Stats SA survey shows formal sector businesses hard hit by Covid-19 lockdown

CAPE TOWN  – A Statistics South Africa (Stats SA) survey among 707 businesses has shown that many formal sector operators have experienced heavy losses due to the government-enforced Covid-19 lockdown, now in its extended phase.

Many of the businesses indicated that they were not confident they could continue operating for the duration of the pandemic. 

The results of the rapid response survey were released by Stats SA on Monday.

Businesses were asked how the current crisis had affected their operations for the period March 30 to April 13. The country’s lockdown started on March 27. 

It said, more than 700 businesses in the formal sector responded to the survey, outlining the pandemic’s impact on turnover, trading, workforce, imports and exports, purchases, prices, and business survival.