7 South African businesses closed every day this year

Image: Unsplash / PexelsSouth African businesses face strong headwinds: tariffs, soaring fuel costs, an indebted consumer base, and declining GDP growth. An average of eight companies closed every day in June, above the year’s average of seven a day. South African businesses are closing operationsThe liquidations underline the economic impact of consumers losing spending power. Multiple South African businesses have entered business rescue. However, the number of companies entering business rescue reveals how South African businesses are struggling.