With the ever growing opportunities in business , entrepreneurs now have the opportunities to venture into many different fields. Here are the top sectors for South African entrepreneurs to capitalise on in 2015.
Both Government and the private sector have allocated large budgets to improve this sector. More franchises are increasingly being established, especially Technical and Vocational Education and Training (TVET) colleges (formerly known as Further Education and Training (FET) colleges), due to the demand for such facilities and skills in the country.
While the sector will continue to offer opportunities in 2015, entrepreneurs should be exploring export orientated manufacturing. Government offers attractive incentives, such as rebates and tax deductions, for component manufacturing, as well as an entrepreneur’s ability to develop overseas markets for such products.
While manufacturing should be export orientated due to the weak rand, entrepreneurs should take advantage of this in the tourism sector due to foreign tourists benefiting from the favourable exchange rate. Business tourism is increasingly growing in attractiveness due to South Africa being recognised as the gateway to Africa, and due to the weak rand.
While at a low base due to the labour disputes encountered over the last 18 months, the sector has recently experienced an increase in expenditure on capital programmes, especially in coal mines as older mines’ reserves are shrinking and coming increasingly under pressure to supply more coal to our mainly coal fired electricity generating power stations.
5. Infrastructure at large
Government, at all levels, is investing in upgrading services and facilities and smaller contractors should seek ways to get involved in the various scheduled projects. Apart from low-cost housing, basic services, such as water, electricity, sewage plants, as well as repairs and upgrades to Government buildings and recreation sites, are needed in cities and towns across the country.