Small and Medium Enterprises (SMEs) account for the majority of businesses worldwide and contribute immensely to job creation and economic development. SMEs in this country are diverse, heterogeneous and exist in all sectors of the economy. They are defined in terms of the number of people employed or the rand annual turnover. In this regard,
The COVID-19 virus has ruthlessly battered the world’s economy and its citizens’ health. The timing of the virus infection and the subsequent lockdown could not have been worse for South Africa. Our economy, already grappling with low GDP growth and high levels of unemployment, suffered the simultaneous downgrading of credit ratings by Fitch and Moody’s.