Businesses prove resilient in tough times
Thursday, April 13, 2017
De Kok
These conditions are usually related to the slow economic growth as well as the tough regulatory environment.
In a tough economic climate, the reality of budget cuts, job insecurity and diminished employment rights usually comes to play with some companies succumbing to the pressures and ending up retrenching or closing shop.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...