n Professional Accountant - Downgrade and recession would be catastrophic for SMEs : business & economy

Volume 2016, Issue 29
  • ISSN : 1680-7537


The ongoing talk about a possible ratings downgrade and recession by the end of this year is cause for deep concern within the country's small business community. While the recent report from Statistics SA that the economy grew by a relatively healthy 3,3% in the second quarter of this year following a 1,2% contraction in the first quarter, came as a welcome respite to entrepreneurs and small business owners who have had to operate under difficult economic conditions for a very long time, it's not time to celebrate just yet because the economic environment remains quite challenging.

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