Jeremy Stewart, owner of Seamless Flooring Systems SA, discusses how the Coronavirus will affect the flooring industry and what we can do about it.
The best way we as South African business owners can survive the effects of the coronavirus and the devastating effect on our economy is to – as far as possible – support local South African companies and to buy local flooring products and raw materials. By supporting local businesses, companies and consumers contribute to the resilient supply chain of South Africa, creating more employment opportunities and in turn, naturally stimulating the economy.
Supporting South African manufacturers inspires confidence in the entrepreneurial companies who are wanting to start new ranges of their own. Taking pride in our own companies and not solely relying on importing products puts more confidence in local products. This approach will also allow South African flooring companies to identify gaps and opportunities in the flooring market.
At the most basic level, when you buy South African made flooring materials, more money stays in the local economy. Research has shown that double the money stays within our borders when we buy locally. That means that those purchases are twice as efficient in terms of keeping the local economy alive.
Buying local also enhances the “velocity” of money, or circulation speed, in our country. The crux of this concept is that if currency circulates more quickly, the money passes through more hands and more people benefit from it.
As our country limps through this recession, many local flooring manufacturers and installation companies are hurting. By buying local, we can assist our South African economy to withstand the downturn. The flooring sector, the wider built environment and citizens need to remember that it’s not about how much money we have, but rather how long we can keep circulating without it leaking out our borders.
For more information, contact Quartz Carpet
Tel: 086 178 2789
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