Most South African Small Firms at Risk of Collapse, Survey Finds
Some 53% of the 1,600 entities canvassed for the inaugural Small Business Growth Index said they were contracting, trading with difficulty or at risk of closure, with costs of some of inputs such as transport and raw materials climbing as much as 61%.
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Yahoo
3 hours ago
- Yahoo
Sydney chicken shop owner reveals tough fight thousands of Aussies face: ‘Really hard'
A Sydney chicken shop owner has opened up about the 'hard' operating conditions facing thousands of Aussie small businesses around the country. Businesses are continuing to battle the rising cost of rent, wages and goods, coupled with still cautious consumer spending. Joe Avers co-founded Super Nash Brothers, a Nashville-style fried chicken shop, in 2021, which now has three locations in Waitara, Waterloo and Willoughby. While the business has seen sales steadily increase this year, Avers told Yahoo Finance the last two and a half years had been 'really, really hard' for profitability. 'Hospitality in itself is a really difficult industry regardless, but there's just been so many pressures between rising energy costs, increases in wages, increases in ingredients costs and raw materials,' he said. 'On top of rent increases with CPIs and our third-party delivery platforms have been just so and so expensive and getting more and more expensive as time goes on, unfortunately.' RELATED Aussie cafe owner's 'pressure' of impending $124,000 superannuation change Australia's 'ancient enemy' returns sparking major Centrelink warning Centrelink pension warning for 4.3 million Aussies facing super nightmare Avers, who co-founded the business with partners Ross Kempt and Will Kierath, said the chain's June year-on-year revenue had dropped by between 3 to 5 per cent. 'It wasn't an enormous amount, but we historically have always been stronger in winter because we're fried chicken, spicy, hot, comfort food,' he said. 'Because of the growth we saw earlier this year, we were like June, July, August are going to be insane, record months, we're going to be healthy from a business perspective. '[So] it was interesting to see we didn't have that same jump from May to June as we have in the past.' Avers said cost-of-living pressures were a factor behind the softer sales. The latest retail spending data found spending in cafes, restaurants and takeaway food services dropped 0.4 per cent in June. To combat cost-of-living pressures experienced by customers, the business introduced a more wallet-friendly menu about 18 months ago, which are slightly smaller versions of their existing combos at 20 to 30 per cent cheaper prices, and has seen good customer adoption. It's also introduced different deals throughout the week through its loyalty program. 'While we are seeing good sales numbers in terms of the volume of customers coming through, the average sale price has definitely dropped off as a result,' he said. Operating costs continue to increase On the operating side, Avers said costs like energy, rent and ingredient costs had been steadily increasing. 'We used to pay $20, $25 for 20 litres of oil, we now pay the equivalent of $85 for 20 litres. So that's gone up almost four times,' he said. 'Every week, there's a new item that goes up. Even if it's just 1, 2, 3 per cent, if it's happening on every product every few months, by the end of the year, the products that we were profitable on previously are pretty much line ball.' Avers said the business had not increased the price of its products in three years. 'It's something that we've really sort of battled with. We get to a point where there's sort of no money in the bank and we go if we increase this product and this product by $1 each, there'd be an extra $2,000 at the end of the week, which would be a significant improvement for us in our cash flow position,' he said. 'But the challenge that we face is, if we do increase it by $1, how many customers do we potentially have drop off and it's just that last straw for a customer.' Small businesses facing headwinds across the board Avers isn't the only small business owner who is experiencing softer sales right now. New research from Xero found Australian small business sales slowed in the June quarter, recording the slowest growth in sales since 2020. Sales grew 3 per cent year on year in the June quarter, down from 5.3 per cent in the March quarter and 2.4 per cent in the December quarter and below the long-term average of 7.8 per cent. Sales were volatile month to month, with the Reserve Bank's rate cuts in February and May appearing to have a short-term positive impact on sales in March and June. Hospitality sales were softer than the average, rising 1.1 per cent year on year, compared to the average 2 per cent year on year growth seen in the two previous quarters. Xero economist Louise Southall told Yahoo Finance the slower growth pointed to continued caution around discretionary spending, with many households still tightening their belts on non-essentials like dining out. 'While recent rate cuts and easing inflation have provided some relief, hospitality businesses are also managing high operating costs, labour shortages and shifting consumer sentiment — all of which add to the pressure,' she said. But business sees 'light at the end of the tunnel' While sales growth is still below the long-term average and slower than previous quarters, Southall said it was encouraging to see Australian small business sales were continuing to rise. 'Australians who are in a position to do so can support hospitality small businesses by dining at independent venues, buying from local cafés, or leaving a positive review for their favourite spots,' she said. 'Small, everyday choices can make a real difference, helping small businesses remain viable and keeping local communities thriving.' Avers said he'd encourage customers to order directly from businesses, rather than use third-party delivery services like Uber Eats and DoorDash. 'What most customers don't know is that Uber Eats actually charges like 30 per cent to the restaurant for the total order value, and then on top of that, the customer then pays the delivery fee,' he said. 'That's a service that is great and helpful but they are paying almost twice as much as they would in store for the convenience of that.' Avers said he was hopeful the business would keep growing and said they weren't planning on closing their doors anytime soon. In fact, they hope to open another store in the next 12 months and are currently looking at franchising opportunities. 'We believe in our product, our team, our brand, our customers enough. We've been through the worst of it through covid and the highest point of interest rates, we'd like to think that there's light at the end of the tunnel,' Avers said. 'We're definitely going to continue to stick it out'
