Unmanaged employee debt poses risk to small businesses

The SME Toolkit South Africa recently conducted a survey among SMEs to establish whether employee debt poses a risk to small businesses, and if business owners are aware that employee debt could have an adverse effect on the business’s bottom line.

The results show clearly that business owners don’t know that if employees do not manage their finances well, it can adversely affect the business’s bottom line. 83% of small business owners reported that employee debt has impacted on productivity, and 52% experienced employee theft or fraud in the business as a result.

The results of the survey are now available for your information.