What’s next in the Lowveld?

At a breakfast function held at Emnotweni Arena, Wilkinson was able to give guests a global perspective on local trends as he is an American businessman, currently based in Chicago. In conjunction with his South African business partner, James Rice, he also is privy to the highs and lows of running a local business.

Lowveld is the best place to be at the moment

Wilkinson said, “The Lowveld is the best place to be right now to make money.” He said there is more opportunity here than anywhere else and predicted that an economic storm of financial fortune is on its way – for some it has already arrived.  “Opportunities will soon rain down on us,” said Wilkinson.

Where does his optimism come from? He has made a thorough study of cyclical business trends and presented proof at the breakfast, from his current list of clients, of industries that are experiencing recent and sustainable growth.

Manage expectations and expenses

However, Wilkinson was quick to point out that, in anticipation of this wave of growth, it is essential to manage your expectations and your expenses accordingly. On the one hand he said, “Right now you need to spend the money to gear up for the approaching growth wave, which means getting the right people and processes in place.

And on the flip side, he warned, “Know that the wave will crash – the trend will turn. Be ready for the downturn by providing financially for tough times.” He recommended setting aside a percentage of your earnings for when the anticipated wave of fortune hits the Lowveld. “Make sure you have enough capital to ride the trough until the next big wave comes along.”

The former (gearing up) is hard to do when every day is just about paying bills and survival. The latter (saving for a rainy day) is all about discipline. He warned, “Don’t be tempted to buy yourself a luxury vehicle and take an overseas holiday just because you feel you deserve them. “Businesses fail, that’s a fact of life,” said Wilkinson. “But learn the lessons. Don’t repeat your mistakes.”

Caring for the community pays off

On a different note, he shared the biggest secret of the Lowveld – its people. Wilkinson said he was regularly astounded by how much “genuinely caring for the community” can impact on a business here. “This place gossips like nowhere else in the world,” he said to roars of laughter. “Make sure they have only good things to say about your business.”

He ended by thanking the KLCBT for its enduring support, without which his own business might not have survived. “The chamber is the first place to visit if you are starting up a new business in town,” he commented.

An emerging change of attitude in the Lowveld

The function was well attended, with standing room only. Wilkinson remarked that this was indicative of a change of attitude in the Lowveld; with business owners embracing the value of harvesting information and networking.

Thanks to …

The following sponsors were thanked for supporting the event: Hi-Q, Union Motors, Kiaat Hospital, Standard Bank, Adendorff Attorneys and Old Mutual. There were a number of other firms that also sponsored the event – a collaborative effort to end the year on an inspirational note.

Enquiries: James Rice (regional manager) at Global Equipping Centre on 083-412-1210.