, no professional location to meet your clients, a lack of focus you might only find in an office setting…
Enter Virtual Office: for those who don’t always need an office, but need to run their business like they had one! Virtual Office fills in where Work From Home can’t, with a professional address for your business, mail reception, scan & send, meeting room & day office access. And how’s that important for your business? It’s all here 👇
Corporate business address & mail management
The main feature of Virtual Office is a professional business address. It’s the solution for those who don’t really need a physical office but still need a “place.” With an address assigned to your business, not only will you get a really great, really professional address to get your mails delivered right at a central business location, but all your mails will be managed by a dedicated team: mail reception, email notification or even scanning & sending of mails for fast & paperless delivery! ♻️
Working from home is great, until you realise your home address just does not quite cut it for your business! Why? Because the perception and professionalism that comes with a physical office (or the appearance of one!) is crucial to build reputation and credibility, especially if you’re still building up your client base. Why’s that so? Well, what clients want to see is a professional and reliable business, and sometimes that just starts with an address that’s not your home address! 🏡
Low cost & easy setup
If there’s one thing that’s for sure with Virtual Office (v/s an actual physical office), it’s that it is much much easier to set up and…boy, is it cheaper! Setting up your business in a Virtual Office operated location is just a document away and it allows you to use your new & freshly registered address in no time. The cost? Cheaper than paying rent, no doubt. But really, packages can start as low as Rs 1,250 per month depending on the services you opt for. Not bad for an office!
Physical place to meet & work
While working from home sounds great, sometimes you still need a place to meet or work! That’s when additional features like Meeting Room and Day Use Office access included in your Virtual Office membership comes in handy. This way you can meet clients in a business setting and not in your living room 👎
At THE HIVE, we’re taking this to the next level with our Virtual Office + and Virtual Office ++. Get full access to our meeting rooms and day offices at ALL our workplaces around the island. Yep, that’s 4 locations (St Pierre, Curepipe, Pierrefonds & Beau Plan) to meet clients closer to where they are and get your team all in one place for work sessions!
Support for scaling
When businesses grow quickly, scaling can become a bit of a hassle. Accommodating for more employees brings challenges that some of us could do without (read: relocation and the additional costs it incurs). With a Virtual Office, there’s really none of that since it’s…wait for it…virtual 🤯 So, you can scale up your business whenever you need it without either:
1) Having to choose between cramping all your new employees into the small space you’re renting; or
2) Signing a big fat check to relocate somewhere bigger
Setting up your Virtual Office at THE HIVE
Virtual Office at THE HIVE is the best of all the above, with three memberships:
✉️ Virtual Office
Our basic offer gets you the very best of Virtual Office: your professional address at THE HIVE, mail reception & email notifications!
✉️ 🗓 Virtual Office +
And if you want to get more from your Virtual Office: sign up to our Virtual Office + and add Scan & Send and Meeting Room access to your monthly package!
✉️ 🗓 🖥 Virtual Office ++
The ultimate Virtual Office membership with Day Use Office access for those who need a place to work a couple of times a month.
More than one-third of small businesses lack social media presence. Shocking? Well not when their priorities lie elsewhere, with the top one being cash flow management. Still, in making time for social media, local SMEs have a lot to win — and even more so in this new normal. As the trends show clear growth in social media use year after year, these numbers alone might just be the reason to go social. Let’s have a look at how the trends in social media use make it worth it (and other reasons why!) 📈
What do the trends say?*
If we’re going global…
There are 3.80 billion people on social media (that’s 2 923 times our population 💥) who spend an average 6 hours and 43 minutes on the internet, 2 hours 24 minutes of which are spent on…you guessed it: social media!
…and if we go local
840 000 of us are on social media
760 000 of us are on Facebook, which means that on Facebook alone, your ads can reach up to 70% vs. our population
On Instagram, you can reach 22% vs. our population (with 240 000 local users)
LinkedIn? 28% vs. our population (with 280 000 users)
(Kind of) Everyone’s on social media and your business should too!
