South Africa: BEE `vital for winning new business`

source: SouthAfrica.info
5 May 2010

Just over 60% of South African privately held business owners believe that black economic empowerment is an important factor in terms of winning new business, Grant Thornton’s 2010 International Business Report finds, with companies preferring to fast track key employees and develop existing staff to achieve empowerment targets.

The figure of 61% has remained fairly constant since 2008 (59%) and just 2% down since 2009 (63%).

When the South African data is assessed regionally, it is interesting to note that BEE is far less of an issue in KwaZulu-Natal (53%) in terms of winning business, while Eastern Cape (66%), Gauteng (65%) and Western Cape (61%) rank BEE as an imperative.

“The past 36 months have seen a similar level of attention on broad-based BEE implementation with most [privately held business] owners citing the issue as important,” said Grant Thornton’s Tony Balshaw in a statement this week.

“However, we believe that surviving the tough economic conditions was the primary focus in most companies over the [continue reading]

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