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Here’s how South African businesses can prepare for 2019

Here’s how South African businesses can prepare for 2019

The sobering news delivered by our new finance minister in the mid-term budget should give business and property owners pause for thought as they face a bumpy last quarter and prepare for an uncertain 2019.

Gary Palmer, CEO of Paragon Lending Solutions, looks at seven ways business owners can maintain financial fitness and remain attractive to financiers, despite the gloomy outlook.

The mid-term budget saw Treasury more than halve its economic growth forecast for 2018 to just 0.7% after the local economy dipped into a recession in the first half of the year.

The GDP hasn’t expanded at more than 2% annually since 2013 and the official unemployment rate sits at 27%, although reality suggests a much higher figure.

Many businesses are looking to shore up their operations and weather the storm. But, despite the weak fiscal outlook, there are always opportunities in adversity. Staying financially fit means smart leaders can still be in a position to access finance to take advantage of deals that may come their way.