As the rainbow emerges it’s time to rebuild

We still have a long way to go in the fight against the dreaded COVID-19 pandemic. As we well know however, economically speaking at least, we can’t simply lie down indefinitely succumbing to its steely grip.

Let’s rather, particularly as we celebrate Nelson Mandela’s birthday this month, remember that our ‘rainbow nation’ is known for its resilience and ability to overcome even the worst that has been thrown at it.

As this storm passes and we gradually begin to normalise, another rainbow will emerge beckoning us all to rebuild – and let’s hope it will ultimately still yield the proverbial ‘pot of gold’ when all is said and done.

So how do we go about rebuilding? Well, it is a complicated process for many, and it will not be the same for everyone, but there are a few basic steps to consider.


After any storm, the first thing to do is damage control. Assess the damage, include everything that may have been lost or compromised – i.e. – loss of staff, reduction of budgets – possibly really important budgets too, like acquiring stock or marketing. Ensure your financial statements and reports are fully updated so you can make an accurate accounting too.
Revisit your original Business plan. If you had astutely enlisted the help of a professional Financial Planner pre-COVID-19, hopefully you will have allowed for such emergencies and built in contingency plans. You should have had sufficient funds to at least see you through the worst of the storm.


Now you need to review your financial status. Will you need financial assistance or loans? We offered some guidance on that in our article on relief and advice for SMMEs weathering the storm. Also decide on where you will go from here from a structural point of view.
Will you be able to save on travel costs and office space of more people work from home from now on? If you lost staff will you replace them or go the route of outsourcing specific skills? You could save on this too, by paying only for what you need when you need it. Your options are numerous, so consider them carefully and let your Financial Planner help.


Now you physically start to rebuild. Knowing exactly where you stand and armed with some cash to go the next round you can set some new goals and create clear timelines for how long you intend to take to get back to where you were pre-pandemic.

Start to work on new budgets and financial plans. You need to ensure new budgets account for the re-training of staff or hiring of new staff, new inventory and marketing etc. Possibly you can cut back on your own salary for a while, just to get things back on track.

This will of course depend on your own liquidity – again a good reason to consult your Financial Advisor – and especially to let him or her assist you to ensure you have good contingency in place for the next time this type of situation arises!

Rebuilding individual wealth planning follows the same principles

Wealth planning and the re-building of a wealth plan, follows pretty much the same three basic principles as the rebuilding of a business. Review the losses incurred to your portfolio within the slump period – reassess your portfolio and see where changes can be made to minimise that damage – and rebuild a solid plan to get you back on track and include contingency for future unexpected events.

This is something that we strongly advise you do with the assistance of a professional experienced Financial Planner. Remember they have dealt with similar situations on a number of occasions and in many different circumstances. Think of it like this. After a storm would you be happy to rebuild yourself – or would you rather be assisted by a rescue crew and construction experts?

You are unique

We at Hereford group have been successful for the last quarter century because we have based our philosophy on the simple principle that every business, organisation and individual is different. The rebuilding process will not be exactly the same for anyone and it is exactly for that reason that one should consult an expert in this field to guide you through the process.

Just as we have done our best to advise you through the storm, as the rainbow finally emerges it’s time to rebuild, so contact us and let us help you through this very important next phase too.

Stay positive and stay safe!


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