Business unity is key to address South Africa’s lack of economic growth and social development challenges “Development does not need to be competitive.” This wa
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In a split second, I was in the midst of business geniuses and innovators, and I realised that I am doing very little to promote my business, as I do not make enough effort to meet like-minded acquaintances who have my best interests at heart. The conference was hosted by the effervescent Leanne Manas, who broke the ice like a rock star she is and kept us light-hearted, even in our well-tailored suits. Nedbank’s Chief Operating Officer Mfundo Nkuhlu provided a thought-provoking keynote address: “We have an economy that has battled to grow above 2%. In some quarters we are referred to as the 1% economy. It has been significantly below the population growth rate. This means that on a per capita income level, we have been getting poorer.
Sedres suggested that SMMEs focus on business development and training in their respective fields, which opens doors for market exposure that supersede supply chain gigs. Another business tip that Sedres emphasised is being familiar with the Sanlam Transformation Gauge 2023, a report barometer for performance in business.
“This not only helps the smaller businesses to thrive, but also ensures that the larger corporate entities contribute substantially to the transformation of the South African business landscape. Both strategies emphasise the importance of integrating ethical practices into business operations, ensuring that the growth of enterprises directly contributes to societal enhancement,” said Makalima.
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