Looking for other reasons why? We’ve got a few more 👇
Other reason 1️⃣: Could it BE any easier?**
Social media marketing has often been left to specialists because, for something that seems easy, it’s really not (that’s why it’s a whole job in the first place!). But if you’re getting started? Well, for that, it’s getting easier and easier.
First off, a lot of it is accessible and fairly easy to grasp. With platforms lowering their barrier to entry, this means that small business owners everywhere now have more opportunities to create their own ads and reach their audience in a few clicks. To clear out any doubts, just think: if it’s good enough, get it out. 840K users in Mauritius alone, remember? There’s plenty of time to learn and get better! You got this 💪
“54% of people believe that businesses engaged with clients and followers on Facebook are more focused on providing better service than those that did not.”
Other reason 2️⃣: You’re (probably) already good at it
If there’s one thing that pretty much any social media goes on and on about, it’s community. As a small business, chances are you already are very community-focused. And as the need for 1:1 connection surges (especially post-COVID), the sense of community found typically in local small businesses offline will work just as well (and even wider) on social media. This means one thing: you’ve built your community (no matter how small) and you can grow it even bigger on social media. So take what you know and bring it online!
Other reason 3️⃣: It’s all about branding
If all the trends in social media use mean anything, above anything else they mean: brand awareness. With over 70% of the population on social media, that’s surely one way to get your business out there and right in front of everyone’s s̶a̶l̶a̶d̶ eyes. #smallisbeautiful, why not show it?
Because as consumers’ use of social media increases, it’s more and more the place they’re looking for for product and branding information. And if this is the place where people come to know your brand, it is also the place where they become loyal customers. Plus, being on social media just makes your brand shine: 54% of people believe that businesses engaged with clients and followers on Facebook are more focused on providing better service than those that did not.
“50% of small businesses agree social media helps them increase sales and within five years, 70% of them see ROI”
Other reason 4️⃣: Think cheap(er)
Going social is free for the most part and the “free” can get the job done if you just want to be out there. However, if you’re looking for that “70% of the population” ad reach, you’ll have to swipe that card! But the good news is: even then, advertising on social media is much cheaper than traditional advertising. Got $1? That’s enough for Facebook! Well, you get what we mean: it’s just cheap(er) 🏷
Other reason 5️⃣: Get leads, make sales!
If it’s easy to communicate about your brand, it’s also never been easier for customers to express their interest in it. This makes lead generation one of the biggest benefits of social media advertising. And ultimately all the branding, community fostering and the lead generation takes you to one place: sales. More proof: more than 50% of small businesses agree social media helps them increase sales and within five years, 70% of them see ROI. The bottom line really is that no matter what you’re selling, social media can help you sell it.
(Kind of) Everyone’s on social media and your business should too!
*Our trend source: The Digital Global Report 2020 by Hootsuite. Get it here 👈
**We took the “Which Friends character are you?” Buzzfeed quiz and yes, we got Chandler Bing!
The freelance economy is a labour market for one-off jobs, where companies hire self-employed individuals — freelancers — to undertake a specific job over a specific period of time.
With the shift towards self-employment and the advantages it entails, the freelance economy has grown over the years, currently being the strongest it has ever been in decades. Better yet, it is undoubtedly bound to grow more with Forbes describing freelancing as “a force in the new economy” since the COVID-19 outbreak.
And this growth comes with more options to freelancers and the companies that hire them, says a 2019 report by Upwork, thus providing companies with benefits they would not be able to access in a traditional labour market. What are those benefits? We’ve listed the top reasons why small businesses (and big ones too!) should hire freelancers and where to find them.
Why should SMEs hire freelancers?
Hiring freelancers allows businesses to optimise their operational costs, as they come with lower overheads. For SMEs particularly, freelancer work can help them check off one-off growth projects, crossing off the need for employee training while allowing employees focus on what they are already good at!
By the nature of their job, freelancers are more flexible than part-time and full-time employees. Not locked up in traditional work hours, they set up their own schedule and often have more room for adaptability.
