Late payments are a hidden tax on small business—and the spreadsheets are losing

Even when sales rise, most South African small firms still report cash-flow strain. Two in five struggle with late payers and spend hours chasing invoices—a hid

South African small businesses entered 2026 with a paradox on their books: most reported stronger trading, yet cash still felt tight. In a January survey of 427 firms with up to 200 employees, eight in ten said revenue had grown over the past year and three quarters reported higher profits—but 62% still experienced cash-flow problems in the same period ( State of South African Small Business 2026 ). For many owners, the gap between a healthy sales line and a healthy bank…