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Laboratory Information Management System Market Pegged to Expand Robustly During 2024-2030

Laboratory Information Management System Industry Overview

The global laboratory information management system market size was valued at USD 2.3 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.48% from 2024 to 2030. 

Technological advancements pertinent to pharmaceutical laboratories and a rise in demand for lab automation are expected to fuel the demand for these systems in the coming years. Advancements in R&D labs, especially in pharmaceutical and biotechnological laboratories, are expected to enable positive industry growth.

Gather more insights about the market drivers, restrains and growth of the Laboratory Information Management System MarketIn addition, low cost of implementation, efficient time management, and compliance with GDP, GCP & GMP are other major factors driving Laboratory Information Management System (LIMS) industry growth.

Laboratory Information Management System Market Segmentation

Grand View Research has segmented the global laboratory information management system market report based on product, component, end-use, and region:

Product Outlook (Revenue, USD Million, 2018 - 2030)

On-premise

Web-hosted

Cloud-based

Component Outlook (Revenue, USD Million, 2018 - 2030)

Software

Services

End-use Outlook (Revenue, USD Million, 2018 - 2030)

Life Sciences

CROs

Petrochemical Refineries & Oil and Gas Industry

Chemical Industry

Food and Beverage & Agriculture Industries

Environmental Testing Laboratories

Other Industries (Forensics and Metal & Mining Laboratories)

Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Europe

Germany

UK

France

Italy

Spain

Sweden

Denmark

Norway

Asia Pacific

China

India

Japan

Australia

South Korea

Thailand

Latin America

Brazil

Mexico

Argentina

MEA

South Africa

Saudi Arabia

UAE

Kuwait

Browse through Grand View Research's Healthcare IT Industry Research Reports.

The global medical kiosk market size was valued at USD 1.42 billion in 2023 and is projected to grow at a CAGR of 15.1% from 2024 to 2030. 

The global physician advisory services market size was estimated at USD 4.25 billion in 2023 and is estimated to grow at a CAGR of 6.8% from 2024 to 2030.

Key Companies & Market Share Insights

The global LIMS industry remains highly competitive. Key companies are involved in acquisitions, strategic collaborations, and new product launches to withstand the competition. Companies are focusing on implementing strategies, such as new product launches, regional expansion, partnerships, and distribution agreements, to increase their revenue share.

In August 2023, Thermo Fisher Scientific, Inc. launched the EXENT solution, a fully integrated and automated mass to meet the unmet clinical needs for innovative mass spectrometry solutions to transform monoclonal gammopathy management.  

In December 2022, LabVantage Solutions, Inc. released Version 8.8 of its flagship LIMS platform, which features a multitude of upgrades across all components. These factors are expected to boost the growth of the market over the forecast period.

Key Laboratory Information Management System Companies:

Thermo Fisher Scientific Inc.

Siemens

LabVantage Solutions Inc.

LabWare

PerkinElmer Inc.

Abbott

Autoscribe Informatics

Illumina, Inc.

Labworks

LabLynx, Inc.

Computing Solutions, Inc.

CloudLIMS.com (LabSoft LIMS)

Ovation

LABTRACK

AssayNet Inc.

Order a free sample PDF of the Laboratory Information Management System Market Intelligence Study, published by Grand View Research.

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Think local and regional to sustain scaling South African enterprise growth - Journal Today Web https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197730&_unique_id=66e3866d4fd2d #GLOBAL - BLOGGER BLOGGER With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing

guarantees from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s … Read More

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Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - #GLOBAL https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197728&_unique_id=66e3866bb80be With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees from

home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg BLOGGER - #GLOBAL

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Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197726&_unique_id=66e386690e515 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees from

home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg #GLOBAL - BLOGGER With many SADC coun... BLOGGER - #GLOBAL

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Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197725&_unique_id=66e38667c741c With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees from

home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg BLOGGER - #GLOBAL With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s … Read More

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Think local and regional to sustain scaling South African enterprise growth - Journal Today Web https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197723&_unique_id=66e38664ea2c2 With many SADC coun... BLOGGER - #GLOBAL With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally,

securing guarantees from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg #GLOBAL - BLOGGER With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s

… Read More

[internetcompanynews]

Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197721&_unique_id=66e386627fb52 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees from

home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - #GLOBAL BLOGGER - #GLOBAL

[formidablecompanynews]

Think local and regional to sustain scaling South African enterprise growth - Journal Today Web https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197719&_unique_id=66e38544cd59a #GLOBAL - BLOGGER BLOGGER With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing

guarantees from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s … Read More

[smartcompanynewsweb]

Think local and regional to sustain scaling South African enterprise growth - Journal Today Web - #GLOBAL https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197717&_unique_id=66e3854271c89 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees from

home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg BLOGGER - #GLOBAL

[industrynewsupdates]

Laboratory Information Management System Market Size, Share, Growth And Analysis Report 2024-2030

The global laboratory information management system market size was valued at USD 2.3 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.48% from 2024 to 2030. 