Freelance work also allows companies to hire only when they need to get a specific job done, allowing them to concurrently work with a network of freelancers with different skill sets and covering a wide variety of fields. This flexibility can be an essential part of business growth for SMEs.
Freelancers are more often than not experts in their fields and this means one thing: they get things done and they get things done fast! According to a study by Upwork, 83% of clients said that hiring freelancers has sped up turnaround times for their projects.
And since they know how to get the job done, they are the perfect match for SMEs who are looking for top-tier talents to complete specific projects that will add value to their business!
So now, where to find them?
Now that we’ve established the why, you might wonder where to find the right freelancer for the job? Here’s a list:
MeetYourJob launched a Freelancing platform that links freelancers to the companies looking to hire them for specific jobs. Through the platform, companies register their “mission” — what kind of jobs they are looking to complete — and MeetYourJob will find you the right freelancer for the job!
If you’re looking to up your company’s digital marketing game, there’s no doubt you will find what you need within the Digital Marketing Mauritius community. With over 1300 professionals, browse for the right person from a wide range of fields: SEO, Community Management, Web Development and more.
On Upwork, one of the leading global freelancing platforms, you’ll find a number of freelancers from Mauritius (and elsewhere!), from developers to designers, copywriters, campaign managers, marketers and more. Post your job and Upwork will shortlist the best freelancers for what you’re looking for!
Petit entretien avec nos membres, Olivier et Céline de Rescue Emergency Ambulance. Ils nous parlent de leur parcours, de leur mission : « le secours à la portée de tous » et de leurs futurs projets 👇
Parlez-nous de vous…qui êtes-vous et que faites-vous ?
Olivier Brunel: Franco-mauricien, j’ai plus de 15 ans d’expérience dans le domaine du secours. J’ai obtenu mon diplôme d’ambulancier en France, où j’ai exercé plusieurs années pour une société d’ambulance. Puis j’ai poursuivi ma carrière en Suisse, pays reconnu pour avoir un niveau supérieur et autonome dans les prises en charge du secours à la personne.
J’ai obtenu avec succès mon diplôme de Technicien Ambulance en Suisse pour exercer sur le canton de Genève.
Parallèlement, j’officie en tant que Sapeur-Pompier dans le département de la Haute-Savoie en France. J’ai l’avantage d’avoir acquis de l’expérience dans 2 pays avec des systèmes de secours totalement différents !
Après plusieurs années de réflexions sur le secours à Maurice, je décide de me lancer dans une grande aventure pour mettre à disposition mon expérience et mes compétences pour mon pays.Dr Céline Kaiser: Originaire de Suisse, j’ai effectué mes études à l’Université de Genève et obtenu mon Diplôme Fédérale de Médecin. Passionnée par les urgences et le secours préhospitalier, j’ai exercé aux urgences adultes des HUG et j’ai travaillé pour l’entreprise d’ambulance Swiss Ambulance Rescue.
J’ai suivi de nombreuses formations et je suis ainsi certifiée ACLS et réanimateur médico-chirurgical. J’ai participé à des congrès toujours sur les thèmes de la médecine générale et des urgences. Suite à une sélection de l’Université de Médecine de Genève, j’ai été retenue pour présenter ma recherche médicale au congrès international « WONCA ».
Après de nombreuses discussions avec Olivier, et grâce à mon bagage en médecine et secours, j’ai décidé de venir transmettre une partie de mon savoir et savoir-faire, ainsi que l’expertise médicale suisse, au travers de l’entreprise REA pour la population de l’Île Maurice.
« Notre désir et but est d’importer un savoir-faire international et de promouvoir le secours à personne afin de faire de Maurice un exemple en terme de secours de proximité pour toute l’Afrique de l’Est »
Que faites-vous à Rescue Emergency Ambulance (REA) ?
