The Johannesburg Chamber of Commerce and Industries says more than 9,000 businesses have closed down since the beginning of the year in the city alone due to the high crime rate.
The Chamber says the financial pressures due to the ailing economy are also to blame for the business closures.
Security experts say crime syndicates are now increasingly targeting businesses with high-value assets, such as expensive industrial equipment, generators and machinery, amongst others.
"Especially small businesses, they are closing down and suffering. The last time I heard the stats we had more than 9,000 businesses going under liquidation, you know, this year alone. We need to have something happening in the city. We need a renewal because when you go to the city anyone doesnt feel safe and comfortable so you can imagine what it does to business," says President of the JCCI, Connie Mashaba.
