SA's Small Businesses on the Brink – Over Half May Shut Down Within a Year

South Africa’s small businesses are under serious pressure, and many might not make it. A new survey shows that more than half (55.3%) of small and medium-sized businesses say they can only survive for one more year - or less - under current rising cost conditions, unless they get outside support. The Small Business Growth Index, backed by Absa, SACCI and UNISA, paints a worrying picture, with a third of the 1,600 businesses surveyed already facing "critical risk." Inflation may seem low on paper, but for many business owners, the costs are stacking up fast. Phemelo speaks to Deputy Minister of Small Business Development, Jane Sithole, about what’s being done to help small businesses especially those in the informal sector.