Survey shows up South Africa
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TABJ – Jan 25 - A recent survey by Grant Thornton has shown that 37 per cent of private South African business owners blame ‘red tape’ for preventing their progression.
The survey, which questioned CEOS, chairmen and business owners, showed overregulation to be the major concern, followed by the lack of a skilled workforce with 36 per cent.
Andrew Layman, Durban Chamber of Commerce and Industry CEO, was not surprised by the results and said that the regulatory environment in South Africa needed to be reviewed.
Layman believes it is complex regulations, such as governance requirements, labour issues and the black economic empowerment, which are stunting business growth.
Keith Brebnor, CE of the Johannesburg Chamber of Commerce and Industry, said that the regulatory environment has made it very intimidating for young people to set up their own businesses in South Africa.
Other results from the survey included the discovery that 27 per cent of KwaZulu-Natal business owners had seriously considered permanently vacating South Africa in the last year due to high crime rates.
Deepak Nagar, managing partner of Grant Thornton Durban, said: “the impact of crime on South African business is still unacceptably high.”
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