Vital info for SMEs Despite the country falling into recession, coupled with a dim economic outlook, it is not all doom and gloom for small businesses. Andiswa Bata, FNB Business Regional Head for Gauteng South West, says for many small businesses the outlook for the year ahead seems bleak due to a lower forecast for economic growth globally, challenging local trading conditions owing to inconsistent power supply, currency volatility and rising operating costs, amongst several factors. … [Read more...] about Recession proof your businesses
recession
SA economy exits technical recession
South Africa’s Gross Domestic Product (GDP) grew by 2.5% in the second quarter of 2017, Statistician General Pali Lehohla said on Tuesday. At a media briefing in Tshwane, Statistics South Africa (Stats SA) announced that GDP grew by 2.5% quarter-on-quarter (q-o-q) following a contraction of 0.7% in the first quarter and a 0.3% contraction in the fourth quarter of 2016. Economists had expected GDP to rise to 2.3%. “We estimate real GDP growth to improve to 2.3% q-o-q on an annualised … [Read more...] about SA economy exits technical recession
Recession proof your business
We are in an economic downturn and managing a business through an economic recession may be the toughest challenge an entrepreneur is ever faced with; however, if you do not fall prey to panic, a downturn also presents an opportunity to the business to confront its ineffective areas and remedy them. “Businesses should be able to do more than simply accept stagnating levels of growth, or even decline. In fact some businesses grow at surprising rates during economic recession. If there was ever … [Read more...] about Recession proof your business
Primary Sector of SA Economy in a recession
South Africa is not out of the recession woods just yet, economist Mike Schussler warned on Tuesday. South Africa just escaped being in a recession in 2015, with the third quarter growth of 0.7%, Statistics SA announced on Tuesday. However, the drought, low commodity prices and visa restrictions could shift the country into a recession by early next year, said Schussler, director of economists.co.za. "We got away without a recession this time around as the second quarter did have a … [Read more...] about Primary Sector of SA Economy in a recession
Recession unlikely in second quarter: Reserve Bank
The South African economy is unlikely to fall into a recession in the upcoming second quarter, the Reserve Bank said on Tuesday. In its June Monetary Policy Review (MPR) document, the central bank said that the domestic economy has suffered several adverse supply shocks particularly from strike action as well as electricity shortages which led to negative first quarter growth. Last week, Gross Domestic Product (GDP) data released by Statistics South Africa showed that seasonally adjusted … [Read more...] about Recession unlikely in second quarter: Reserve Bank
