South Africa: Business costs too high – Busa

5 March 2010

Business Unity South Africa (Busa) on Wednesday said the government’s new industrial policy action plan failed to address the high cost of doing business and the difficulty of obtaining financing.

“The intention to focus Industrial Development Corporation (IDC) priorities on responding to the industrial policy action plan is welcomed,” Busa said at public hearings in Parliament on the action plan.

“However, a key challenge in making this successful is that the current approach of the IDC is similar to that of private banks, where the management of risk makes it very difficult if not impossible for emerging entrepeneurs to obtain financing.”

The business confederation said for the industrial action plan to succeed the department of trade and industry must take into account the cost constraints faced by companies and [continue reading]


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