DCK: REA voit le jour le 4 juin 2018 après plusieurs années de réflexions et de prospections sur le secours à l’Ile Maurice. Notre désir et but est d’importer un savoir-faire international et de promouvoir le secours à personne afin de faire de Maurice un exemple en terme de secours de proximité pour toute l’Afrique de l’Est. Pour cela, nous agissons sur le premier maillon de la chaine de survie: la population de 9 à 99 ans.
Au vu des nombreux facteurs de risque cardiovasculaire (diabète, hypertension, tabac, …) et donc du risque élevé de problème cardiaque pouvant toucher n’importe lequel d’entre nous, notre objectif est de former chaque individu aux gestes de réanimation cardiovasculaire et à l’utilisation des défibrillateurs. Ces défibrillateurs doivent être distribués et accessible dans le maximum d’espace privé et public car cet appareil a déjà fait ses preuves pour augmenter les chances de survie en cas d’arrêt cardiaque.
Nous allons donc promouvoir leur vente avec des appareils de qualité à prix abordable et sensibiliser un maximum de personnes à leur utilisation avec une formation BLS-AED reconnue par une attestation d’une validité de 2 ans. Dans l’idée d’équiper les services de secours avec du matériel de qualité et accessible, nous vendons en plus des défibrillateurs tous les équipements que l’on peut trouver dans une ambulance: spineboard, monitoring, brancard, chaise d’évacuation, etc.
« Nous visons à ce que tout le monde soit capable de porter secours en cas d’arrêt cardiaque car les premières minutes sont les plus importantes »
« Le secours à la portée de tous », qu’est-ce que cela représente pour vous ?
OB: « Le secours à la portée de tous » englobe la vision globale de l’entreprise avec ses différentes branches. De par cette devise, nous visons à ce que tout le monde soit capable de porter secours en cas d’arrêt cardiaque car les premières minutes sont les plus importantes et chacun de nous peut porter secours à son prochain peu importe son degré de formation, son métier et son expérience.
Et cette formation BLS-AED ?
DCK: La formation Basic Life Support-Automated External Defibrillator (BLS-AED) consiste à avoir les réflexes appropriés face à une victime d’urgence vitale tout en assurant sa propre sécurité avec des actions simples mais efficaces et l’utilisation d’un défibrillateur. Le but est de démocratiser l’utilisation des défibrillateurs pour toute la population, ce qui reste encore trop rare sur le territoire. La formation est destinée à toute personne entre 9 et 99 ans motivé à apprendre et secourir son prochain.
En quoi est-elle importante ?
DCK: Cette formation est importante puisque, le jour où l’un de vos amis ou parents ou collègues, fait un malaise cardiaque et s’écroule devant vous, vous saurez comment réagir pour lui donner le maximum de chances de survie. Être mieux armé permet de mieux réagir en situation d’urgence !
De futurs projets ?
OB: Notre futur projet est de créer un service sanitaire avec des professionnels du secours préhospitaliers.
The Budget Speech 2020-2021 was delivered yesterday by the Minister of Finance, Economic Planning and Development, Dr the Hon Renganaden Padayachy. With this budget, titled “Our New Normal The Economy of Life,” the Government aims to:
Preserve jobs and livelihoods for the most vulnerable of our society
Rebuild our Economy
Ensure an inclusive, robust and sustainable economic development together.
We’ve read it all and summed up the highlights for entrepreneurs and SMEs! It’s all there👇
💡 Setting up the right ecosystem for entrepreneurs
“Our recovery and the future growth will be built on a strong commitment towards an inclusive economy,” said the Minister. One that supports entrepreneurship, creativity and ideas and sets up “the right ecosystem to allow entrepreneurs from here and elsewhere to turn their ideas into creation.”
But how so, you ask? Here goes!
The Development Bank of Mauritius (DBM) has earmarked Rs 10 billion to support the “distressed” SME sector
The DBM will also provide loans of up to Rs 10 million per enterprise at a concessional rate of 0.5% p.a.
For women entrepreneurs, the DBM will provide Rs 200 million for loans at a concessional rate of 0.5% p.a.
