Monday, November 19, 2018

New research reveals what keeps South African ICT executives up at night

While 77% of South African ICT executives are concerned about the economy, the majority still anticipate growth for ICT companies.

This is according to BMIT’s 2018 Digital Enterprise Survey which surveyed 525 ICT industry and market executives in partnership with MyBroadband and BusinessTech.

The survey was launched at a point in the year when economic opinion was revising GDP growth forecasts down to below 1% for 2018.

It is therefore not surprising that 77% of ICT industry executives confessed that they were seriously concerned about the state of the economy.

The other two chief areas of concern were inflation (66%) and political uncertainty in South Africa (59%).

Lesser concerns for ICT industry executives were crime (38%), the impact of potential international trade wars (27%), and drought and climate change (10%).

Despite this, two-thirds (66%) of ICT executives are optimistic about the future of their businesses, and 50% claimed to be more optimistic than they were a year ago.

“It is encouraging to discover that 60% of ICT executives anticipated that ICT budgets would increase in the coming year,” said Ryan Smit, Managing Director of BMIT and the author of the report.

Smit added that 42% of respondents stated their businesses were in a better financial state than a year ago, and 52% reported an improved sales pipeline.

Many ICT executives were ambivalent about the future of their businesses, with only 13% confessing to being truly negative about the future.

However, 31% admitted that they were more negative than they had been 12 months ago.

“29% disclosed that their businesses were in a worse state than a year ago, while 23% foresee 2019 being a worse year than 2018,” Smit said.

“While about 3 out of 10 ICT companies feel negatively about the current state of their businesses, most companies (60%) feel that 2019 is going to be better year than 2018.”

For more information on the report, visit: BMIT’s 2018 Digital Enterprise Survey

Now read: The most-watched TV shows in South Africa

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