Small businesses on the road to recovery, says Retail Capital
Food, personal care and clothing sectors are taking longer to recover
Small businesses, many counting among the enterprises hardest hit by the government’s Covid-19 induced lockdown, are on the road to recovery as the economy gradually reopens.
Cape Town-based Retail Capital, a firm that offers funding and asset finance to small businesses in SA, said more than 85% of its clients are trading at an average of 80% of pre-Covid levels. Retail Capital has supported 28,000 small and medium-sized enterprises (SMEs) and provided more than R3bn in financing to date.