Global Competitiveness Index: 4.0
Pillar 10: Market Size 8.3%
10.01 Gross domestic product
10.02 Imports of goods and services
The Chamber contributes to the strengthening of the business environment by:
1. Supporting regional sector and value chain development programmes - for firms to express their concerns about issues affecting business in their sub-sector and to steer systematic improvement to realise faster growth of the sub-sector.
2. Supporting Business retention and expansion programmes - to steer systematic improvement of their local business environment.
3. Facilitating dialogue with the public sector - towards more effective public investment, smarter service delivery, procurement efficacy and to stop doing what the private sector can do with greater efficacy.
4. Creating large-scale awareness of issues concerning business, which need to be rectified by the public sector or other responsible parties. Various platforms are utilised including events with key stakeholders, traditional media and social media.
The Province’s level of business dynamism depends largely on two main factors:
- a civil service capable of delivering a business-friendly enabling environment.
- a suitable entrepreneurial culture to act as fertile ground for business ideas.
The Chamber believes the Province’s overall business ecosystem has much room for improvement. However, the current impediments to business development require active public-private partnerships. Individual sectors need to identify sector-specific targets and business development priorities, such that the Chamber can champion these goals with the necessary authorities. Business start-up costs, company registration procedures, and insolvency recovery rates – are all factors that need monitoring and evaluation, for they have a material impact on business dynamism.
A dynamic environment breeds entrepreneurial spirit, and Cape Town has more than its share of success stories, the most notable being ‘Afronaut’ billionaire Mark Shuttleworth. Sector-specific incubator programmes abound, such as the V&A’s Food Incubator at Makers Landing. The Western Cape urgently needs more of these programmes, and government partners to champion them.
As a cultural melting pot, the Western Cape is well-positioned to profit from intersecting ideas, as evidenced in the Province’s vibrant creative sector. Technical colleges and other educational institutions are also vital cogs in the business development machinery.