Three business turn-around tips before throwing in the towel

Gerrie van Biljon Advice to SA business owners in avoiding liquidation Although the number of liquidations recorded in South Africa has been steadily decreasing over the past six years, there were still close to 2 000 businesses that were liquidated in 2015, leaving ample room for further improvement. This is according to Gerrie van Biljon, executive director at Business Partners Limited (BUSINESS/PARTNERS) , who says that during tough financial times, such as those currently being experienced, South African business owners need to take active preventative measures to encourage sustainable growth and avoid company liquidation. The May 2016 Statistics of liquidations and insolvencies report by Statistics SA show that from 2010 the number of liquidations have decreased from 3 992 per year to 1 962 in 2015. The first five months of 2016 also reported a decrease of 3.5% when compared to the same period in 2015. “While this decline is encouraging, what is concerning is that 807 bus...