First Take SA

SMEs face a bleak future in South Africa


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Small and medium enterprises (SMEs) in South Africa face a bleak future as about 70 percent of them fail to survive beyond the first five years. Those are some of the issues that will be discussed at the Ignite Summit taking place today, aimed at finding lasting solutions to the current challenges faced by SMES. Elvis Presslin spoke to Vannie Pillay, CEO and MD of Oak Tree People Solutions, who says the sector has a potential of creating 90 percent of the needed 11 million jobs

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