Load shedding driving small businesses to bankruptcy

January 18, 2023 0 By Cypher9ja

Load shedding is driving small businesses to bankruptcy, with statistics already showing an increase in liquidations in the three months ending in November last year with an increase of 2.1% compared to the three months up to November 2021. Statistics from Statistics SA shows a year-on-year increase of 4.4% in November 2022, with 166 filings for company and close corporation liquidations in this month. This included 51 filings in finance, insurance, real estate and business services, 35 in trade, catering and accommodation and 17 in community, social and personal services. However, Saul Levin, executive director of Trade & Industrial Policy…