Business and Africa are not always two words you hear in the same sentence. However, with globalization being such a huge component of today’s business, it is important for companies to always be on the lookout for new places to expand. More and more things are being exported and imported these days. It appears nearly impossible to do business without crossing a border into another country. One country that has recently come onto the international business radar is South Africa.
With a rapidly growing population and a rising middle class, South Africans are seeking out many of the same products and brands that other developed nations have become accustomed to. This means there is an opportunity for businesses to enter and prosper in this expanding market.
Europe has already begun to be a part of South African business. The European Commission and the United Kingdom's Department for International Development have decided to assist the country with a program designed to create jobs and stimulate economic growth. The goal is to improve people’s lives and encourage growth.
Since South Africa is a developing country, many citizens are eager to learn about new products and are willing to buy different things in order to improve their lifestyle. Doing business in South Africa also opens doors to many neighboring African countries. There is a huge market that has not really been discovered yet, but these markets have amazing possibilities.
In addition, English happens to be one of South Africa’s national languages, and is their primary language used for business. Since English is one of the most widely spoken languages globally, it is easier for the rest of the world to reach out and expand their businesses. The business cycle in South Africa may not be quite as fast paced as in other areas of the world, but it is still very efficient. And while it may not be as developed as other areas, South Africa still offers a lot of potential for international business. For example, South Africa will be hosting the 2010 FIFA Soccer World Cup, a major worldwide event. This will bring lots of attention, not to mention tourists to this area. The country is investing over $60 billion in this event in hopes of gaining respect as a country. The world cup attracts people from all over the world, and soon, South African business will do the same.