The fact is simple: if you live in South Africa and have ambitions to start a business, Cape Town is the place to be!
The World Bank recently announced that when compared with all major metros in Southern Africa, Cape Town was ranked the number one for ease of doing business. Thus, if the ease of doing business is present, the Mother City becomes the ideal location to start a business. Ask yourself: why start a business in a city that does not run as efficiently in terms of servicing the people?
So how did the World Bank come to this conclusion?
The World Bank reports that a clear strategy to improve on the indicators they were measuring was set and a checklist was developed that comprised of things they knew investors, both local and international, look at when deciding where to invest.
All major South African Metros were assessed and Cape Town proved to come out on top when comparisons were made with things such as connecting a customer to electricity or new business construction permits, both of which take less time in Cape Town than they do in Johannesburg.
Not yet convinced?
Globally, Cape Town ranks among the world’s top destinations to visit (a thriving tourist economy is also great for business!) and includes many attributes that appeal to those looking for a city to plant their roots, work and invest. Additionally, Cape Town’s skills market is consistently on the rise, another bonus when starting your own business, as there is no lack of talented individuals to assist in your business journey.
As one last effort to convince you (you probably don’t need it, we know!), Invest Cape Town reports the following reasons to choose Cape Town for business:
- Economic landscape
- Digital connectivity
- Start-Up capital of Africa
- Top companies have invested in Cape Town
- Access to talent & skills
- Good governance
- Cost effectiveness
- Ease of doing business
- Accessibility & market acces
Do you have anything to add to the list? We’d love to hear from you!