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South African Small Businesses Thrive Amid Optimism for Growth

5/22/2025

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Summary

Story summary

Xero's 2025 State of Small Business Report reveals 83% of South African small businesses increased revenue last year.
90% of these businesses express optimism for future growth despite instability concerns.
42% plan to upskill staff, while 40% intend to hire more employees.
Support is needed in training, skills development, and funding.
Accountants are vital, with 80% of businesses valuing their expertise.

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Story summary

Xero's 2025 State of Small Business Report reveals 83% of South African small businesses increased revenue last year.
90% of these businesses express optimism for future growth despite instability concerns.
42% plan to upskill staff, while 40% intend to hire more employees.
Support is needed in training, skills development, and funding.
Accountants are vital, with 80% of businesses valuing their expertise.