Five ways a business rescue practitioner can help your business

Bruce Berry, CEO at TMA-SA

After being in lockdown for several months, and possibly caving into some measure of public pressure, President Cyril Ramaphosa has continued his journey of slowly reopening the economy and announcing the most of the country will be moving to COVID-19 Risk Level 3 on 1 June.

However, this was done with a stern warning that the responsibility remains in the hands of the South African public to continue to practice social distancing measures in order to try and contain the spread of COVID-19.

Massive social experiment
It must be pointed out that the reopening of any economy, even in developed markets, is a huge social experiment as a largescale shutdown of the global economy has never been experienced in modern times.

A report by McKinsey points out that even places with strong initial responses like Hong Kong and Singapore have faced challenges as they reopened. China has also seen an increase in cases since it reopened its economy.

The report adds that, in the United States, there is only a loose correlation between disease prevalence and plans for reopening. States with more cases generally plan to reopen later, but there are exceptions.

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