Slide PAYin30

SA SME Fund, BLSA and B4SA launch #PayIn30 campaign to assist SMEs

 

Access to working capital is key to the sustainability and growth of small and medium businesses (SMEs), especially in the current economic crisis which has been exacerbated by the Covid-19 pandemic.

 

Corporate South Africa recognises this, and we are proud that over 50 CEOs have signed up to #PayIn30, a campaign led by the SA SME Fund, BLSA and B4SA. These large corporates have committed to pay their SME suppliers in 30 days, helping alleviate the cash flow constraints of small businesses.

 

SMEs are an important job creator. However, during the last 6 months, it is estimated that over one million jobs have been lost among formal and informal SMEs. SME bankruptcies increased more than 50% since last year (from 4% to 6.5% in default), a number expected to reach >10% as credit extensions, payment holidays and tax relief comes to an end.

 

Thriving SMEs and innovative entrepreneurs are key to South Africa’s economic recovery strategy: we’re all in this together and need to do our part to help our economy grow. This is the time for ethical leadership. And this is why over 50 CEOs have committed to shorter payment terms for SMEs.

 

#PayIn30 is also supported by many business bodies, including Business Unity South Africa (BUSA), the Small Business Institute (SBI), the Black Business Council (BBC), the Minerals Council, and SACCI.

 

We would like to thank the companies who are already participating, and invite all other companies to sign up at payin30@sasmefund.co.za.

Participating Corporates:

line1_absa
line1_adcockingram
line1_alexanderforbes
line1_allangray
line1_anglogoldashanti
line2_aspen
line2_bidfood
line2_BMW
line2_bp
line2_capitec
line3_clientele
line3_coronation
line3_dimensiondata
line3_discovery
line3_ensAfrica
line4_exxaro
line4_ey
line4_fnb
line4_goldFields
line4_hollard
line4_implats
line5_investec
line5_jse
line5_kpmg
line5_liberty
two degrees
Manufacturing Circle
line5_massmart
line5_mediclinic
line6_mineralsCouncilSouthAfrica
line6_momentum
line6_multichoice
line6_nandos
line6_naspers
line7_Nedbank
line7_Netcare
line7_oldMutual
line7_oldsurance
PSG
line7_rclFoods
line7_reDefine
line8_remgro
line8_rmb
line8_rmi
line8_sab
line8_sacci
line8_sanlam
line9_santam
SASFIN
line9_sasol
line9_sibanyeStillwater
line9_siemens
line9_spier
line10_standardBank
line10_stanlib
line10_telkom
line10_tih
line10_total
line10_vodacom