To ease cash flow, the Government will encourage the broadening of access to factoring facilities through Maubank
The ISP Ltd will subsidise 50% of the factoring fee per invoice for SMEs.
The Procurement Policy Office will require Public Bodies to procure specific goods and services from SMEs only
Public Bodies will pay SMEs within 14 days from the date of invoices in respect of supply of goods and services
SMEs and cooperative societies will benefit from a grant of 15% on cost of assets of up to a maximum of Rs 150,000 under the DBM Enterprise Modernisation Scheme
🇲🇺 Supporting the Made in Mauritius
Fostering a Buy Mauritian program favouring local entrepreneurship and industrial development
The Budget will provide for a Margin of Preference of 20% on public purchases to all local manufacturing companies and of 30% on public purchases for manufacturing SMEs
To encourage local production, the Ministry will be increasing the one-off grant towards certification under ‘Made in Moris’ label from Rs 5,000 to a maximum of Rs 50,000
SMEs holding the ‘Made in Moris’ label will benefit from a Margin of Preference of 40% instead of 30% under Public Procurement
A dedicated Venture Capital Market will be set up at the Stock Exchange of Mauritius for start-ups and SMEs
💰 A new pension system?
There will be no more contributions to the National Pension Fund, as the Government favours a new pension system “which is fair, equitable and sustainable for our economy.”
Introducing the Contribution Sociale Géneralisée (CSG)
The CSG, a “contributory, participative and collective system,” will be effective as from September 2020.
The new system in three main points:
Employees earning up to Rs 50,000 will contribute 1.5%, while their employers will have to contribute 3%
Employees earning more than Rs 50,000 will contribute 3%, while their employers will have to contribute 6%
The self-employed will also be included in the new system
🧾 Introducing a levy on companies
At the beginning of this budget speech on Corporate Tax , The Minister called upon the “solidarity of our most successful economic operators to contribute towards building resilience.”
This section of the budget includes the introduction of a levy on companies:
It will concern companies having gross income exceeding Rs 500 million in an accounting year; or those part of a group of companies where the gross income of the group exceeds Rs 500 million
A rate of 0.3% will be applied for insurance companies, financial institutions, service providers and property holding companies
A rate of 0.1% will be applied for other companies
It will not apply to companies in the tourism sector, nor to companies with a Global Business License
So there you go!
If you want to read the full Budget Speech, head over here 👈
In the time of COVID-19, the way we work has had to change for many of us and businesses had no choice but to adapt. After months of working from home, it is not surprising that how we think about work also has changed. Better yet, it’s confirmed that businesses can adapt and provide what many employees have been asking for: more flexibility!
Why do employees want flexibility?
Flexibility plays an important role in work-life balance, and employees want it so much that they value it above salary and health insurance in a potential job. Work-life balance makes for a happier and healthier life, providing employees with the ability to work when they’re at their peak, allowing employees to work when they are most productive, while giving them flexibility of making time for themselves and their family.
Research has shown that the workforce of today wants the opportunity to work from anywhere and, in most cases, this involves working closer to home. The need for less commute is clear and the case for it? Well, it saves time and reduces stress. Workplace flexibility might just be what business leaders need to provide to an increasing workforce in search of jobs that adapt to their lifestyle.
Flexibility is the way to go for businesses too
Yes, employees want more flexibility and yes, the lockdown has shown that businesses can indeed be more flexible. But now that most of us are back at the office, why should businesses continue to be more flexible? Well, it’s a win-win and here’s why:
Efficiency and productivity
A 2019 survey by Airtasker which found that less time is being wasted on distractions; and remote workers are more efficient. While, research by Flex+Strategy Group shows that with flexibility comes more innovation, productivity and engagement. Simply put, businesses have a lot to gain in implementing flexible solutions.
Flexibility just makes employees happier and many are going on the search for it! They are feeling empowered to seek jobs that provide them with flexible initiatives and opportunities. But to what extent? Well, many would choose flexibility over a pay raise, for example. Some would change employers if offered flexible work elsewhere. The reality of it is: to retain top talent, businesses will have to adapt.