Technological advancements pertinent to pharmaceutical laboratories and a rise in demand for lab automation are expected to fuel the demand for these systems in the coming years. Advancements in R&D labs, especially in pharmaceutical and biotechnological laboratories, are expected to enable positive industry growth.

Gather more insights about the market drivers, restrains and growth of the Laboratory Information Management System Market

In addition, low cost of implementation, efficient time management, and compliance with GDP, GCP & GMP are other major factors driving Laboratory Information Management System (LIMS) industry growth.

Laboratory Information Management System Market Segmentation

Grand View Research has segmented the global laboratory information management system market report based on product, component, end-use, and region:

Product Outlook (Revenue, USD Million, 2018 - 2030)

• On-premise

• Web-hosted

• Cloud-based

Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Services

End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Life Sciences

• CROs

• Petrochemical Refineries & Oil and Gas Industry

• Chemical Industry

• Food and Beverage & Agriculture Industries

• Environmental Testing Laboratories

• Other Industries (Forensics and Metal & Mining Laboratories)

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

• Europe

o Germany

o U.K.

o France

o Italy

o Spain

o Sweden

o Denmark

o Norway

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

o Thailand

• Latin America

o Brazil

o Mexico

o Argentina

• MEA

o South Africa

o Saudi Arabia

o UAE

o Kuwait

Browse through Grand View Research's Healthcare IT Industry Research Reports.

• The global medical kiosk market size was valued at USD 1.42 billion in 2023 and is projected to grow at a CAGR of 15.1% from 2024 to 2030. 

• The global physician advisory services market size was estimated at USD 4.25 billion in 2023 and is estimated to grow at a CAGR of 6.8% from 2024 to 2030.

Key Companies & Market Share Insights

The global LIMS industry remains highly competitive. Key companies are involved in acquisitions, strategic collaborations, and new product launches to withstand the competition. Companies are focusing on implementing strategies, such as new product launches, regional expansion, partnerships, and distribution agreements, to increase their revenue share.

• In August 2023, Thermo Fisher Scientific, Inc. launched the EXENT solution, a fully integrated and automated mass to meet the unmet clinical needs for innovative mass spectrometry solutions to transform monoclonal gammopathy management.  

• In December 2022, LabVantage Solutions, Inc. released Version 8.8 of its flagship LIMS platform, which features a multitude of upgrades across all components. These factors are expected to boost the growth of the market over the forecast period.

Key Laboratory Information Management System Companies:

• Thermo Fisher Scientific Inc.

• Siemens

• LabVantage Solutions Inc.

• LabWare

• PerkinElmer Inc.

• Abbott

• Autoscribe Informatics

• Illumina, Inc.

• Labworks

• LabLynx, Inc.

• Computing Solutions, Inc.

• CloudLIMS.com (LabSoft LIMS)

• Ovation

• LABTRACK

• AssayNet Inc.

Order a free sample PDF of the Laboratory Information Management System Market Intelligence Study, published by Grand View Research.

[companyknowledgenews]

Think local and regional to sustain scaling South African enterprise growth - Notice Important Web https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197722&_unique_id=66e38663b7c90 #GLOBAL - BLOGGER BLOGGER With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing

guarantees from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s … Read More

[bravecompanynews]

Think local and regional to sustain scaling South African enterprise growth - Notice Important Web - #GLOBAL https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197720&_unique_id=66e386603b456 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees

from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg BLOGGER - #GLOBAL

[boldcompanynews]

Think local and regional to sustain scaling South African enterprise growth - Notice Important Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197718&_unique_id=66e38543ab842 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees

from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg #GLOBAL - BLOGGER With many SADC coun... BLOGGER - #GLOBAL

[technologycompanynews]

Think local and regional to sustain scaling South African enterprise growth - Notice Important Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197716&_unique_id=66e3854159d78 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees

from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg BLOGGER - #GLOBAL With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s … Read More

[onlinecompanynews]

