#AfricaMonth
Trending
- Netflix reaches 40m users for ad supported planKarabo Ledwaba
Elections 2024
Jobs
- Senior Manager - CFA Fixed income / Credit investments Midrand
- Senior Accountant - Legal Industry Experience Johannesburg North
- Accountant - Portuguese Literate Johannesburg
- Key Account Manager Cape Town
- Trust Account Assistant Cape Town
- Debtors Clerk Pretoria North
- Debtors/Creditors/Payroll Clerk Pretoria North
- Trust Account Assistant Cape Town
- Credit Controller Johannesburg
- Senior Bookkeeper Pretoria North
Economic downturn calls for tough business decision-making
About 45 per cent of respondents said they were revising business plans to be “less ambitious” while 32 per cent said their new plans would be more ambitious. Almost 23 per cent said their business plans were unchanged.
Nearly 80 per cent of respondents said they intended to cut costs and reduce overheads. More than 63 per cent of businesses said they planned to invest in improved technology in order to increase productivity, save labour costs and reduce exposure to labour unrest.
Janine Myburgh, president of the Chamber, said these figures gave a clear indication that there was deep concern about the state of the economy and businesses were being forced to take some tough decisions to ensure survival.
“When you see that 80 per cent will be embarking on cost-cutting programmes you get some idea of the severity of the situation. It’s clear that 2016 is not going to be a great year job creation.”
“What we do find encouraging is that 32 per cent of the sample of our membership see new opportunities and have a very positive outlook for the year. More ambitious business plans could mean new jobs opening in new areas such as the renewables industry,” Myburgh said.