In 2023, a survey found that to mitigate the effects of inflation, a significant proportion of micro, small, and medium enterprises (MSMEs) had to resort to different strategies. A share of 36 percent of them utilized their personal savings to support the business, while 32 percent reduced their business activities. In addition, nearly one-fourth (23 percent) attempted to overcome the financial strain by implementing measures such as employee layoffs or salary cuts.
Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023
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GeoPoll. (February 21, 2023). Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023 [Graph]. In Statista. Retrieved November 23, 2024, from https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/
GeoPoll. "Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023." Chart. February 21, 2023. Statista. Accessed November 23, 2024. https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/
GeoPoll. (2023). Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023. Statista. Statista Inc.. Accessed: November 23, 2024. https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/
GeoPoll. "Strategies for Dealing with Inflation among Micro, Small, and Medium Enterprises (Msmes) in Africa in 2023." Statista, Statista Inc., 21 Feb 2023, https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/
GeoPoll, Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023 Statista, https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/ (last visited November 23, 2024)
Strategies for dealing with inflation among micro, small, and medium enterprises (MSMEs) in Africa in 2023 [Graph], GeoPoll, February 21, 2023. [Online]. Available: https://www.statista.com/statistics/1373495/business-strategies-for-dealing-with-inflation-in-africa/
