Tourism: While manufacturing should be export orientated due to the weak rand, entrepreneurs should take advantage of this in the tourism sector due to foreign tourists benefiting from the favourable exchange rate.

Business tourism is increasingly growing in attractiveness due to South Africa being recognised as the gateway to Africa, and due to the weak rand, savvy entrepreneurs can capitalise on the country being a fairly cheap destination to host international conferences, when compared to some of the more established / traditional conference destinations. In terms of vocation tourism, there is a growing opportunity to market the region as a destination and offer attractive all-inclusive deals with various airlines, hotel groups and different cities and resorts around South Africa, as well as the Southern African Development Community region.

Mining: While at a low base due to the labour disputes encountered over the last 18 months, the sector has recently experienced an increase in expenditure on capital programmes, especially in coal mines as older mines’ reserves are shrinking and coming increasingly under pressure to supply more coal to our mainly coal fired electricity generating power stations. This offers a myriad of opportunities for entrepreneurs in primary and secondary supply chains, such as shops and other infrastructure that is needed in the area where the mines are being developed and/or redeveloped.

Infrastructure at large: Government, at all levels, is investing in upgrading services and facilities and smaller contractors should seek ways to get involved in the various scheduled projects. Apart from low-cost housing, basic services, such as water, electricity, sewage plants, as well as repairs and upgrades to government buildings and recreation sites, are needed in cities and towns across the country.

It is reported that the country’s next big crisis is water and much is needed to not only conserve water, but also to upgrade the existing poor infrastructure, which is under severe pressure due to old pipes bursting underground.

Botes encourages entrepreneurs across the country to explore these opportunities. “Established entrepreneurs may be drawn to a new opportunity due to his or her very nature of continually seeking new opportunities, or a hunger to be the ‘first mover’. These shifts in the economy however also offer aspiring entrepreneurs an opportunity to enter the market by identifying these gaps and then capitalising on the idea.

“Those entrepreneurs that take initiative will not only create wealth for themselves, but they would also be investing in South Africa’s economic development and job creation,” concludes Botes.