Four in 10 businesses ‘lack funds to survive’

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SA’s companies are facing an unprecedented battle for survival during the coronavirus crisis that has prompted the virtual closure of the economy.

About 42% of formal sector businesses surveyed by Stats SA said they feared they did not have the financial resources to stay open through the crisis, while the vast majority, more than 85%, have seen their turnover take a hit during the lockdown, which is in its fourth week...

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