SMMEs primed for growth as economy slowly takes steps to recover
While South Africa’s economy took a series of blows over the last year, business owners remain confident that things will slowly start to stabilise in 2021. This was reaffirmed with South Africa's SACCI business confidence index rising to 93.4 in November of 2020 from 92 in October, above pre-pandemic levels.
According to Trevor Gosling, Co-founder and CEO of Lulalend, a large part of the country’s growth this year will be dependent on SMMEs.
“Despite the impact of the Covid-19 pandemic, the remarkable ability of these businesses to adapt to change has helped them evolve and ultimately survive. Companies were resilient, optimistic and innovative, trusting that, although the situation will not improve considerably in 2021, it will be able to at least start stabilizing.”
Gosling says that t...