Small businesses in South Africa are buckling under load shedding - as liquidations climb
Stats SA has published the latest liquidation statistics for businesses in South Africa, showing that 523 companies have shut their doors in the country to date.
The electricity, gas and water industry, the agriculture, hunting and forestry industries, and the Mining and quarrying industry were the only listed industries with no liquidations. Minister Stella Ndabeni-Abrahams responded by citing a research study conducted by the Small Enterprise Finance Agency in August 2022, which found that SMEs suffer significantly due to load shedding.Most respondents operated in manufacturing, retail trade, hotels and restaurants, construction, transport, community services, financial services, agriculture, mining and quarrying.
The majority indicated that they require assistance with funding to acquire alternative energy sources and help with restructuring their loans in respect of their loan repayment obligation with the agency; andAdditionally, several business stakeholders have noted that rampant and escalated load shedding resulted in irregular wage expenses, as many businesses have had to rely on casual workers to coincide with the inconsistent load shedding schedules.
Small to Medium enterprises to be supported through Sefa’s Township and Rural Entrepreneurship Programme .
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SolarWorld Africa brings Risen’s solar panels to SASolarWorld and risenenergy ink a deal to distribute solar panels in South Africa. renewables SolarPower SolarWorldAfrica PowerCrisis
Read more »
Great news for South African businessesGrowth opportunities are available for South African companies which target the right markets and promote themselves on a consistent basis.
Read more »
Focus on Africa - Morgan Heritage: 'Eternally we all come from Africa' - BBC SoundsAward-winning Jamaican reggae group, morganheritage spoke to MarkDeforce about how their latest album, 'Homeland' was inspired by their African heritage.
Read more »
Nadia Nakai to host Love and Hip Hop South Africa reunion episodes | LifeThe first season of South Africa's version of Love and Hip Hop has wrapped filming, and now it is time for that part in every reality show where the cast meets and films a reunion episode to discuss the season that was. | News24Arts
Read more »
The best wildlife estates in South AfricaNew World Wealth names the best wildlife estates in South Africa
Read more »