How to Build a Financially Sound Business in Uncertain Times

By Jabu Maseko

 

If there’s one thing business has taught us over the past few years, it’s this: certainty is a luxury. Whether it’s economic shifts, fuel prices, global pandemics, or local instability, South African business owners know what it means to operate under pressure.

But here’s the good news — tough times don’t just test your business, they refine it. At JMN Consultancy, we’ve helped hundreds of entrepreneurs not just survive but grow in uncertain seasons. And in this guide, I’ll share the principles we use to help businesses build financial stability — no matter what’s happening around them.

 

 

1. Know Your Numbers (Really Know Them)

Financial clarity is your greatest defense against uncertainty. You can’t make smart decisions if you’re guessing where your money’s going. Every business — whether it’s a spaza shop, a consulting firm, or an online boutique — needs a real financial dashboard.

Track the basics monthly:

• Total revenue
• Total expenses (fixed + variable)

 

Tools like Wave or Zoho Books can help — or we can help you set up a spreadsheet tailored to your business.

 

 

2. Build an Emergency Fund for Your Business

Yes, emergency funds aren’t just for personal finance. Your business needs one too — especially in a country where things change fast.

Start by saving at least one month’s worth of core expenses — rent, payroll, inventory, subscriptions. Aim for 3–6 months if possible. This buffer buys you time and peace when clients pay late or things slow down unexpectedly.

 

 

3. Streamline, Don’t Panic-Cut

When money gets tight, don’t go slashing every cost immediately. Instead, evaluate what adds value and what doesn’t.

Good costs: Marketing that brings in sales, tools that automate work, team members who drive profit.

Weak costs: Subscriptions you no longer use, overstocking on inventory, excessive delivery costs.

Make decisions based on data, not fear.

 

 

4. Diversify Your Revenue Streams

If you’ve been relying on one major client, one product, or one channel — you’re vulnerable. Uncertain times reward businesses with multiple income paths.

Examples:

• A fashion brand adds downloadable style guides
• A bakery starts delivery partnerships
• A service provider offers DIY courses or consulting add-ons

 

Think: “How else can I solve problems for the people I serve?”

 

 

5. Stay On Top of Your Tax & Compliance

It’s tempting to delay SARS payments or ignore UIF/PAYE when things are slow. But non-compliance grows into a crisis — with penalties, blocked bank accounts, and legal stress.

Register your business if you haven’t. Stay on top of SARS deadlines. And if you’re behind, get help — sooner is always better than later.

6. Talk to Your Customers Often

Financial health isn’t just about money in the bank — it’s about the health of your relationships. Uncertain times are when your customers want reassurance, trust, and responsiveness.

Use WhatsApp, email, or surveys to ask:

• What’s working for them?
• What’s changed about their needs?
• What else would they pay for?

Sometimes, a small pivot based on customer feedback can keep your revenue flowing — even when your original plan isn’t working.

 

 

7. Keep a Lean Mindset (Even in Growth)

One mistake we see often is over-expansion during brief upturns. Don’t take on unnecessary debt or hire too fast when cash starts flowing. Stay lean. Grow only when your systems — and your cash flow — can handle it.

 

Ask before any big move: “Can I sustain this for 6 months, even if things slow down again?”

 

8. Get Help When You Need It

You’re not supposed to do this alone. Accountants, consultants, financial coaches — they exist for a reason. Getting strategic guidance early can save you thousands in mistakes later.

 

At JMN Consultancy, we specialise in helping South African entrepreneurs get financially organised, find funding, and make smart money decisions — without jargon or judgment.

Uncertain times don’t mean you can’t build a great business — it just means you have to build smarter. With a solid foundation, clear visibility on your numbers, and a willingness to adapt, you can not only survive — you can thrive.

Many of the strongest businesses we’ve seen were born during crisis. Yours could be next.

Need a financial health check-up for your business?

Book a 1:1 strategy session with JMN Consultancy. Let’s make sure your business is built to last — no matter what comes next.