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Small businesses shutting down in CT
CT Chamber of Commerce is concerned over the closure of several small businesses in the Western Cape.
CAPE TOWN - The Cape Town Chamber of Commerce has expressed concern over the closure of several small businesses in the mother city.
With many businesses either closing, or moving to smaller premises, the chamber has described it as the worst in five years.
Among the latest casualties are Harley Davidson in Greenpoint, Look & Listen in the Canal Walk shopping mall and the iconic Beauwood Furniture in Lansdowne Road.
The chamber's Michael Bagraim said many companies were struggling to cope each month.
“These small businesses have been trading at very marginal profits. It has become a major issue now, with the increase in electricity and transport prices. This has pushed them beyond the tail and they actually cannot survive.”
Bagraim fears more businesses could close their doors.
“We’ve noticed that businesses, especially the smaller ones have been closing over the past three months. If you go to shopping centres, you’ll see many “closed” signs – and it’s reflected all over the country.”
(Edited by Tamsin Wort)