{"id":160737,"date":"2017-02-27T15:57:10","date_gmt":"2017-02-27T13:57:10","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=160737"},"modified":"2017-02-27T15:57:10","modified_gmt":"2017-02-27T13:57:10","slug":"the-south-african-industries-hardest-hit-by-insolvency","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/160737\/the-south-african-industries-hardest-hit-by-insolvency\/","title":{"rendered":"The South African industries hardest hit by insolvency"},"content":{"rendered":"

Statistics South Africa has released its liquidations and insolvencies report for the past year, detailing the industries most hit by debt over the past year.<\/p>\n

The report found that those in the financing, insurance, real estate and business services\u00a0<\/strong>were most likely to file for insolvency in South Africa while those working in electricity, gas and water<\/strong> were the least likely to go insolvent.<\/p>\n

It is however important to note that according to the Stats SA report, 23% of South Africans currently work in the Business services sector, while only 1% work in the electricity, water and gas industry.<\/p>\n

For the purposes of the report,\u00a0insolvency refers to an individual or partnership which is unable to pay its debt and is placed under final sequestration.<\/p>\n

The number of insolvencies does not refer to the number of persons involved, as a partnership which is unable to pay its debt is regarded as one insolvency, irrespective of the number of partners.<\/p>\n

Liquidation refers to the winding-up of the affairs of a company or close corporation when liabilities exceed assets and it can be resolved by voluntary action or by an order of the court.<\/p>\n

The report also differed between\u00a0liquidation that was compulsory (i.e court ordered) and liquidation that was voluntary (winding-up by choice).<\/p>\n

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Read:\u00a0These are the 5 things South Africans want most in their office<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Statistics South Africa has released its liquidations and insolvencies report for the past year, detailing the industries most hit by debt over the past year.<\/p>\n","protected":false},"author":10,"featured_media":28513,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[25],"class_list":["post-160737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-active"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/160737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=160737"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/160737\/revisions"}],"predecessor-version":[{"id":160771,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/160737\/revisions\/160771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/28513"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=160737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=160737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=160737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}