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Latest Old Mutual Insure initiative to help SMEs protect and progress themselves

22 February 2021 Old Mutual Insure
Soul Abraham, Chief Executive for Retail at Old Mutual Insure

Soul Abraham, Chief Executive for Retail at Old Mutual Insure

Following the massive economic disruption caused by the COVID-19 lockdown in 2020, it is important for the South African private sector to drive the important process of economic revival.

It is well documented globally that small and medium enterprises (SMEs) are the engine of economic growth and job creation. Therefore, SA’s oldest insurer is doing its bit to support the growth aspirations of SA’s hard-hit SMEs.

At the height of the lockdown in 2020, the insurer set aside R40 million to assist its qualifying SME customers with interest-free loans, to help them remain solvent during those difficult times. In 2021 the insurer is going further with its SME campaign which will support all SMEs with an innovative, easily accessible, free online business marketing toolkit designed to effortlessly guide and empower small businesses to operate effectively and prosper in a digital age. These digital tools are contained in the Old Mutual Insure Business Growth Box.

The Business Growth Box aims to tackle the twin challenges of risk and growth faced by small businesses in the 21st century and represents the collective wisdom of the insurer has gained over 175 years of being in business.

So, what’s in the box?
• Valuable on the street marketing ideas.
• Google your business – a step-by-step tool to a better online presence to attract new customers
• The secrets to a great Instagram account to reach new customers
• An overview of out-of-the-box, tailored insurance products and thinking.
• A chance to win a Yoco device to enable POS payments
• A chance to win a Webstore for their business.

According to Old Mutual Insure’s Chief Executive for Retail, Soul Abraham; “Some of the biggest challenges that SMEs face currently relate to protecting their businesses, access to funding, growing their presence and market and going digital, just to name a few. That is why we stuffed our Business Growth Box with useful tools to help SMEs thrive and survive during this economic downturn and digital age.”

Protecting and progressing SMEs in the digital era

“SMEs are the bedrock of the South African economy and currently provide the most jobs in the economy. Most significantly, SMEs hold the potential to not only re-ignite growth but also to employ millions more. No other segment is more important to the recovery of the South African economy post COVID-19 than small business,” explained Abraham.

SMEs can access the Business Growth Box by visiting https://businessgrowthbox.co.za to receive a host of valuable on-the-street marketing ideas, including how to leverage collaboration for growth.

“Digital is the lifeline that small businesses need right now, as well a potential game-changer in re-igniting growth in the South African economy,” Abraham said.

R1 million up for grabs to support SME clients

The insurer has also offered all SMEs including its intermediaries the chance to win a share of R1 million to progress their business during these uncertain times. All they need to do is get a valid business quote from the insurer between 22 February-31 May 2021 to stand a chance to win*.

“Having partnered with businesses for nearly two centuries, Old Mutual Insure understands that no business is without risk. The Business Growth Box provides small businesses easily- accessible and practical tools – supported by our active guidance - to successfully and independently rise to the challenges of risk and growth in a digital age,” concludes Abraham.

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