https://newsletter.en.creamermedia.com
Africa|Business|Financial
Africa|Business|Financial
africa|business|financial

SA small business turnover up 9 pct after govt eases Covid-19 restrictions

 SA small business turnover up 9 pct after govt eases Covid-19 restrictions

Photo by Creamer Media

28th August 2020

By: African News Agency

  

Font size: - +

The further relaxation of Covid-19 restrictions by South Africa's government to allow more economic activity to resume after a nationwide lockdown has led to a nine percent improvement in turnover among small and medium enterprises, a survey released on Friday showed.

small business financial platform Yoco's Small Business Recovery Monitor showed that as of August 27, turnover was at 80 percent versus levels before the outbreak of the coronavirus in South Africa, which saw the government impose a 'level 5' down lockdown, shutting down all but essential social and economic activity from March 27 to try and curb transmissions.

The government has since gradually eased lockdown regulations, moving down to 'level 2' earlier this month.

On Friday Yoco, the payments provider of over 80,000 small businesses, said the current turnover among these enterprises was up from 71 percent in the comparative period prior to level 2.

"As expected, the biggest impact has been in the hospitality industry, with turnover up 18 percent since level 2, and back at 76 percent versus pre-Covid," the platform said.

The turnover index is calculated using revenue from the first two weeks of March as a reference. This was before lockdown measures were put in place and small businesses were trading as normal.

A turnover index of 50 percent, for example, means that current revenue only represents 50 percent of the baseline, pre-lockdown level.

Yoco said the boost from looser Covid-19 regulations had been offset by the negative impact of load-shedding -- rolling blackouts implemented by South Africa's state owned electricity Eskom to avoid tripping the national grid after several of its generation units failed.

Edited by African News Agency

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024
Value-adding titanium dioxide pigment under development
Value-adding titanium dioxide pigment under development
6th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.136 0.234s - 212pq - 2rq
Subscribe Now