RUNNING A PROFITABLE BUSINESS IN RSA, CONTD.
There is a great concern though from the business sector that the levels of fraud and corruption both at government and also at private corporations level has been on a steady increase in the past 5 years or so. Unless this concern is addressed well the country risks losing credibility and investor confidence. All the necessary ‘infrastructure ‘ to resolve fraud and corruption has been in place from time immemorial. What is needed is the political will to implement this ‘infrastructure’ to rescue this great country.
Starting a multi-million rand business in any country is a very interesting matter as the investor concerned needs to have a firm understanding of the basics and the dynamics that are applicable and are at play in that environment failing which one risks losing one’s investment. A popular proverb from stone age states that … “when in Rome, do as Romans do…” This proverb simply means that when you are in a different environment than yours, it is advisable to follow the culture of the place where you are so that your life might be easier…This proverb is relevant in business. The article examines some of these most important basics and dynamics that one must look at, and how should a potential investor deal with these matters in order to have a healthy business relationship moving forward.
For the sake of expediency and clarity, the article made use of a Mining Company as a “Multimillion Rand Business”. It must be emphasized though that the basic principles that are used in this article are equally applicable to any other sector or field, of course with necessary changes.