BLSA sounds alarm on high costs of doing business in SA
Business leaders are worried that President Cyril Ramaphosa’s administration has reneged on some of its commitments to local businesses.
In the firm’s latest forecast ahead of the upcoming annual budget speech, Deloitte painted a grim picture for local businesses. Picture: Pexels
JOHANNESBURG - Business Leadership South Africa has again sounded the alarm on the high cost of doing business in the country, as companies buckle under pressure.
Challenges in the energy and logistics sectors are among the biggest drawbacks contributing to tougher business conditions.
The lobby group also believes a failure by government to ease red tape has only added to the pressure.
Business leaders are worried that President Cyril Ramaphosa’s administration has reneged on some of its commitments to local businesses.
At the 2019 State of the Nation Address, creating a conducive business environment was a priority.
This included plans to reduce the regulatory barriers for small businesses.
But CEO of Business Leadership South Africa, Busi Mavuso, said that last week’s SONA was flat on its agenda to improve the business environment.
While Mavuso admitted that some regulatory reforms had helped, she said that business owners were still finding it harder to run their companies.
She said that a lack of skills, as well as rampant crime and corruption, were another worsening challenge for businesses.
Government has now been warned to turn its attention to these challenges if businesses are to grow, create jobs, and increase tax revenue.