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Construction & EngineeringCape Town, the global city: What lessons can we learn as a country?
Mike Abel 15 Apr 2025





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“It’s no wonder then that these companies are the country’s hope for economic recovery. But what is being done to ensure their success?” asks Andrew Hardie, chief executive officer at Pay@, a payment aggregator and provider of secure payment solutions.
South African SMEs have the highest failure rate in the world. In fact, 70% to 80% of small businesses fail within five years. Studies conducted by the Universities of the Free State, Limpopo and Cape Town have found that a lack of business capabilities (including skills and tools) is one of the key reasons for this.
Hardie notes that while training is an essential part of overcoming this challenge, most business owners simply do not have the time and means to upskill themselves. “However, both the private and the public sector are developing tools and resources to aid and empower SMEs.”
Pay@ launched a solution for the sector last year called Yap which is an electronic bill presentment and payment tool for on-the-go invoicing and payment requests. Yap not only helps business owners present single and bulk payment requests across multiple digital channels, but also enables them to collect payments across retailer and digital platforms.
The CEO adds that Pay@ follows the SME servicing space with interest and notes other third-party service providers that are making a difference, including:
“With tools like these and others helping business owners, the future looks bright both for SMEs and the South African economy,” concludes Hardie.