In our post-covid environment, supporting our local businesses has grown in importance as retailers struggle to find momentum after the Lockdowns. Now Mastercard has gone a step further and has used its expertise to create a new support package directly targeted to reignite small Kiwi businesses.
Small to medium enterprises (SME’s) make up 97 percent of our retail economy, and with reports 85 percent of them suffered a decline in revenue as a direct result of the global pandemic, there is a small window of opportunity for these business to turn their luck around as the economy begins to restart.
Helping to drive that growth is Mastercard’s Getting back to Small Business support package, which provides expert based resources, tools and services to help SME’s navigate the waters of our new normal.
As retailers have had to pivot directly to digital in some cases, Mastercard has also adapted this support package to provide education on how retailers can best utilise the ecommerce space, no matter their offers or level or trading.
Ruth Rivere, Country Manager for Mastercard New Zealand says this support package will be crucial for some businesses when it comes to kick starting their businesses.
“Small businesses are a driving force in New Zealand’s economic recovery and play a crucial role in rebuilding local communities.”
“Currently, many lack the technical support and know-how to take their business online and often don’t have access to the same networks and resources as their larger counterparts. By removing some of these barriers, Mastercard can help them build new and sustainable revenue streams, setting local small businesses up for success and enabling them to emerge stronger on the other side of crisis.”
The programme aims to support businesses across of multitude of ways, from digital adaption all the way to connecting personally with your customers. Some of the finer details of the programme include;
- Arming small businesses with the knowledge to operate in a new, more digitally orientated world.
- From creating a website and choosing the right domain name to building a brand on social media, the programme connects small businesses with useful tools and services, alongside educational material from Mastercard’s Digital Door Curriculum in partnership with Hello Alice and Squarespace.
2. Enabling small businesses to stay secure online.
- The programme will connect small businesses to tools available through banks and payment service providers such as Mastercard Digital Enablement Service (MDES) for Merchants and Mastercard Identity Check providing a more secure way to store and process payment data, and helping to create a seamless experience for consumers while protecting businesses against fraud and false declines.
3. Empowering small businesses to take control of their cyber health.
- This allows businesses to better allocate their valuable cybersecurity spending in the proper areas so they can see, over time, a demonstrable reduction in their financial exposure from cyber risks.
4. Connecting small businesses with their customers during uncertain times.
As our SME’s exit this global pandemic and begin refining their feet in a new digitally lead world, programmes like Mastercard’s Getting Back to Small Business programme will be key in supporting businesses adapt to this new normal.
For more information visit the Mastercard Newsroom. For more information on Getting Back to Small Business, visit mastercard.co.nz/backtobiz.