Despite challenges like load shedding 🕯️and the ongoing economic crisis 📉 forcing many small businesses to close in SA, some SMEs are optimistic about their survival. Read why⬇️ BusinessNews TheCitizenNews
This trend was especially evident in businesses from Johannesburg and Cape Town, where 81% of SMEs in Johannesburg and 80% in Cape Town reporting a drag on their confidence due to inflation.The report also shows that South African SMEs are more likely than their global peers to add new products and services to overcome barriers and 82% of participants said they are satisfied with current productivity levels.
South African SMEs also want to implement cutting-edge technologies during the next three years, such as 5G , artificial intelligence and robotics . Despite this, South African business leaders expect to increase their technology investment by only 14%, a decrease from 2022 and below the global average. Participants say a lack of budget and difficulty in understanding the best tech options are the top barriers to higher investment in technology.
“However, we should not take them for granted, given their contribution to South Africa’s economy, their central role in communities and their potential to create jobs. With utility costs rising, an uncertain power supply, slow economic growth and global inflation more must be done to help our SMEs to survive and thrive.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Daily Lotto results: Saturday, 13 May 2023 | The CitizenFeeling lucky? You could be the next Dailylotto winner🤑: Here are winning numbers💸
Read more »
SA's own Crocodile Dundee: Gutsy guide recounts underwater fight with croc | The CitizenSouth Africa's very own 🐊Crocodile Dundee recalls harrowing details of run-in with Kruger Park croc that pulled him into the water🌊 😲 Full story here➡️
Read more »
Joburg Mayor Kabelo Gwamanda no-show at press briefing | The CitizenNewly appointed Joburg Mayor Kabelo Gwamanda was supposed to clarify what he called 'a misrepresentation' of his business practices, but he failed to show up. 😲 Full story here:
Read more »
Daily news update: Joburg Mayor's no-show, croc attack & Sisulu on US ambassador | The CitizenGood morning, South Africa! ☕ 🗞 Here’s your news update: From Joburg mayor's security concerns to LindiweSisulu on US ambassador. Read more on TheCitizenNews 👇
Read more »
Two officials suspended over Nzimande's leaked rant | The CitizenThe battle between Higher Education Minister BladeNzimande and his deputy ButiManamela has led to the suspension of two senior officials. Find out what happened below ⬇️
Read more »