Companies set to recover from economic woes
By TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – A positive year has been projected for South African businesses, which have been enduring slowing economic growth.
Yudhvir Seetharam, Head of Analytics at First National Bank, says according to National Treasury, the gross domestic product growth rate is forecast at an estimated 1,3 percent for 2017.
The outlook, he says points to a tough year ahead for business.
However, there are a few trends that promise a positive narrative for businesses during the year.
“It isn’t all doom and gloom,” says Seetharam.
“Yes, the economy is slowing. However businesses that want to gain any wins in the market place in 2017 will have to operate in a more astute manner.”
He projects growth in pre-owned car market, fast –food uptake, growth of the tourism sector, increased use of e-commerce and the stabilisation of agriculture.
“2017 will no doubt be a trying year for SME’s across all industries, but with a recovering world market, and a Rand that is finding strength. We should start to see an upward trend towards the end of 2017. Hopefully the worst is behind us.”
– CAJ News
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