'The SMME sector in South Africa is resilient but more support is needed from banks and government' - John Dludlu

Over half a million new businesses were registered in 2020, an increase of more than 30% from the previous year, according to Companies and Intellectual Property Commission (CIPC) reports. This seems counterintuitive given the economic destruction that has been caused as a result of the Covid-19 pandemic. John Dludlu, chief executive officer of the Small Business Institute talks about the hardships and pain experienced by many in the Small, Medium and Micro Enterprises (SMME) sectors in South Africa following the data released by the CIPC. Dludlu explains that many of these businesses are being opened due to pure desperation as many look to regain their livelihoods. Dludlu unpacks the tough operating environment experienced by SMMEs over the past twelve to eighteen months, with availability of funding and lack of government support a headwind for the sector. Learn more about your ad choices. Visit megaphone.fm/adchoices