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Stefan Steyn, senior business rescue practitioner from Business Rescue Partner, unpacks business rescue and the options available for SMEs.

The survival rate of South African small, medium and micro enterprises (SMMEs) paints a bleak picture. Eighty percent fail in the first five years.

The revamped Companies Act of 2008 provides struggling businesses with all the help they need to get out of trouble with business rescue legislation, as set out in Chapter 6 of the Act.

The Companies Act of 2008 introduced the concept of Business Rescue to South Africa. Since then it has had the effect of saving dozens of companies that may otherwise have been liquidated.

There are many reasons why a Businesses can be unsuccessful, we list a few here.

There are many reasons why a Businesses can be unsuccessful, we list a few here.