Big jump in business closures across South Africa

South Africa reported a sharp rise in liquidations in Q3 2020 as the coronavirus lockdown continues to have an impact on businesses, new StatsSA data shows.

The total number of liquidations increased by 27.4% in the third quarter of 2020 compared with the third quarter of 2019. A year-on-year increase of 54% was recorded in September 2020.

A total of 1,395 liquidations have been recorded from 1 January – September, with the financing, insurance, real estate, business services industry reporting the most cases (428).

It was followed by unclassified businesses (416 cases) and the trade,…

Source link

About Author: ACM
This information is 3rd party content that is added to ACM strictly for non-commercial informational purposes. Information is the Key to Set the Black Mind Free