Gary, I'm glad to see you're back.

I do not quite agree on the stats for failing SME's as many of these are sold on or merge with other businesses or morph into something else. So, if we look at deregistered companies or CC's, the stats are definitely wrong. If we consider stats provided by funders, the stats may also be wrong as it would only apply to those who were funded by the banks, and not to those who used bootstrapping or other means outside of the formal funding pool. In both cases stats can be distorted.

I agree that providing less than the required funding is very dangerous. Its like providing a guy with half a tank of petrol to drive from JHB to Cape Town. Poor planning and bad financial management must be the biggest contributors to failure. In the end it boils down to CASH FLOW. Cash flow is the fuel of any business and without it you will not survive.