Not only have businesses seen increased productivity as a result of workplace flexibility, in many cases, this increased productivity has had a positive impact on revenue generation, cycle time and client satisfaction. It goes without saying, but we’ll say it anyway: allowing employees to work from home or at a coworking space not far from home can save businesses a significant % on operational expenses.
So the question remains, will your business adapt?
The Hive offers private office, coworking and meeting spaces to freelancers, entrepreneurs and SMEs, allowing them to grow their business within a sustainable workplace community. To learn more about our offers, head over here 🙂
As we prepare our soft reopening this Friday, we highly recommend that members bear their share of responsibility and highly encourage all of you to respect social distancing and health precaution measures.
We’ve put together some Back To Work Guidelines for you. Here they are 👇
All members must:
Wear masks at all times
Ensure their employees and visitors are wearing masks
Use the hand sanitizer provided at all our centres upon entering
Monitor and record their employees’ temperature
2. Social distancing
Members should ensure social distancing of 1.5m as far as possible
Access to the coffee machine and kitchen appliances is limited to one person at a time
3. Meeting rooms
The meeting room will remain closed for now
Special requests will be assessed on a case-by-case basis
Cleaning procedures after use will be operated by our cleaning staff
Each member will have to wash their own dishes
Members must keep mugs/cups at their desks and not on common shelves
Access to the kitchen sink will be limited to 1 person at the time
Food stored in the fridge must be in a container. Foods in their original packaging will not be accepted.
Food must be taken out from the fridge upon leaving to ensure daily fridge cleaning
5. Lunch and common areas
We highly recommend that members lunch at their own desks
In any case, we encourage staggered lunch times to avoid grouping during lunchtime
We encourage anyone to leave as soon as lunch is finished
6. Visitors and customers
Visitors and customers will be allowed to enter our premises only if equipped with masks and gloves for safety and prevention measures
Members must monitor and record their visitors’ temperature
We recommend that customer visits be limited
7. The Hive cleaning procedures
Offices and desks will be cleaned on a daily basis (before working hours). We recommend you clear your desk out every evening so that we can clean it properly!
Cups, mugs and other personal belongings will not be cleaned by our staff
Common space areas will be cleaned on a daily basis (after working hours)
Fridges will be cleaned on a daily basis
Restrooms will be cleaned twice a day
Door handles will be cleaned with hydroalcoholic gel every two hours
Do you have questions or suggestions for us? Drop us an email here 👉 email@example.com
Soutenir les petites et moyennes entreprises pendant et après la période de confinement. Telle est l’initiative que nous lançons à The Hive, à travers l’allocation d’un fonds de soutien à hauteur de Rs 800,000. Un fonds dont bénéficiera notre communauté d’entrepreneurs à compter du mois de mai et qui, une fois le confinement levé, permettra également à plusieurs PMEs locales de s’installer à The Hive afin de poursuivre et renforcer leurs opérations.
Cyril Quintyn, directeur de The Hive
Soutenir nos membres 💪
Nous traversons une période difficile. Mais l’économie mauricienne résistera parce que nous continuerons de la faire fonctionner, et si nous voulons sortir la tête de l’eau, il faudra le faire ensemble.
Ainsi la moitié du fonds de soutien sera dédiée à nos membres actuels. Cette part du fonds leur permettra de bénéficier d’une diminution des frais de loyer dès le mois de mai et ce durant trois mois.
Un Support Scheme Initiative pour soutenir le « lokal » 🇲🇺
Plus que jamais le « lokal » sera au cœur de notre économie de demain et plus que jamais les PMEs et les start-ups deviendront le moteur de ce pays. La raison pour laquelle nous consacrerons l’autre moitié de cette enveloppe budgétaire au bénéfice des PMEs et des travailleurs indépendants de l’île.
À travers un Support Scheme Initiative, nous offrirons 100 Coworking Memberships. Une initiative qui permettra à ces entreprises de diminuer leurs coûts opérationnels et d’accélérer la reprise de leurs activités.
