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7 hours ago 4 min read Share with your network! Small businesses, already hard hit by the COVID-19 pandemic bear the brunt of the recent civil unrest that affected parts of KwaZulu-Natal and Gauteng, accounting for 89% of the businesses impacted. New research from NPC BeyondCOVID, looking specifically at the impact of the riots on businesses across various sectors reveals that SMMEs, which provide over 70% of the jobs in a country where almost a third of the population is unemployed, stan...

Government infighting and policy paralysis are having a direct impact on South Africa’s economic prospects, which is hitting ordinary people where it hurts – their pockets.

South Africa has one of the highest business failure rates in the world: analysts Subscribe South Africa has one of the highest failure rates for SMMEs, with five out of seven of these businesses failing within the first year, says specialist advisory service Cova Advisory. In a webinar held at the end of April, the group stressed the crucial importance of SMMEs in job creation, due to their higher capacity to absorb labour, with a lower average capital cost per job created. “SMMEs play a big role in addressing the major challenges of unemployment and inequality in our country, but we are n...

Report lays bare the damage Covid-19 caused to businesses By Chulumanco Mahamba Share Johannesburg - The latest data from Statistics SA (Stats SA) has laid bare the trend of liquidations during the Covid-19 pandemic and lockdown after more than 200 companies were liquidated in March. Stats SA released the report Statistics of Liquidations and insolvencies which depicts the total number of liquidations recorded in March this year compared with March last year. The report, released on Monday, revealed that the total number of liquidations recorded increased by 49% in March compared with March 2...

The businesses hardest-hit by liquidations in South Africa Subscribe Statistics South Africa has published its latest report on liquidations and insolvencies, with the data showing a steep annual increase in liquidations across the country. 216 companies were liquidated in March 2021, compared to the 178 the month before – a 21% jump. Voluntary liquidations increased by 61 cases and compulsory liquidations increased by 10 cases. This is 49% higher than the total liquidations registered in March 2020. The report also shows that the total number of liquidations increased by 18.9% in the first...