Three facts about small business turnover in South Africa
As government introduces new legislation to further support small, medium and micro-sized enterprises (SMMEs), recently released data from the 2019 Annual Financial Statistics (AFS) survey shows the growing role that small businesses play in the formal business sector. The National Small Enterprise Amendment Bill 2020, gazetted recently, outlines the establishment of an ombud service that read more »
How large is the small business footprint?
In 2015, Stats SA published an article highlighting the contribution that small businesses make to industry turnover in South Africa.1 The March 2019 Quarterly financial statistics (QFS) report provides an update. The entire formal business sector2 generated R2,39 trillion in turnover in Q1: 2019. Out of this amount, large businesses contributed 62%, followed by small (29%) and read more »
New samples for monthly business cycle indicators
In September 2023, Statistics South Africa (Stats SA) published the results of a number of monthly surveys, which are based on new samples. These are: P3041.2 – Manufacturing: Production and sales; P6141.2 – Wholesale trade sales; P6242.1 – Retail trade sales; P6343.2 – Motor trade sales; P6410 – Tourist accommodation; P6420 – Food and beverages; read more »
New samples for monthly business cycle indicators
In September 2022, Statistics South Africa (Stats SA) implemented new samples for the following monthly surveys: P3041.2 – Manufacturing: Production and sales; P6141.2 – Wholesale trade sales; P6242.1 – Retail trade sales; P6343.2 – Motor trade sales; P6410 – Tourist accommodation; P6420 – Food and beverages; and P7162 – Land transport. New samples for read more »
New samples for monthly business cycle indicators
Introduction In September 2021, Statistics South Africa (Stats SA) implemented new samples for the following monthly surveys: P3041.2 – Manufacturing: Production and sales; P6141.2 – Wholesale trade sales; P6242.1 – Retail trade sales; P6343.2 – Motor trade sales; P6410 – Tourist accommodation; P6420 – Food and beverages; and P7162 – Land transport. New samples for read more »
8,1% of respondents lost jobs or had to close businesses
Media Release                                                                                                                            20 May 2020                                             8,1% of respondents lost jobs or had to close businesses 8,1% of respondents reported that they lost their jobs or had to close their businesses read more »
Electricity: big business for municipalities
The recent power blackout in Msunduzi municipality again highlights the importance of electricity supply. Large parts of Pietermaritzburg were plunged into darkness for about a week when saboteurs, suspected to be striking workers, disrupted the city’s power grid2. It might be common knowledge that municipalities are involved in power distribution in South Africa, but many read more »
Non-agricultural formal employment decreases by a small margin in the second quarter
The number of employees in the formal non-agricultural sector of the South African economy decreased from an estimated 8 945 000 in March 2015 to an estimated 8Â 944 000 in June 2015.This reflected a quarterly decrease of 1 000 employees. The quarterly decrease was mainly due to decreases in employment reported by manufacturing industry which read more »
Informal business a means of survival
Almost 70% of people who start an informal business do so because they are unemployed and have no alternative source of income. This was just one of the findings of the Survey of Employers and Self-Employed (SESE) released by Statistics South Africa (Stats SA) on Thursday. The SESE, which is conducted every 4 years, collects read more »
Unemployment in South Africa: A Youth Perspective
South Africa, like many countries globally, grapples with the challenge of youth unemployment. This is supported by statistics indicating a 45,5% unemployment rate among young individuals (aged 15-34 years), in contrast to the national average of 32,9% in the first quarter of 2024. However, when looking at the Labour Market Dynamics in South Africa report read more »