Angelo Kehayas, President of the Institute of Management Consultants of Southern Africa (IMCSA) reckons that “some 60.000 consultants are offering their services in South Africa”. He estimates a growth rate of around 10% p.a. in areas such as coaching, mentoring, programme and change management, skills development and IT in South Africa. Furthermore, Angelo believes that there is a national shortage of high-end skills in technical disciplines. IMCSA consists of individuals, internal consultants, sole practitioners and corporate members. Membership is voluntary, as the profession is not regulated in South Africa.

THE FINANCIAL SERVICES SECTOR

Ernst & Young South Africa publishes a Financial Services Index
on a quarterly basis. All major retail banks, merchant & investment banks, investment managers and life insurers operating in South Africa participate in the survey. The survey results reveal current and expected changes in income, expenses and profitability.

The latest survey results (end 1st quarter 2007) reveal that banks and investment managers continue to remain satisfied with business conditions, albeit lower growth in income flows. The life insurance industry confidence took a knock during the first quarter of 2007, on the back of contracting profit growth, and despite a strong revival in premium income and stronger new business prospects. The publication can be downloaded here.

THE ENTREPRENEURIAL SECTOR

The high expectations of what the Entrepreneurial Sector should be able to deliver have led to a huge demand for skills development and consulting services. As a result, an overwhelming number of governmental and private support services are offered to Young Adults and Entrepreneurs. Unfortunately, the quality of these business support services still varies greatly in South Africa and the landscape that has evolved is confusing.

The Centre for Innovation and Entrepreneurship at the Graduate School of Business of UCT is a participant in the International Global Entrepreneurship Monitor (GEM) Project. In this context, it publishes a survey of South African Entrepreneurship on a yearly basis.

According to the latest survey (2006)

• South Africa performs below average as compared with other    developing countries when it comes to Entrepreneurial activity.
• Fewer businesses are liquidated and more people seem to be    graduating from the start-up phase to the next phase of operation.
• There is a perception that the Entrepreneurial culture in South Africa    is improving.

To download the complete report