South African small and medium enterprises (SMEs) confidence declined according to the SME Confidence Index by Business Partners released on Monday.
South African small and medium enterprises (SMEs) confidence declined according to the SME Confidence Index by Business Partners released on Tuesday
Business Partners have attributed the dip in confidence in the second quarter to the surge in fuel prices due to Middle East tensions.
“This was reflected in declining confidence levels, with SME confidence in the South African economy being conducive to business growth falling by 6 percentage points to 63%, while confidence in their own business growth declined by 4 percentage points to 77%.”
Jeremy Lang, Managing Director at Business Partners Limited, said that these findings suggest a clear shift among SMEs away from growth and expansion towards short-term survival, cost management and operational resilience.
