CEO of FNB Commercial Banking, Michael Vacy-Lyle, says, "One of the unfortunate results of lacklustre consumer spending is the negative impact on commercial businesses. The current economic conditions demand that commercial businesses introduce convincing measures to position themselves for long-term profitability."
He recommends a number of interventions that commercial businesses could take to weather the uncertain economic conditions, and remain commercially competitive:
"These are only a few of the solutions that commercial businesses could adopt to ensure that they remain competitive and profitable in 2014. Consumers will continue to wield the power due to direct and indirect economic impact, but there is still an opportunity to succeed as a commercial business," concludes Vacy-Lyle.