Nous sommes convaincus que nous avons un rôle à jouer en tant que premier coworking de Maurice et cette contribution, certes très modeste à l’échelle du pays, vise à faire savoir à la communauté d’entrepreneurs qu’elle n’est pas seule.
Comment s’enregistrer ? 📝
Toute PME ou travailleur indépendant ayant besoin de soutien pourra ainsi nous soumettre une demande officielle et peut-être bénéficier jusqu’à 3 mois de membership à The Hive. Les demandes d’adhésion débuteront à partir de la semaine prochaine et se feront en ligne via notre site web: http://www.thehive.mu/support-scheme-initiative👈
Local businesses are currently facing unprecedented challenges that will (if not already for some) impact on the way they operate now and in the future. Kantar Indian Oceancarried out a Business Resilience survey with over 100 CEOs, general managers and entrepreneurs, to analyse how this crisis is impacting on their businesses. The report was released this week — here are the major takeaways.
“The top priority for 59% of the businesses surveyed is to maintain their cashflow”
Work from home status 🏡
46% of the businesses surveyed have a part of their team not currently working. Of those, 40% are small companies with less than 10 employees.
Where the priorities lie ✔️
The top priorities for the businesses surveyed are: maintaining cashflow (59%), enabling remote working (30%), and developing or maintaining delivery logistics (20%).
“Nearly 40% think they will downsize their workforce in the short term”
The business impact 📉
The future looks somber for many of the businesses surveyed, with the majority projecting negative turnover, investment and recruitment in the next 12 months.
Workforce will take a hit 🧑💼
In the next six months, 40% of the companies surveyed think they will downsize their workforce.
What businesses need right now is support 🤝
Amidst worries about economic slowdown and decreased revenues, smaller businesses are the ones that are less satisfied with the measures taken by the government and most in need of support.
Kantar Indian Ocean, previously known as Kantar TNS, forms part of a global organisation, which is the world’s leading data, insights and consulting company.
We are going through some tough times and while it isn’t “business as usual” for any of us, we still have a business to run, however unusual it may be right now. To make things simple for you, during these past few weeks, we went through all the resources available to small and medium businesses and picked the ones mostly likely to suit your business! (For our very own Support Scheme Initiative, head over here 👈)
N.B. The article was updated to add additional resources following the extension of the lockdown.
1. Getting support from SME Mauritius 🗂
SME Mauritius’s COVID-19 “Finance et plans de soutien” includes five measures for a support of up to Rs 150,000 per SME:
Here’s what’s available to you if your business has a turnover of:
Up to Rs 50 million (for micro, small and medium enterprises)
A six-month moratorium on:
Capital repayments and interest payments for existing loans with commercial banks
Both capital and interest payments for new loans with commercial banks
…and up to Rs 10 million (for micro and small enterprises)
Loan facilities are available through the Development Bank of Mauritius (DBM)
The DBM will disburse up to Rs 1 Million to eligible applicants
How to cover your rent? Here’s how the government can help!
If you need help covering your rental costs, loan facilities are available for those renting private-owned building. You can do this through either two of these institutions depending on the size of your business:
The DBM – with no interest payable if the loan is repaid within 9 months (i.e. until December 2020!) for micro and small enterprises
Commercial Banks – under the BOM’s Special Relief Fund for other enterprises
4. And if you’re self-employed, there’s a scheme for you too! 🧑💻
Recently announced by the Government, here’s more on what the Self Employed Assistance Scheme is all about:
A financial support of Rs 5,100 (between March 16th and April 15th). This concerns self-employed individuals in businesses and casual workers. Your total monthly household income must not exceed Rs 50,000.
An additional amount of Rs 2,550 per self-employed individual was added as part of the scheme to cover the period of April 16 to April 30.
In times like these, we cannot help but feel the importance of supporting each other. We see how, as the community that you grew to be, you interact with each other, help each other and keep in touch with each other. This is what matters and we love seeing it! That’s how we’ll get through this together and that’s how we know we will be coming back a stronger community.