Big business to pay SMEs faster

Some of SA’s largest companies have pledged to pay their small and medium enterprise suppliers on time, highlighting a long standing problem that has bedeviled the country's entrepreneurs who are supposed to be engines for growth and job creation.

Business for SA , a lobby group formed at the advent of the Covid-19 outbreak to support the nation’s crisis response, launched the initiative on Tuesday in which more than 50 large companies across various sectors have formally undertaken to pay SMEs within a month.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

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