Business strategies for dealing with inflation Africa 2023
In 2023, a survey found that to mitigate the effects of inflation, a significant proportion of micro, small, and medium enterprises (MSMEs) had to resort to different strategies. A share of 36 percent of them utilized their personal savings to support the business, while 32 percent reduced their business activities. In addition, nearly one-fourth (23 percent) attempted to overcome the financial strain by implementing measures such as employee layoffs or salary cuts.