Local businesses feeling positive

DURBAN – Even in the face of ongoing sluggish growth, exacerbated by widespread allegations of corruption and muted domestic economic activity, South African entrepreneurs remain overwhelmingly optimistic. 

This was revealed in the Real State of Entrepreneurship Survey 2018, which found the vast majority of more than 1000 business owners surveyed felt positive about the business climate and outlook for the 12 months ahead.

It is these resilient individuals who will have their deserved time to shine in the 2019 Entrepreneur of the Year competition sponsored by Sanlam and BUSINESS/PARTNERS, says Kobus Engelbrecht, spokesperson for the competition. Entries for the competition – now in its 31st year – are officially open.

Entrepreneurial competitions of this nature serve a greater purpose than just celebrating South Africa’s spirited self-starters, added Engel­brecht. “Credible platforms such as the Entrepreneur of the Year competition also act to inspire the next generation of budding entrepreneurs, who have the potential to drive real economic growth at a time where the country needs it most.”

He referred to the World Bank’s downward revision of South Africa’s projections for economic growth this year to 1.3% – 0.6% lower than the South African Reserve Bank’s earlier prediction of 1.9% in November. “Despite these challenging economic conditions, year on year we still find exceptional entrepreneurs who continue to identify gaps in the market and transform these into viable businesses.”

Engelbrecht said the 2019 Entrepreneur of the Year competition offered prizes valued at more than R2million, including cash prizes of R70000 for each main category winner, and R200000 for the overall winner.

“All South African businesses are eligible to enter this competition, and prizes will be awarded across six categories.”

Entrepreneurs interested in entering the competition can download entry forms online at www.eoy.co.za as well as interact with fellow entrepreneurs and entrants on the competition’s social media platforms www.twitter.com/@EOY_SA and www.facebook.com/EOY.SA. The closing date for the competition is May 31.


108381969 - Local businesses feeling positive

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