LETTER: Where business can play a role
Start with greater tax incentives for businesses that hire and train school-leavers, and ensuring every employee in the private sector has the opportunity to be upskilled
President Cyril Ramaphosa and his cabinet have a small window in which to convert election promises into action focused on meaningful inclusive growth.
According to the International Monetary Fund, the biggest obstacle to sustained growth in SA is a structural problem stemming from a devastating lack of investment in human capital. This is an area in which businesses could make the greatest contribution to turning the economy around.
But government must meet business halfway. Greater tax incentives for businesses that hire and train school-leavers, and ensuring every employee in the private sector has the opportunity to be upskilled would be excellent starting points. Business can partner with government to share much-needed management and leadership skills, particularly in the education sector.
Business may have limited influence over the factors driving SA’s low growth rate in the next few years, but it does have direct influence over how it responds to these challenges.
How we choose to create value is entirely up to us.
CEO, IQbusiness, Joburg
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