Less red tape, prompt payment by the state and stable electricity supply would make a huge difference
It would be churlish to dismiss as insignificant the government’s latest version of a credit loan guarantee scheme — colloquially known as the Bounce Back initiative — to assist SA’s struggling small and medium-sized enterprises , which were brutally hit by Covid-19, last July’s mayhem in two provinces and, lately, the floods that ravaged KwaZulu-Natal and parts of the Eastern Cape last month.
Last Tuesday the National Treasury announced that it had set aside R15bn to backstop loans for businesses with a maximum turnover of R100m that have been adversely affected by the floods, the earlier riots as well as the coronavirus pandemic. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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