Covid 19 was the world’s first international pandemic since the Spanish Flu at the turn of the last century. It changed the way we socialised, the way we bought goods, and the way we did business. While things are finally getting back to what we once called normal, there are a number of ways in which the world of business has been permanently transformed.
One of these changes is that we have finally recognised that we can work from anywhere in the world – thanks to advances in technology. Lanham Love Consulting, a Level 2, 73.57% black owned consultancy that assists companies in developing an effective consulting strategy for maximum B-BBEE benefit, believes that this means that right now is the time for South Africa to take the leap – and compete on the global stage.
“Previous barriers to entry into international markets, such as a lack of immediate communication, language barriers, or even a lack of understanding of the market are simply not there anymore,” says Angie Lanham-Love, CEO of Lanham Love Consulting,. “With advances like translation services and the ability to research your target market from behind a computer screen, there is no reason why we should not be doing business on a global scale.”
But South Africa is not nearly as competitive on the global map as we should be: we currently rank 60 out of 64 countries in the World Competitiveness Yearbook. While this is a slight improvement on last year’s ranking, there is a lot more than can be done to move us from struggling economy to world player.
“Our position as a vibrant emerging market means that there are lot of multinational companies who would love to get their proverbial foot in the door into South Africa,” says Lanham-Love. “Encouraging international businesses to not just do business with us, but to do it here, is an excellent way to put South Africa on the global map. And encouraging international businesses to do business with you is becoming more dependent on you having a workforce that reflects the South African demographic.”
“South Africans are, by far, our country’s greatest asset. If you have a diverse workforce, you can absolutely use that diversity to your advantage when it comes to working with international clients,” says Lanham-Love. “Having staff that understands the needs of the South African market, because they are that market, means that your international clients will want to use you over a competitor as you will be more effective in terms of implementation.”
“This is yet another reason why Lanham Love Consulting, believes in Broad-Based Black Economic Empowerment – if it is implemented correctly,” says Lanham-Love. “Your transformation strategy needs to lead to business growth and having a diverse workforce can have a direct impact on your efficacy when it comes to doing business internationally.”
If you want to put your business on the global map and see the value in innovatively embracing and integrating transformation to the point of business growth and development, speak to Lanham Love Consulting. Our years of expertise make us perfectly positioned to ensure comprehensive B-BBEE compliance, so that you can focus on doing what your business does best.