Challenges worse for small businesses in townships, Nedbank survey finds
Denene Erasmus
“Given that spaza shops contribute about 6% to SA’s GDP, employ 2.6-million people and represent an economy of about R600m, the results are troubling and require a response from both the private and public sectors,” said Dayalan Govender, managing executive for solution innovation at Nedbank, during a webinar on the survey.
While most businesses in SA are hit hard, the outcome is often worse for smaller businesses that cannot afford alternatives. More than a quarter of the businesses surveyed have been operating for three to five years, and about 8% for six to 10 years.
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