Two-Thirds of SA’s SMEs Fail

Almost two-thirds of South African start-up businesses fail within the first two years, according to Peter Schlebusch, chief executive for personal and business banking at Standard Bank.

Schlebusch blames some of the reasons for the failures on the inability to track accurately what is going on in the business, administrative and regulatory burdens and inadequate access to funding.

He states that the bank is aggressively targeting the start-up business market as it sees start-up businesses and providing banking services for these businesses as a profitable business venture.

To read the article titled, “Standard backs SMEs,” click here.