Energy crisis a ‘thorn in the side’ of small business | The Citizen

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The intensified loadshedding during the fourth quarter is expected to put a damper on this optimistic outlook, which would probably get even worse when the results of the first quarter of 2023 are announced later this year energycrisis

Small business displayed surging levels of year-on-year business confidence in the third quarter of 2022 despite the rising interest rates and inflation-driven price increases that hit the pockets of everyone.

According to the index, SME confidence that their businesses will grow in the next 12 months increased drastically from just 33% in the third quarter of 2021 to 77% in the third quarter of 2022, a staggering increase of 44 percentage points. The index also showed a marginal quarter-on-quarter change in business confidence, which showed an increase on a number of fronts, with the biggest quarterly increases observed in the confidence that SME owners have that their business will grow in the next 12 months at a level now 7 percentage points higher than the previous quarter.

She points out that the November 2022 crime statistics released by the ministry of police showed an increase of 19.9 % in commercial crimes.

 

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