Johannesburg - A survey conducted by Statistics South Africa has revealed that 42.2% of the country’s businesses have indicated that they have run out of financial resources to continue operating during the Covid-19 outbreak.
It said during its survey it had talked to 707 businesses in the formal sector such as construction, real estate and transport industries, manufacturing, trade and mining, who indicated that they were mostly affected by lower than expected turnover. The survey had excluded micro businesses with an annual turnover of below R2 million.
“When asked how long business can continue without turnover, 54,0% of respondents indicated that they can survive without turnover between 1 to 3 months,” the latest report from the Stats SA said. Stats SA’s Dr Sagaren Pillay said the situation had called for policy makers to focus on the implications of the lockdown.
Source: News Formal (newsformal.com)
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