She said that while South African authorities could offer fiscal stimulus and interest rate cuts to moderate the effect in the short term, the survey highlighted the importance of looking at the long-term constraints companies faced as well. “It is clear that the impact of falling demand is being felt around the world.” Reduction in demand The survey finds that businesses in Botswana (54%) and Australia (47%) also identify this as their greatest business constraint. He added that privately held businesses in every market needed to be proactive, take time to understand the specific issues affecting their business, and develop strategies that allowed them to respond quickly to changes in the marketplace. This is the third consecutive year that workforce issues have been cited in Grant Thornton’s survey as the greatest impediment to growth in South Africa, though the figure is down from 48% in the 2008 survey. “More surprising, in the current economic climate, is that red tape continues to outrank cost of finance (29%) as a constraint to growth in South Africa,” the survey noted. Macquarie First South macro strategy head Nazmeera Moola said that the collapse in demand that began in the third quarter of last year was going to be the main focus for most governments and corporations around the world. A third of businesses in South Africa also cited regulations as their biggest constraint. “Reduction in demand is hurting businesses, but the shortage of skills remains the single most important constraint on business growth in South Africa,” Grant Thornton SA chairman Leonard Brehm said in a statement this week. The International Business Report finds that 49% of privately held businesses around the world identified a shortage of orders as their biggest barrier to expansion, a rise from 31% in 2008. Would you like to use this article in your publication or on your website? See: Using SAinfo material Globally, the countries most concerned about reduced demand were Japan (78%), Italy (70%) and Vietnam (64%). Economies less concerned about the shortage of orders include Thailand, the Netherlands and India. 19 February 2009 A shortage of orders was the second-biggest constraint in South Africa, with the number of business surveyed being concerned by the issue rising from 20% in 2008 to 34% in the current survey. Forty-one percent of South Africa’s privately held business cite the availability of a skilled workforce as the biggest constraint to business growth, according to consultancy firm Grant Thornton’s 2009 International Business Report. When asked about the area of regulation that has the biggest impact on their ability to grow, employment laws were ranked number one at 28% (29% in 2008) – considerably higher than any other kind of regulation. SAinfo reporter “Lack of skills and onerous regulatory burden are two constraints that [the] government can do a great deal to mitigate,” Moola said. “More focus is needed on these areas in 2009, to ensure that long-term growth potential remains strong.” Red tape Shortage of long-term finance is seen as a major issue in South Africa by only 17% of businesses compared to 27% globally. Globally, businesses in Mexico (66%) and Poland (45%) rank regulations as their biggest constraint to growth.
Share Facebook Twitter Google + LinkedIn Pinterest Ohio State University Extension is pleased to announce the 2019 Agricultural Outlook Meetings. In 2019 there will be seven locations in Ohio. Each location will have a presentation on Commodity Prices- Today’s YoYo. Additional topics vary by location and include U.S. Trade Policy: Where is it Headed, Examining the 2019 Ohio Farm Economy, Weather Outlook, Dairy Production Economics Update, Beef and Dairy Outlook, Consumer Trends, and Farm Tax Update.Join the faculty from Ohio State University Extension and Ohio State Department of Agricultural, Environmental, and Developmental Economics as they discuss the issues and trends affecting agriculture in Ohio. Each meeting is being hosted by a county OSU Extension Educator to provide a local personal contact for this meeting. A meal is provided with each meeting and included in the registration price. Questions can be directed to the local host contact.The outlook meeting are scheduled for the following dates and locations:Date: Jan. 24, 2019 Time: 9:00 am – 12:00 noon Speakers: Barry Ward, Ben Brown, David Marrison Location: St Mary’s Hall 46 East Main St. Wakeman, OH 44889 Cost: No Charge; $20.00 if past deadline RSVP: Call OSU Extension, Huron County 419-668-8219 By: January 22nd More information can be found at: http://huron.osu.eduDate: Jan. 28, 2019 Time: 6:00 pm – 9:00 pm Speakers: Ian Sheldon, Ben Brown, Aaron Wilson Location: Jewell Community Center Cost: $10.00 (after deadline $20.00) RSVP: OSU Extension, Defiance County 419-782-4771 By: Jan. 22 More information can be found at: http://defiance.osu.eduDate: Jan. 30, 2019 Time: 9:30 am – 3:30 pm Speakers: Ian Sheldon, Ben Brown, Barry Ward, Dianne Shoemaker, David Marrison, Kenneth Burdine Location: Fisher Auditorium Cost: $15.00 RSVP: Call OSU Extension, Wayne County 330-264-8722 By: Jan. 24 More information can be found at: http://wayne.osu.edu.Date: Feb. 13, 2019 Time: 5:30 pm – 9:00 pm Speakers: Barry Ward, Ben Brown, Ian Sheldon Location: Wayside Chapel, 2341 Kerstetter Rd., Bucyrus OH 44820 Cost: $15.00 RSVP: Call OSU Extension, Crawford County 419-562-8731 or email [email protected] By: Feb. 5 More information can be found at: http://crawford.osu.edu.Date: March 22, 2019 Time: 11:00 am to 4:00 pm Speakers: Barry Ward, Ben Brown, David Marrison, Ian Sheldon Location: Chamber Ag Day / Ag Outlook meeting, Darke County Romers 118 E Main St., Greenville Registration Flyer: http://go.osu.edu/2019darkeagoutlook Cost: $20 RSVP: Darke County Extension office at 937-548-5215 By: March 16th More information can be found at: http://darke.osu.edu.