Positive business for Ilembe

A survey of Ilembe businesses has shown that although the first quarter of the year was not good, the outlook for the future is more positive.

Enterprise Ilembe in partnership with the Ilembe Chamber of Commerce, Industry and Tourism have collaborated to produce the Ilembe Business Confidence Index (iBCI) aimed at providing a quarterly picture of business confidence in the Ilembe District, as well as an overall business forecast.

The survey was conducted between March 17 and 31 and showed that 55,9% of the participants are positive about business conditions over the next month, specifically looking at the increase in sales volumes and employment.

Service delivery and infrastructure provision – specifically shortage of water and electricity – are viewed as major problems, as well as skills shortages and other labour related issues.

Ilembe Chamber chief executive officer, Cobus Oelofse, is thrilled about this collaboration and the start of the iBCI. He said the survey has clearly pointed out the problem areas.

“We knew that the Ilembe market is expanding, vibrant and very attractive. The number of businesses that expressed a concern with the amount of competition or the size of the perceived market was a significant indicator.

“Businesses in certain sectors have their work cut out with regards to what differentiates them and how they can effectively compete,” he said.

He said the success and the usefulness of the iBCI depends on how the Chamber and other stakeholders respond to the iBCI and the underlying data.

“For me the iBCI is a quarterly performance review of the progress that stakeholders are making, in the eyes of the business community within the district, with regards to economic development and business support.

“It will provide us with regular, objective feedback about what are the issues that we need to make our development priorities if we want to see our region achieve its economic potential,” he said.