Q4 Business Confidence Nose-Dives, SME Confidence Index Reveals 1 month ago 3 min read
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While confidence levels of small-and-medium sized enterprises (SMEs) seemed to rebound during the second half of 2020 as some semblance of normality returned after lockdown restrictions were eased, the economic aftershocks of COVID-19 were felt across the board. With increased job losses and restrictions on international travel, local consumer spending and foreign visitor numbers declined during the fourth quarter of 2020, resulting in dwindling SME business confidence.
This is according to the 2020 quarter four results of the Business Partners Limited (BUSINESS/PARTNERS) SME Index, which revealed that 75 percent of respondents found the festive season significantly quieter than usual. The survey results also bring into focus the crippling effects of COVID-19, with 7
iAfrica 4 months ago 3 min read
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AsSouth Africa begins the long journey towards recovery following the economic toll taken by COVID-19 and the associated lockdown, tourism remains a critical piece of the puzzle in helping stabilise and rebuild the economy. With foreign travelers now permitted entry into the country (upon submission of a negative COVID-19 test within 72 hours of departure), businesses in the tourism sector now need to focus on updating their operations to make the most of the current opportunities presented.
Anton Roelofse – Regional General Manager of Business Partners Limited (BUSINESS
/PARTNERS) – explains, “Not only is tourism critical because of its contribution to the country’s GDP, but also because of the significant number of job opportunities that this sector creates both; directly and indirectly. The opening of South A
Study shows lockdown closed down almost half of small businesses
By Nathan Craig
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A recent study by financial services company Finfind Small, Medium and Micro Enterprises (SMMEs), small businesses were the hardest hit by the country’s lockdown.
The report, which was in collaboration with the Department of Small Business Development, was based on a survey of 1 489 businesses that represented a cross section of all of the industry sectors in the country.
Other collaborators included the Banking Association of South Africa, the Johannesburg Stock Exchange, and the Institute of Business Advisors Southern Africa among others.
Existing debt, lacking cash reserves, financials which were outdated, no access to relief funding, and operational paralysis during the lockdown, forced the closure of 42.7% of small businesses, according to the study.