Eskom is slaughtering small businesses and the many jobs they support

The 90 000 job scare in the mining industry [due to Eskom] may pale into insignificance…. It will be five or 10 times the number the mining industry is talking about…

Bernard Swanepoel, executive director - Small Business Institute

Load shedding and above-inflation electricity price hikes are crippling small businesses, warned the Small Business Institute (SBI) on Monday.

…If the situation is not resolved urgently, we are headed for a devastating winter. And our economy, which has yet to recover from years of policy instability, will be dealt another blow…

Bernard Swanepoel, executive director - Small Business Institute

The SBI says it expects small businesses to create 90% of all jobs in South Africa by 2030.

On Monday, the Minerals Council South Africa warned that more than 90 000 mining employees would lose their jobs in the next three years due to the tariff hikes given to Eskom.

Eskom has 48 000 employees - 66% more than it needs, according to a World Bank study.

The Money Show’s Bruce Whitfield interviewed Bernard Swanepoel, executive director at the SBI.

Listen to the interview in the audio below (and scroll down for more quotes from it).

If you shut down for four hours a day… it kills your business quickly!

Bernard Swanepoel, executive director - Small Business Institute

We all know what needs to be done! We need to allow people to generate their own power... I have a generator at home because I run my business from there. It’s illegal, but I have to break the law to run my business. Now, how can that be acceptable?

Bernard Swanepoel, executive director - Small Business Institute

A lot of businesses will run out of cash in the next week or so…

Bernard Swanepoel, executive director - Small Business Institute

Every single politician should pay attention!

Bernard Swanepoel, executive director - Small Business Institute

Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:

Subscribe to our Business Wrap Newsletter


Recommended

by NEWSROOM AI
Read More
FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB ("most innovative bank in SA") is unbanking one of the most innovative industries of our time, says Farzam Ehsani (VALR.com).

We paid before the family arrived with the body – Old Mutual

We paid before the family arrived with the body – Old Mutual

Consumer journalist Wendy Knowler investigates after a poor family’s desperation to get a claim paid made headlines.

Kylie Jenner - the 22-year-old billionaire

Kylie Jenner - the 22-year-old billionaire

Using what you have to build a modern billion-dollar business

'Black candidate would’ve been great, but we support De Ruyter’s appointment'

'Black candidate would’ve been great, but we support De Ruyter’s appointment'

“For the good of all of us, we support him,” says Sandile Zungu (Black Business Council).

Investec Asset Management renames to Ninety One ('when Siya Kolisi was born!')

Investec Asset Management renames to Ninety One ('when Siya Kolisi was born!')

"It’s a year when the world changed fundamentally," says founder Hendrik du Toit. "The USSR ended and Siya Kolisi was born!"

Workers abandoning the strike are being intimidated – SAA

Workers abandoning the strike are being intimidated – SAA

The SACAA says SAA is safe, despite union claims to the contrary. SAA is taking legal action, says board member Martin Kingston.

Popular articles
[WATCH] Viral schoolkid who cried at Bok tour attends awards with the Kolisis

[WATCH] Viral schoolkid who cried at Bok tour attends awards with the Kolisis

He was caught on camera earlier this month, bawling his eyes out when he saw the Bok squad at the start of their victory tour.

Demolition of Bank of Lisbon building in Jhb CBD to take place on Sunday

Demolition of Bank of Lisbon building in Jhb CBD to take place on Sunday

EWN reporter Mia Lindeque gives an update on the demolition plans, which include viewing of the implosion.

[VIDEO] Family take dead family member to Old Mutual after no funeral pay-out

[VIDEO] Family take dead family member to Old Mutual after no funeral pay-out

Khabazela shares tweets and Facebook posts that have gone viral.

'Pravin Gordhan is part of SAA mess, he is not a saint'

'Pravin Gordhan is part of SAA mess, he is not a saint'

Wits School of Economics and Business Science senior lecture Lumkile Mondi says the South African Airways crisis is self-created.

3 best JSE shares to buy, right now (by The Robert Group)

3 best JSE shares to buy, right now (by The Robert Group)

Devin Shutte (Head of Investments at The Robert Group) shares his stock picks of the week with Bruce Whitfield on The Money Show.

[WATCH] SABC reporter heading for danger during looting goes viral

[WATCH] SABC reporter heading for danger during looting goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.