Most South African Small Firms at Risk of Collapse, Survey Finds

More than half of South Africa’s small businesses don’t expect to survive for more than a year because of surging cost of doing business, a survey backed by lender Absa Group Ltd. found.

Some 53% of the 1,600 entities canvassed for the inaugural Small Business Growth Index said they were contracting, trading with difficulty or at risk of closure, with costs of some of inputs such as transport and raw materials climbing as much as 61%.