The majority of local business leaders are upbeat about South Africa according to Avusa Media and BDFM Publisher’s latest 2010 South African Business Research Evaluation (SABRE) results.
The research conducted by Ipsos-Markinor with SA’s business elite confirmed that business sentiment is looking up with 62% of the business market saying their company is better off today than a year ago, and 72% will be even better off in a year’s time. Four in five business professionals feel proud to be South African and most disagree that SA is going the Zimbabwe way and 72% have not considered emigration at all.
The study, which is conducted every two years, shows that 58% are optimistic about the current business environment and this remains unchanged since 2007.
These insights about South Africa’s top-end business professionals and entrepreneurs were announced by Avusa Media and BDFM Publishers yesterday.
The 11th release of SABRE sampled 2 016 business decision makers, representing a business market of 486 000 people, over February and March this year. The sample comprised of businessmen and women of all races working full time with a component of retired people living in Gauteng, Cape Town, Port Elizabeth/Uitenhhage, East London and Durban.
More than half are in senior or top management and 54% are key decision-makers in their departments or divisions. Two thirds personally earn R20 000 per month or more.
Another positive finding in the research is that the prudent fiscal and monetary policies of the SA government are not only internationally praised, but also appreciated by South African business. Two-thirds of the survey respondents have confidence in the Minister of Finance, Pravin Gordhan, and Reserve Bank Governor, Gill Marcus.
However, businesses are cautious about expansion into the African continent. Expansion seems to be left to the Chinese with less than half foreseeing strong growth or expansion in the future. The recession is more strongly felt on a personal level with this market with a third saying they are just coping on their present income while 60% are comfortably off.
“Regarding media consumption, newspapers far outshine electronic media as the primary, most useful and most trusted source of business or financial information. This sentiment has not changed since 2007 and, as in the last survey, newspapers continue to grow in popularity,” says Lynette Benjamin, Avusa media market research manager.