"Not all doom and gloom"

What can be done?

Globally, Inflation is high and we can see this even in developed economies like the US. This means prices are high everywhere, and South Africa is not immune to this. Food prices are high, and generally the cost living is expensive at the current moment.

In addition to global factors like Ukraine conflict, oil price, and lockdown restrictions (that are still in place in China), South Africa is still struggling with its own challenges. Namely, load shedding, high petrol price, high unemployment, corruption, and the list goes on. Mentioning all the challenges that we are currently going through, one can easily get discouraged and think it is all gloomy for us as a Nation. Not all is lost, there are basic things that we can do as individuals, businesses, and society to better manage these trying times.

The big question is what do we do now, specifically as businesses?

Business plays a big role in the economic growth of any country, and South African businesses have a big contribution towards helping the situation that we found ourselves in. South African businesses must create jobs, and pay taxes, which will boost our economy.

According to the article published by Business Tech on 24 May 2022, Stats SA reported that the total number of liquidations in April decreased by 12,7% compared to a year ago. This is a positive indicator, and it implies that businesses are making money, and in turn employing more people. This is exactly what businesses need to continue doing now, and into the future.

We need more businesses to be created, and Government will have to create policies that allow for such an environment. We have an over supply of skills as a country, and I believe that businesses can greatly benefit from this challenge.

To take it a step further, what are we, as the InnoVent Group, doing right now?

Our purpose as a business is to help our clients increase their bottom line, by delivering cost savings and operating efficiencies. This is what we are doing, and we will continue doing that to help our clients, and in turn they get to invest their money in employing more people and creating more innovative ideas.

There has never been a time where our solution is as much needed as right now.

In conclusion, not all is lost, there are basic things that we can do as a society, even in the midst the challenges we found ourselves in. As Joshau J. Marine puts “Challenges are what make life interesting, and overcoming them is what makes life meaningful”.