Post-Pandemic Opportunities for Accounting Entrepreneurs in Botswana

Authors : Collen Tichaona Mahambo

Volume/Issue : Volume 5 - 2020, Issue 8 - August

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DOI : 10.38124/IJISRT20AUG558

Many businesses have suffered tremendously from the covid-19 pandemic through lost revenues and hence began to downscale. Most changed their business operations from office to remote work by employees. Business performance monitoring activities had not foreseen this global pandemic coming. Therefore, production and deadlines to meet work schedules have been disrupted especially for accounting entrepreneurs whose deadlines are usually imperative day to day discourses. Lockdowns that would come unprepared would drive management and staff in turmoil. These did not only affect internal operations but customers, regulatory bodies and most business stakeholders where in the same boat of reduced functionality. After looking into all these defies, the big question would be whether entrepreneurship would still be able to take advantage of opportunities when the problem is not focused on one country, area, business or sector; but cutting across the globe? Entrepreneurs are seen to be strategic opportunists, especially in times of a crisis like the covid-19 pandemic. In this research, entrepreneurs could be at start-up level, accounting graduates willing to start their own ventures or already functional businesses started by individuals who took the risk to get into their current ventures. Generally, the assumption is that most SMEs (Small-to-medium enterprises) are run by entrepreneurs even though this is not always the case. This research seeks to closely look at the opportunities available to accounting entrepreneurs after going through the challenges of a worldwide pandemic in Botswana. The main aim is to foster entrepreneurship business progressively against the outstanding odds of the covid-19 pandemic. A desktop research was applied to solicit suggestions for not only survival; but a positive forward-looking approach by taking advantage of the current crisis facing all businesses. A qualitative research has been used through journals, publications, discussion and opinion papers in order to explore suggestions for accounting entrepreneurs in the Botswana market. The findings and recommendations showed that accounting entrepreneurial capabilities can be elevated through employment of digital and virtual technologies in their day-to-day businesses and thinking innovatively against current market norms. Businesses therefore are seeking remedies to their financial calamities that have been posed by the covid-19 pandemic. Most “anti-digital” advocates have repented and now appreciate online services even in developing countries like Botswana where many generally shunned or were simply disinterested in digital discourses. The education sector, entertainment, retail and any business that you can think of, have in some way resorted to online alternatives. This combination of impending demand on financial advisory, the rise in appreciation of digital fraternities by all, government support and financing, all pose opportunities post the covid-19 and any other pandemics that may follow. Seetharaman, (2020) articulate how on one hand, the Covid-19 pandemic has imposed huge challenges on business organizations, but on the other hand, it has also compelled for innovations and new opportunities for new business models that will enable them to survive post this current crisis and other future crises

Keywords : Accounting, Botswana, covid-19, digital, entrepreneur, financial, pandemic, technology


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