Telkom is targeting small and medium enterprises (SMEs) as part of its revenue diversification strategy.
Small and medium businesses have the biggest impact on a successful gross
domestic product. However, South Africa has one of the highest failure rates for these
businesses compared to other developing countries.
Telkom Small and Medium Business (SMB) aims to be a go-to place for all small
and medium-sized enterprises (SMEs) to connect and to grow.
Telkom SMB’s goal is to shift from pure connectivity products to e-commerce and
expand to adjacent offerings in IT, procurement, financial services and many more
– all delivered through a digital platform powered marketplace.
Helping the growth of small businesses in South Africa who have been severely hit by the COVID-19 pandemic, Telkom Business announces the launch of its latest innovation, Yep! on Google Play and Apple’s app store.
Yep! is a digital marketplace where customers can safely and confidently search and purchase from small, trusted businesses.
The app is geared toward economic sustainability, creating a long-term future for small businesses.
“Think of Yep! as a ‘friend’ to small businesses, as it provides a scalable solution to help grow and enhance their reach,” says Lunga Siyo, CEO of Telkom Business.
“The COVID-19 pandemic has far-reaching effects, none of which paint a bright future for many businesses and even more so in South Africa where small to medium-sized enterprises form the backbone of the economy.”
Users can easily locate businesses or services they require in their area, request quotes, directly book appointments from the app, view the store online, and review its ratings. They can also create their own online store with their own unique branding, upload their list of services to find new customers.
In 2019, small businesses generated more than a quarter of total turnover in business services, trade, community, and both social and personal services, according to Stats SA.
With the current crisis, Treasury projects that more than seven million jobs could be lost as a result.
“Yep! will play a critical role in ensuring the survival of the country’s small businesses that we’ve come so to rely on and help provide and grow the job sector,” Siyo adds.
Yep will also include a bidding section where users can post a service requirement or bid for new business as per customers’ requirements and corporate partners.
It is mutually beneficial as small businesses get exposure, customers get convenience, and large corporations can search for SME suppliers.
“In these tough times, Telkom Business is excited to pivot and create a solution that will help unlock real opportunities for SMEs. Yep! allows us to create value for customers and secure a different revenue stream for the Telkom Group,” ends Siyo.
“At Yep! it is our business to grow small businesses.”
Telkom SMB was created with effect from 1 April 2019.
The SMB division was built ground-up with a lean operating model. Telkom had approximately 250 employees servicing the small and medium business segment