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Diversified strategies key to business sustainability

20 Jul 2023 - by Liesl Venter
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2022 was a pivotal year for businesses in Gauteng as the region began its journey toward economic recovery and growth following the devastating impact of the Covid-19 pandemic. With high unemployment rates and a stagnant local market, businesses in Gauteng had to ref lect on their current positions and adopt measures to rebuild and expand, according to Bernadette Zeiler, CEO of the Johannesburg Chamber of Commerce and Industry (JCCI).“The Covid-19 pandemic brought significant challenges to Gauteng's business landscape, with many enterprises forced to shut down or operate at reduced capacities. The resulting rise in unemployment levels further added to the economic strain,” she told Freight News.As businesses continued to take proactive steps to bounce back and reimagine their futures, the emphasis at present was to accelerate Gauteng’s economic recovery and reconstruction, said Premier Panyaza Lesufi, who launched a new provincial growth and development strategy early in 2023.Growing Gauteng To g e t h e r (G G T 2030) sets out to bring drastic change to the living conditions of people in the province, to address the rampant crime issue and improve unemployment by driving economic growth.Lesufi has acknowledged that many people in Gauteng have lost confidence in the government as “they think we talk too much and do less” and he has committed his government to getting Gauteng back to work.According to Zeiler, diversified strategies have to be adopted to assist businesses to be sustainable. “Partnerships and collaboration with strategic stakeholders are paramount in these times,” she said, indicating that now, more than ever before, government agencies, business associations, and financial institutions will have to join forces to develop comprehensive plans to assist businesses in their recovery and expansion efforts.More importantly, she said, these initiatives must be focused on identifying new markets, forging strategic linkages, and creating opportunities for growth beyond the local market.One key aspect of the government’s plan to improve Gauteng is dealing with rampant crime. According to Lesufi’s office, this requires revamping legislation in three crucial areas. “Registration of cars, because cars are a common denominator in violent crimes, the elimination of illegal guns, and the need to migrate the province to use less cash in business transactions,” said a spokesman, indicating that steps were being taken to increase security features of number plates. The government is also in the process of implementing a solution to track stolen firearms.“We urge retailers and all other businesses in Gauteng to eliminate cash transactions,” said the spokesman. “This will see fewer business robberies, cash heists and ATM bombings.”

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Gauteng 21 July 2023

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