JOHANNESBURG – Even with the hint of a recession, one needs to remain optimistic through these challenging times because we can clearly see there is a lot of investment going into businesses and into infrastructure. There is no reason to panic yet.
Cabinet's economic stimulus package that is set to be released shortly will hopefully give the economy a much-needed boost. It should also address current challenges in the mining, telecommunications, tourism and transport industries.
The large number of new major developments in and around most major centres is promising. A good example is the Sandton Gated precinct, a new R3 billion eco-friendly smart mini-city that will serve as a commercial and residential hub.
There is even a 10-storey, 128-unit apartment block going up in Hillbrow, an investment of some R40 million. It’s clear that there are many savvy developers who are investing in major inner-city developments, refurbishing buildings and establishing neighbourhood improvement districts.
This shows it is business as usual for local entrepreneurs, always finding ways to take advantage of the many opportunities that challenging economic conditions offer. By understanding the local economy and business environment, they know how to turn tough times into big wins.