Financial distress caused by the effects of the Covid-19 pandemic has seen the majority of small, medium and micro-sized enterprises (SMMEs) come under severe strain, with their future survival uncertain, new data from TransUnion suggests.
The study shows that nine in 10 (90%) small businesses in South Africa are struggling or temporarily closed as a result of the impact of the Covid-19 pandemic.
Just 9% report that they are operating as normal.
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