The majority of privately held businesses in South Africa are optimistic about 2008, according to Grant Thornton’s 2008 International Business Report (IBR).
More than 75% of business reported an optimistic outlook for 2008, placing South Africa as the ninth most optimistic country of the 34 surveyed. Now in its sixth year, the IBR survey researches the opinions and expectations of privately-held businesses in 34 countries.
Despite the level of optimism, this is the third year that South African businesses have reported a drop in optimism levels. This year’s drop is only one percentage point down from last year. However South Africa remains more optimistic than the global average of +42% (+45% in 2007).
Within South Africa the most optimistic province is Gauteng at +85% and the least optimistic province is the Western Cape (+67%).
National Chairman of Grant Thornton Leonard Brehm says, “It is encouraging that optimism levels remain high, when you take into consideration that some key business indicators such as turnover, profitability, employment, exports and investment in plant and machinery have dropped significantly, some by up to ten percentage points.”
The only other sub-Saharan country to participate in IBR 2008 is Botswana. The country’s business optimism has increased from +41% in 2007 to +66 in 2008, ranking Botswana as the fourteenth most optimistic country in the survey.
Sharing the top ranking at +95% are the Philippines and India while Japanese businesses are the least optimistic with an optimism level of –44%.
High income countries showed relatively low optimism levels with French optimism sitting at +36%, the United States at +22% and the United Kingdom at +14%.
For more information visit Grant Thornton South Africa.
Steuart has done some 500 talks on South Africa's progress since 1994 and SA's prospects for the future' 
