WATCH LIVE | How to save SA's SMEs during lockdown. Join the Business Day SME Matters discussion live online today at 10am.
As if small businesses and entrepreneurs in SA had not already been sufficiently challenged by the pre-Covid-19 state of the economy, the lockdown has added to their woes.
In SA, about 525,000 formal small and medium-sized enterprises employ nearly 6.6m people — or more than 11% of the population. That is a huge reason for the government and private sector institutions to support SMEs. During the lockdown, small businesses started to feel the pinch early on. Cash flow and investment funding are in short supply. Owners have been unable to pay rent, cover utility bills or support their workers. In March this year, the government announced a R200bn loan scheme with banks and a R2bn support package for SMEs.
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.
WATCH LIVE: Ramaphosa addresses virtual 73rd session of World Health AssemblyThe WHA is the supreme policy decision-making body of the WHO, governed by its 194-member states and consisting of health ministers.
Read more »
WATCH | Dream cars from the Mercedes-Benz Museum on InstagramTake a guided virtual tour of Mercedes 300 SL and other motorised legends.
Read more »
Consumer Watch: FNB throws weight behind its payment holiday solutionconsumerwatch: One bank has come up with a unique solution for its clients, by offering a cost-effective cash flow relief plan, as a separate credit agreement, writes GeorginaCrouth. Day53ofLockdown coronavirus
Read more »
WATCH: Chamisa's plea to South AfricaJoana Mamombe, Cecilia Chimbiri and Netsai Marova were allegedly kidnapped at a roadblock in Harare.
Read more »
WATCH | This is the fastest Ford Focus ST in South AfricaPatrick is a full-blooded Ford fan with a collection of rare RS models but his 520kW Focus ST is the holy grail of performance nirvana.
Read more »
WATCH: The high cost of lockdownBusiness Day TV talks to Allan Gray chief investment officer Andrew Lapping about the effect of lockdown of SA’s economy
Read more »