Business liquidations dropped by more than 6% in first quarter - Stats SA

JOHANNESBURG - Statistics SA says business liquidations dropped by more than 6% in the first quarter of the year.

Although lower, this still means a staggering 385 businesses closed their doors in the first three months of the year.

The latest data was released by Stats SA on Wednesday.

It comes amid concerns that the business environment in the country continues to be challenging, as elevated interest rates, high inflation and low growth persist.

Survey statistician at Stats SA, Onica Mushwana, said the number of liquidations in March also came down by close to 20% compared to the same time last year.

"This represents a decline of 30 liquidations from a total of 168 in March 2023 to 138 in March 2024. The 138 liquidations recorded in March include 13 compulsory liquidations and 125 voluntary liquidations."