SA firms upbeat at growth prospects
by SAVIOUS KWINIKA
JOHANNESBURG – SOUTH African businesses are confident about their own growth prospects although they are generally less optimistic about the state of their country’s economy than their peers in other parts of the world.
That is one of the key findings of the 2014 Sage Business Index , which also reveals that 65 percent of South African businesses expect their turnover to grow by an average of 4,9 percent over the next year.
“These results demonstrate the resilience of South Africa’s business sector, even in a year that has tested its tenacity.
“This year, businesses have been put to the test by labour unrest, a volatile currency, growing red-tape and regulatory pressure, and many other challenges,” says Ivan Epstein, co-founder of Softline and CEO of Sage Australia, Asia, Middle East and Africa (AAMEA).
He added: “Yet they remain committed to growing their businesses and playing a positive role in the economy. It’s especially interesting to note how technologies such as mobility are creating new efficiencies and opportunities for them. The Index reveals that they are enthusiastically embracing mobile solutions as a result.”
The Index shows global business confidence rising to a four-year high, with the majority of businesses around the world predicting growth in turnover and staff in the next twelve months.
The annual Sage Business Index surveys close to 14 000 small and medium sized businesses in 18 countries around the world.
According to researchers, for the first time in four years businesses around the world are more optimistic than pessimistic, with scores rising above 50 across all three areas surveyed: their own prospects; their national economies; and the global economy.
– CAJ News
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