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Les News d'Afrique de la semaine du 5 Juillet au 11 Juillet 2021

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Failure rate of S.African SMMEs under spotlight

Failure rate of S.African SMMEs under spotlight
Panelists from various public and private sector organisations, such as Aurik Enterprise Development, Tiger Brands and the Small Enterprise Finance Agency (SEFA), engaged on the topic.
FILE: Picture: 123rf.com
Read more small business good news on Vutivi Business News.
South Africa has one of the highest failure rates for SMMEs, with five out of seven of them failing within the first year. According to the consulting firm, Cova Advisory, only six percent of SMMEs in the country said they had received government support.
The firm, which offers advisory services on government programmes such as grants and tax incentives, recently held a webinar on how to grow the SMMEs. Panelists from various public and private sector organisations, such as Aurik Enterprise Development, Tiger Brands and the Small Enterprise Finance Agency (SEFA), ....

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South Africa has one of the highest business failure rates in the world: analysts

South Africa has one of the highest business failure rates in the world: analysts
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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 not doing well,” said Cova Advisory director Tumelo Chipfupa. ....

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