Scenario guru Clem Sunter, who presented at a FASA breakfast held recently gave his take on the turmoil that the world seems to find itself in. Where before he would outline the importance of taking either the ‘high’ road or the ‘low’ road, these days he sees South Africa either having all its ducks in a row; none of the ducks in a row or plunging into a failed state.
With hard times predicted for the next five years in what Sunter calls the threat of ‘forked lightning’, all eyes should be on China who, if they don’t suffer a potential property bubble, could be leading the economic recovery and be the next powerhouse. Emerging markets seem to be faring far better than established markets with seven out of ten of the fastest-growing economies in the world in Africa (not as one would think in Asia, Europe or Latin-America). Sunter warns, however, that South Africa needs to tread carefully with its political, social and economic strategies to ensure that it takes up one of those leading slots.
As a strong proponent of entrepreneurship and a great supporter of franchising, Clem Sunter believes that focusing solely on job creation without looking to the entrepreneurs who can create the businesses that will create those jobs was a mistake on the part of government. “The only way to turn our exclusive economy into an inclusive economy, in which citizens broadly participate, is to precipitate an entrepreneurial revolution. This means putting a huge focus on our informal sector and creating conditions that will be conducive to allowing the small businesses that inhabit this sector to graduate into the formal sector. There has to be a bridge. As Steve Biko said, “For society to be stable people have to do it for themselves.” That’s entrepreneurship. It’s not a subsidiary issue. It is the issue.” Visit www.clemsunter.co.za.