Small businesses battling to survive pandemic tsunami, Nedbank survey shows
A new survey done on behalf of Nedbank showed more than half of small businesses have temporarily reduced their staff through paid or unpaid leave, and a further 26.8% have cut jobs
Small businesses, often cited as the most important driver of job creation, are fighting to survive as the Covid-19 outbreak and restrictions that have closed the economy since late March.
A survey done on behalf of Nedbank by research company Consulta showed that almost 65% of firms had no turnover during the first five weeks of the lockdown, with more than half forced to temporarily reduce their staff through paid or unpaid leave. A further 26.8% have permanently retrenched workers...