South Africa is a vibrant emerging market and has a well developed economic infrastructure to support any foreign business thinking of setting up shop there.
The current government came to power in 1994 and has made huge strides in turning South Africa into a major contributor in international markets. With abundant natural resources, good infrastructure, excellent banking system and sound tax structure, many companies think quite favorably of South Africa. With its business culture quite similar to that of UK and most of European countries, many see this country as a great gateway to other African markets.
Over years of progress, South Africa has managed to evolved a fairly stable political climate and a stock exchange that is ranked amongst the top 20 in the world.
In comparison to other BRIC nations, South Africa is spending more on education and hoping to bring its educational standards on par with the world. Its labor costs are low and this makes South Africa much more attractive to investors and foreign businesses than other emerging markets. The UK Trade and Investment has ranked South Africa as a high-growth market.
If you are thinking of expanding your business overseas, South Africa might be an excellent country for your consideration.
For more information regarding setting up business and registering your company there please read Healy Consultants Group PLC’ excellent guide here: https://www.healyconsultants.com/south-africa-company-registration/