Prepare for the Best and the Worst

It’s hard to believe, but we are already midway through February with just over 10 months remaining this year, yet it feels like it was only yesterday when we welcomed the new year.

Tomorrow is Valentine’s Day and lovers will again express their affection for each other through heartfelt greetings and gift giving.

Florists, retailers of sparkling wine and chocolates, restaurateurs, and hotels offering overnight packages for lovers and couples wanting to rekindle their relationships, also celebrate Valentine’s Day – a bonus as most of them will have experienced a sales decline during the first few weeks of this year.

Last year was a roller coaster of a year, taking us on another wild journey, like so many of the recent ones.

Although it seems like ages ago, yet it was just a short while ago that we swiftly had to learn to social distance, wear masks in public, and cough or sneeze into our elbows.

I remember those awful lockdowns, night-time curfews, and travel movement restrictions.

It is not difficult to recall when unrealistically empowered security guards at supermarket and shop entrances, with no medical expertise or experience in rendering first aid, measured our body temperature with a digital thermometer.

Although recent years have been challenging and disruptive, in 2024, after having adjusted to living and working under the new normal, we hoped for a recovery.

Sadly, the predicted, remarkable economic recovery remained elusive, and business closure and job losses continued unabated.

In terms of economic recovery, Namibia had a glimmer of optimism with the return of tourists in numbers greater than projected and motor vehicles sales gaining momentum.

What Namibia’s economic growth potential this year is may be the issue you are grappling with as you anticipate and plan what 2025 holds for you and your business.

The imminent political leadership change here, uncertainty following the aftermath of the inauguration of a new president in the United States, conflicts in the Middle East, Eastern Europe and elsewhere, and with resultant global supply chain disruptions, economic prediction scenarios seem rather limited.

However, it is important to remain positive and hopeful that things can only improve.

There is an expectation that the incoming government will consult extensively, particularly with the drivers of an economy, then apply realism when constructing and implementing economic growth strategies for Namibia.

We must all act responsibly and, as smart entrepreneurs, prepare ourselves for the worst possible challenges, such as another year of hardship, uncertainty and disruption.

By wishing for the best and preparing for the worst, whatever comes one’s way will not be a surprise.

Identify potential hazards for your business and for yourself. Establish and implement risk management strategies.

Exercise money discipline, starting with keeping the purse strings tightly closed and purchasing what is necessary and not just wanted.

In previous years, such as in 2024, lessons were taught and hopefully learned, and this year some will be repeated, but we are better prepared, aren’t we?

• Danny Meyer is reachable at danny@smecompete.com