By Pieter Bensch, Executive Vice-President at Sage Africa & Middle East Sage welcomes the news that government has decided to ease lockdown restrictions, allowing small businesses such as restaurants, travel agents and hairdressers to reopen. It comes after the announcement by President Cyril Ramaphosa easing level 3 lockdown restrictions further, allowing over 500,000 more people to…
Even before the current crisis, the failure rate of small businesses in South Africa officially stood at around 60%. Poor contracting and legal documentation is a key factor in failure, as entrepreneurs commit themselves to legally binding agreements that are not in their favour, are unable to recover bad debts or do not maintain compliance…