The use of trusts for business and trading

BANKRUPTCIES in South Africa averaged 229 companies a month from 1980 until 2020. In August last year, an all-time high of 511 companies declared bankruptcy, compared to the record low of 63 companies in May 1988. The projected bankruptcies for 2021 are 220 companies a month and 240 companies a month for 2022.

It is a known fact that more than 90% of business owners close their doors within five to seven years of opening them. Up to 90% of these business owners were likely stripped of