South Africa needs urgent intervention to stem the surge of liquidations of small and medium-sized enterprises (SMEs). With liquidations having increased 49% year-on-year, as announced by Stats SA this week, Covid-19’s effect on SMEs is becoming painfully clear.
The various hard lockdowns hit our economy in the pocket and we now know that most SME’s failed to recover after having been forced to close their doors since the first lockdown in March last year. A total of 56 companies in the trade, catering and accommodation sector alone were liquidated in January and February this year. Sustainable solutions are desperately needed to stimulate the sector to get back on track and people back to work.
We urge government to respond swiftly as SME’s create much needed jobs in South Africa. We also appeal to successful businesses to offer assistance to struggling SMEs and help them restart their businesses if at all possible.
Sustainable businesses that create jobs is the only way the poor masses can be uplifted and given a better future.
For further enquiries or to set up a personal interview,
please contact Abigail Moyo at 065 170 0162.