LEA snap survey finds SMMEs crumbling from COVID-19

Friday, May 08, 2020

Helping hand: LEA CEO, Racious Moatshe PIC: PHATSIMO KAPENG

A snap survey by the Local Enterprise Authority (LEA) has found that about 63% of the sampled Small, Medium and Micro Enterprises (SMME) have suspended operations due to the crisis caused by the coronavirus (COVID-19).

The same survey found that of the 382 enterprises in the survey sample, monthly revenues had declined by an average of 47%. The 382 enterprises surveyed collectively employ about 2,669 people and had a total commercial loan balance of P130 million.

LEA Head of Corporate Affairs and Market Access, Boikhutso Kgamanyane told BusinessWeek that the 142 enterprises that remained operational faced challenges of importation of raw materials and inability to pay fixed costs, which include rent, salaries and loans to mention a few.

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LEA snap survey finds SMMEs crumbling from COVID-19

A snap survey by the Local Enterprise Authority (LEA) has found that about 63% of the sampled Small, Medium and Micro Enterprises (SMME) have suspended operations due to the crisis caused by the coronavirus (COVID-19).