South Africa is a country with a diverse economy, so there are many types of businesses in demand. Therefore, it is important to understand the market and what business you want to be in. This will help you decide whether it’s worth investing your time and money into the business venture. In South Africa, there are over 20 million small-medium enterprises (SMEs) that account for over 80 per cent of the country’s employment.
Food services
The food industry in South Africa has seen significant growth in recent years. This has been attributed to the growing population, changing demographic trends and increased global trade.
South African businesses are looking for innovative ideas that will help them stay competitive with other international companies. They are also looking for new opportunities to enter new markets, which can be challenging and expensive without proper support from a local business advisor or market research company.
We expect the food industry to continue its growth in South Africa over the next few years due to increasing demand for quality products at affordable prices
Crafts and home decor
The demand for handmade crafts and home decor is high, with the industry expected to grow by 8% per year. The market is largely driven by a growing middle class, as well as a rising disposable income, which has resulted in an increased demand for luxury goods.
South Africa’s craft sector is worth over R2 billion (almost $200 million) and has seen a significant increase in both exports and imports since 2009. The industry employs over 12 000 people nationwide, with many of them working at small-scale factories that produce locally made products such as jewellery, pottery, textiles and furniture.
