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Cape Town – South Africans must stop their binary thinking about economic development, according to Andrew Boraine, CEO of the Western Cape Economic Development Partnership (EDP).
He was part of a panel discussion on the challenges and benefits of having an entrepreneurial spirit, which was presented by PwC, Wesgro and the City of Cape Town on Monday.
“Some people say we must have more competitiveness, while an equally large group says it should all be about including people who are not currently part of the economy. We should be focusing on both,” said Boraine.
“The economic debate is very polarised at the moment and that is not healthy. Just because we do not always agree with each other as South Africans, we should still work together.”
It is also important move from mere visions to the implementation thereof and to make sure scale can be reached in the various projects, according to Boraine.
“In South Africa we must realise there should be different tools for different objectives. The supply and demand side must also be in sync as far as the needs of the latter,” he said.
Lionel Archillies of the department of trade and industry (dti) in the Western Cape, said the department is trying to use its various incentives as a means to address this tension between growth and inclusivity.
For tax expert William Eastwood, another member of the panel, the complexity of SA’s tax legislation makes it difficult for SMEs.
These days it has become quite “sexy” to listen to what young entrepreneurs have to say, according to Justin Stanford of 4Di Capital and another member of the panel.
“I started in a garage in Claremont 12 years ago and I had a lot of challenges,” said Stanford.
“My first two businesses failed, but the third succeeded because of the lessons I had learnt by then.”
He sees government regulation as the biggest constraint for SA entrepreneurs at the moment.
“The business community must stand together and become more internationally orientated,” he said.
Danie Fölscher, head of PwC in the Western Cape, said he thinks there is a lot of support and grants from the dti which is just not used. Therefore, it is important to pick up on how to utilise these through the right channels.
- Fin24
He was part of a panel discussion on the challenges and benefits of having an entrepreneurial spirit, which was presented by PwC, Wesgro and the City of Cape Town on Monday.
“Some people say we must have more competitiveness, while an equally large group says it should all be about including people who are not currently part of the economy. We should be focusing on both,” said Boraine.
“The economic debate is very polarised at the moment and that is not healthy. Just because we do not always agree with each other as South Africans, we should still work together.”
It is also important move from mere visions to the implementation thereof and to make sure scale can be reached in the various projects, according to Boraine.
“In South Africa we must realise there should be different tools for different objectives. The supply and demand side must also be in sync as far as the needs of the latter,” he said.
Lionel Archillies of the department of trade and industry (dti) in the Western Cape, said the department is trying to use its various incentives as a means to address this tension between growth and inclusivity.
For tax expert William Eastwood, another member of the panel, the complexity of SA’s tax legislation makes it difficult for SMEs.
These days it has become quite “sexy” to listen to what young entrepreneurs have to say, according to Justin Stanford of 4Di Capital and another member of the panel.
“I started in a garage in Claremont 12 years ago and I had a lot of challenges,” said Stanford.
“My first two businesses failed, but the third succeeded because of the lessons I had learnt by then.”
He sees government regulation as the biggest constraint for SA entrepreneurs at the moment.
“The business community must stand together and become more internationally orientated,” he said.
Danie Fölscher, head of PwC in the Western Cape, said he thinks there is a lot of support and grants from the dti which is just not used. Therefore, it is important to pick up on how to utilise these through the right channels.
- Fin24
