A R15bn credit guarantee scheme to help small and medium businesses recover from the ravages of Covid-19, the July 2021 riots and recent flooding in KwaZulu-Natal has been welcomed, but some say it may be too late for some businesses.

The Bounce Back Support Scheme, which was first signalled by finance minister Enoch Godongwana in February’s budget, came into effect this week to offer funding to qualifying businesses to grow the economy and create jobs, the National Treasury said in a statement...