Junk status: Entrepreneurs must get creative

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Johannesburg – Now that South Africa’s credit rating has been downgraded to junk status, it will take entrepreneurs longer to turn profitable, however there are still opportunities for them to thrive, said an analyst.

Ratings agencies Standard & Poor’s and Fitch downgraded South Africa’s sovereign rating to sub-investment grade. Moody’s, which has South Africa ranked two notches above junk status, has placed the country on review for a downgrade.

This move saw the rand take a knock but has since recovered. Further, business and consumer confidence is expected to decline.

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