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SMME Sector in debt crisis
It was very sad last week Wednesday when Finance Minister Enoch Godongwana decided last minute to postpone his budget speech to the 12th of March. Many industries were looking forward to hearing what he was going to say. One of those is
the SMME sector which is said to be drowning in debt. Luncedo Mtwentwe is the managing director of Vantage Advisory and he says that Over 72% of SMEs are resorting to personal savings just to survive. He goes on to say that Many businesses are unable to pay their employees or suppliers on time, a clear indication of their financial distress.
To have a broader chat on this, he now joins us on the line to also talk solutions...
Guest: Luncedo Mtwentwe - Managing Director of Vantage Advisory (Luncedo is an entrepreneur with passion for building businesses. I lead and serve in number of companies that operate in different spheres of the economy)
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By SAfmIt was very sad last week Wednesday when Finance Minister Enoch Godongwana decided last minute to postpone his budget speech to the 12th of March. Many industries were looking forward to hearing what he was going to say. One of those is
the SMME sector which is said to be drowning in debt. Luncedo Mtwentwe is the managing director of Vantage Advisory and he says that Over 72% of SMEs are resorting to personal savings just to survive. He goes on to say that Many businesses are unable to pay their employees or suppliers on time, a clear indication of their financial distress.
To have a broader chat on this, he now joins us on the line to also talk solutions...
Guest: Luncedo Mtwentwe - Managing Director of Vantage Advisory (Luncedo is an entrepreneur with passion for building businesses. I lead and serve in number of companies that operate in different spheres of the economy)