Yahoo
5 hours ago
- Yahoo
Newmont (NEM) Secures Akyem Lease Ratification With US$770 Million Divestiture Proceeds
Newmont recently announced that the Ghanaian Parliament ratified the renewal of the Akyem East Mining Lease, with Zijin Mining Group paying $100 million as part of Newmont's divestiture program expected to generate $3.1 billion this year. This financial boost aligns with the company's capital priorities of debt reduction and shareholder returns. Over the last quarter, Newmont's share price experienced a 21% increase. Despite market volatility influenced by tariffs and weak jobs data, Newmont's decisive divestiture strategy and substantial after-tax proceeds may have bolstered its share price gains, contrasting broader market declines. Every company has risks, and we've spotted 2 weaknesses for Newmont (of which 1 is a bit concerning!) you should know about. These 18 companies survived and thrived after COVID and have the right ingredients to survive Trump's tariffs. Discover why before your portfolio feels the trade war pinch. The recent approval of Newmont's Akyem East Mining Lease renewal and the substantial capital injection from its asset divestiture program should reinforce the company's commitment to capital priorities such as debt reduction and enhancing shareholder returns. Over a three-year period, Newmont's total return, which includes share price appreciation and dividends, was 54.49%. This reflects steady long-term growth, despite being more impressive in the recent quarter with a 21% increase. Over the past year, Newmont's performance outpaced both the US Metals and Mining industry, which returned 13.4%, and the broader US market, which returned 17.7%. The divestiture proceeds of US$3.1 billion may bolster Newmont's revenue and earnings trajectory, feeding into ongoing portfolio optimization and potentially elevating operational efficiency. Analysts anticipate revenue growth of 2.7% annually, supported by high-margin projects and strategic asset focus. However, forecasts indicate a decline in earnings of 2.6% per year over the next three years, suggesting closer attention to cost management and project execution risks may be warranted. With the share price at US$62.59, it's trading at a 12.42% discount to the analyst consensus price target of US$70.36, indicating potential room for growth if management successfully mitigates operational challenges and leverages the favorable economic factors continuing to support gold prices. Understand Newmont's track record by examining our performance history report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NEM. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Entrepreneur
6 hours ago
- Entrepreneur
Boost Team Productivity and Security With Windows 11 Pro, Now $15 for Life
Ideal for entrepreneurs and small-business owners who are looking to streamline their PC setup. Disclosure: Our goal is to feature products and services that we think you'll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. If you run your business from a PC—or manage a team that does—then your operating system isn't just background software. It's your daily control hub, the foundation for security, productivity, and system compatibility. That's why I recently upgraded to Microsoft Windows 11 Pro, now available for only $14.97 (reg. $199) as a lifetime license. Windows 11 Pro isn't just a cosmetic upgrade. It builds on the Windows 10 foundation with performance improvements, enhanced multitasking features, and business-level security—all of which make a noticeable difference when you're managing clients, projects, or internal systems. I've personally seen faster boot times, smoother app switching, and stronger integration with cloud platforms like OneDrive and Microsoft 365. The productivity features alone have been a big win. Snap Layouts and virtual desktops make it easier to organize workstreams—whether I'm reviewing contracts on one screen or tracking project timelines on another. And with built-in BitLocker encryption and remote desktop access, I can safely access files and devices when I'm on the go or working remotely. From an IT and business management perspective, the Pro version gives you access to key features like Group Policy, Hyper-V virtualization, and enterprise-grade identity management. It's ideal for small business owners scaling their operations or freelancers managing client data. There's also an upgraded AI assistant, Copilot. It's powered by ChatGPT-4o and can help with image and article generation, answer your questions, and even help you study for certification exams. Best of all, this is a one-time purchase—no subscription or recurring fees ever again. That means predictable costs, fewer licensing headaches, and software that won't suddenly become inaccessible due to missed renewals. Whether you're looking to upgrade your own PC, equip a small team, or prep a new workstation without blowing your software budget, this deal offers a low-lift way to future-proof your setup. Equip your work or office devices when you grab one of these Windows 11 Pro lifetime licenses now for just $14.97 (reg. $199), a fraction of the standard cost, for a little while longer. Microsoft Windows 11 Pro See Deal StackSocial prices subject to change.
