In South Africa, small and medium-sized enterprises (SMEs) are the backbone of the economy, accounting for over 90% of businesses and employing around 60% of the workforce.
With nearly 8 million South Africans relying on these enterprises for their livelihoods, the importance of their success cannot be overstated.
Yet, a staggering 70% to 80% of South African SMEs fail within five years, primarily due to cash flow issues, inadequate systems, and a lack of access to sufficient funding.
“Many small business owners are unaware of whether their…
