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According to the recent International Monetary Fund (IMF) economic growth for South Africa for the current year and 2018 is unlikely to surpass 0.8% after registering 0.3% growth in 2016. Consumer spending will remain fragile due to stretched household budgets and high debts. Businesses are eventually going to feel the impact of the struggling economy, however, now is not the time for panic, what is needed is focused and decisive action.
“Less talking and more action is needed if small, local businesses are to thrive,” this is according to Zizipho Nyanga, CEO of the Masisizane Fund. She adds that practical plans to partner and collaborate with local businesses is required if the country is to create meaningful development of entrepreneurs.
The strongest deterrent against FSP compliance missteps is or should be: