With the economic outlook for South Africa at around 1% growth for 2017, we need to ask ourselves “when will we grow at rates that we can be proud of and that will meet the requirements of poverty alleviation in our country?”.
In order to achieve the 5% growth needed, systemic and strategic changes need to take effect and in aid of the National Development Plan and Industrial Policy Action Plan, the Department of Trade and Industry (dti) have been actively promoting the establishment of Black Industrialists.
The Department has already awarded 46 of the 100 "slots" earmarked for grant funding and, whilst the intention was to stagger approvals over a 3 year period, it’s expected that all 100 positions will be filled by end March 2018, if not sooner.
This year’s SONA was marked by the President’s announcement of plans for “radical
The budget speech, delivered by the Minister of Finance on Wednesday, gave us a more tangible idea of what this will mean for businesses. Both stressed the continued challenge posed by the divide between the previously advantaged and disadvantaged, and the policies they
This was a discussion posed at a Wits Business School (WBS) seminar that I attended recently. The importance of the Gateway methodology is that South Africa requires regional market penetration to grow its economy through the trade of goods and services.
Let’s not beat around the bush- Key decisions made by the finance Minister Pravin Gordhan in the 2016 Budget speech will impact your business growth and survival in this tough economic climate. The Minister had his job cut out for him as he made tough decisions to ensure that companies can reach their projected turnover goals for the next financial year resulting in the growth of our economy.
If you want to expand and increase your turnover in the next financial year here are the developmental funding opportunities identified from the budget speech 2016 per industry:
26 years ago to the day our former President Nelson Mandela stepped out of prison. Today, 11 February 2016, our current President Jacob Zuma took to the podium for the SONA 2016.
The SONA addresses many issues from economics to social matters like education and welfare. My article is purely focussed on business and the key points I got for the SONA.
I attended the “Davos Deconstructed” seminar at Wits Business School on 1st February 2016.
I must admit, I have been following the 4th Industrial Revolution discussion since the World Economic Forum and I have been fascinated.
We’re in for a total change in the way business, society and technology works and interacts and I am not sure how many people are actually aware of what’s happening, or even that something is happening.
>>Click Here<< to view a video that sums up the 4th Industrial Revolution
What does IR4.0 mean for the world?
Whilst Africa’s boom of a decade ago, when it was hailed as the new frontier, may be struggling to hold its place in the spotlight due to global conditions and their effect on emerging economies – Africa is still coming off of a low base economically and has huge potential.
This potential can be seen to be constrained by energy supply issues or the lack of energy in itself can be seen as BIG BUSINESS – either way, Africa needs an Energy plan for more consistent supply at better rates.
I attended a great session recently on the topic of the Cost of Complexity in Manufacturing, hosted by GIBS and presented by Andre de Ruyter, CEO of Nampak on September 16, 2015.
We have all, I'm sure, been reading of how the economy is not ideal for South African manufacturers and that with wage and labour issues, struggling consumer demand, power cuts and insufficient policy to support a healthy manufacturing environment, the picture looks bleak - this is the same old rhetoric we hear over and over.
Sure an economies cycle of growth and decline is never over but most people I know are pessimistic (at best) about the future of our economy and being in a sector that looks for growing businesses I found myself asking – where is the light?
A recent research report by McKinsey Global Institute, South Africa’s Big Five: Bold Priorities for Inclusive Growth provides a view into the enormous opportunity within the South African economy.
The new grant and loan fund – BIP (Black Industrialist Programme) – has been launched.
You’ve just had a meeting with a BEE consultant who has told you that the only way to keep a decent enough score is to either sell shares or really get involved in your value chain and support your suppliers.
Procurement may be regarded as the process that creates, manages and fulfils contracts relating to:
• the provision of supplies, services or engineering and construction works;
• the disposal of property;
• the hiring of anything; and
• the acquisition or granting of any rights and concessions.
Contracts, we all want one. It gives us security of revenue and helps to contribute to the sustainability of our businesses.
However, there is generally one concern – how will I fund this contract while I wait for my customer to pay me?
When it comes to raising funding for your business, there are various sources and forms to look at.
Fortunately for manufacturers, there are some options that are very appealing.
When one thinks about bringing on (a) BEE shareholders, most business owners say “why should I give my hard earned business away” and as a business owner I could not agree with you more.
Giving shares away doesn’t make much business sense, however, selling your shares to raise money for your business or to cash out and have some liquidity for all your hard work may be more appealing.
The IMF has recently stated that South Africa's power supply crisis poses the biggest obstacle to growth.
The effects of power outages and the inflationary effect of substantial increases in electricity prices are expected to continue to negatively influence the South African economy with the business confidence index having declined to 84.6 in June 2015 from 86.9 in May, falling to its lowest level since January 1999, said the South African Chamber of Commerce and Industry (SACCI).