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Opportunities for entrepreneurs

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The economy may seem as if it’s in the doldrums, but there are also many opportunities for entrepreneurs to grab.

Christo Botes, spokesman for the 2015 Sanlam Business Partners Entrepreneur of the Year competition, said some of the challenges South Africa faces, such as the weakened rand and poor infrastructure, have provided opportunities for entrepreneurs.

“While water and power short-ages are serious problems they also provide market opportunities.

“Entrepreneurs don’t fit into neat categories. They are quick and adaptable decision makers.

“They have the ability to capitalise on new opportunities and market gaps or turn a bad situation into an income,” he said.

Botes said opportunities for entrepreneurs are available in the following sectors:

)  Education: More education franchises are being established, especially Technical and Vocational Education and Training (TVET) colleges – formerly known as Further Education and Training or FET colleges – due to the demand for such facilities and skills in the country.

)   Manufacturing: Government offers incentives, such as rebates and tax deductions, for component manufacturing, as well as developing overseas markets for such products.

)   Tourism: While manufacturing should be export-orientated to benefit from the weak rand’s exchange rate, tourism business owners should take advantage of this as foreign tourists are looking for great holidays that cost less money.

)  Mining: While the mining industry is at a low regarding output and investment, the need for coal has increased due to power shortages. This offers opportunities for entrepreneurs in primary and secondary supply chains.

)  Infrastructure: Government is interested in upgrading services and facilities so smaller contractors could look to see how they get involved. These include low-cost housing and other basic services such as water, electricity and sewage, repairs and upgrades to government buildings and recreation sites across the country.

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