Think local and regional to sustain scaling South African enterprise growth - Notice Important Web https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197713&_unique_id=66e3853f4bceb With many SADC coun... BLOGGER - #GLOBAL With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally,

securing guarantees from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg #GLOBAL - BLOGGER With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally South Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s

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Think local and regional to sustain scaling South African enterprise growth - Notice Important Web - BLOGGER https://www.merchant-business.com/think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/?feed_id=197710&_unique_id=66e3853d7eb00 With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionallySouth Africa’s economy grew at a modest annual average rate of 0.3% to 2% from 2021 to 2023. In contrast, the Southern African Development Community’s (SADC’s) economy expanded at a faster pace, with average growth rates ranging from 2.5% to 4%, according to the World Bank, International Monetary Fund (IMF), and United Nations. Leading SADC economies included Botswana, Mozambique, Zambia and Tanzania, experienced more robust growth, ranging between 3.5% and 6%. Other countries worth noting included Angola (which grew by between 3% and 4%), and Malawi (about 4% annually). Given these figures, a regional approach offers greater growth potential for South African businesses, particularly small and medium-sized enterprises (SMEs) looking to scale in the next three to five years. As the South African domestic market remains highly competitive and dominated by larger, more established enterprises, the SADC region presents untapped opportunities for expanding businesses to grow sustainably.Digital Products Why a regional focus is keyIn South Africa’s mature and predominantly oligopolistic market, competition for limited resources will be fierce, with procuring teams typically awarding opportunities to larger and more established organisations. For smaller enterprises, this creates a tough environment where the odds of breaking through are slim. The larger players are often seen as “safe bets” for procurement, suggesting smaller companies will need to go the extra mile to prove themselves and avoid costly mistakes to stand a chance over the longer-term. Given this context, many SMEs face significant barriers to growth domestically. In contrast, the SADC region offers a more favourable landscape for expansion. But this comes with problems, including differing regulations, business environments and socio-cultural dynamics. Setting up in a new country involves significant costs, and mistakes in regional expansion can jeopardise not only the venture abroad but the company’s operations in its home market as well. For this reason, collaboration with local partners in target markets is crucial.Partnering with a local enterprise can provide a South African business with vital knowledge, networks and trust within the host market. By teaming up with a host nation local partner, a South African SME signals its long-term commitment to the region and creates mutually beneficial relationships that support both businesses’ success. But partnerships should be approached with care and thorough due diligence. Assessing the prospective partner’s track record and gathering referrals from trusted sources can mitigate such risks. It is also essential to carry out commercial, legal, and financial checks to ensure a sound foundation for collaboration.Financing regional expansion is another critical challenge. While SADC has yet to establish itself as a cohesive trading bloc, making regional funding options limited, donor agencies currently fill part of the financing gap. But donor funding is finite and cannot support widespread growth. The SMEs seeking to scale up must look to development financiers, despite most of these institutions preferring to usually lend to larger, established companies with proven financial stability. For smaller businesses, gaining access to capital for regional expansion requires presenting a compelling case for commercial viability. Companies must demonstrate solid revenues, profitability and the ability to repay loans. Additionally, securing guarantees

from home markets can be complex, leading some businesses to seek funding within each country they plan to expand into. As a result, local partnerships will again be beneficial here due to them providing some of the local credibility needed to secure financing from host country banks or co-financing arrangements between regional and South African lenders.When expanding regionally, SMEs should focus on their core strengths and adjust only where necessary. Trying to diversify too much in unfamiliar markets can lead to failure. Instead, businesses should leverage their existing success while tailoring their approach to local market nuances. For example, a refrigerator manufacturer looking to expand into a regional market where most consumers are weekly wage earners might adjust their product mix to offer more units at affordable price points for these consumers. This adjustment ensures the company stays true to its core business model while catering to local market conditions.Digital Products Sectors with regional growth potentialGiven the SADC’s diverse economic landscape, several sectors offer significant growth opportunities for South Africa’s scaling businesses. These include:Agriculture and agro-processing: SADC countries are heavily reliant on agriculture, and there is significant potential to introduce and progress modern farming techniques, equipment, and agro-processing capabilities. South Africa’s established agribusiness expertise can be leveraged to build scalable ventures across the region, where food security and value-addition are priority areas.Renewable energy: With many SADC countries facing energy shortages, the renewable energy sector provides the needed recourse. Scaling South African businesses can, therefore, provide solar, wind, and other renewable energy solutions regionally, benefiting from lower production and import costs and favourable regulatory frameworks across some SADC countries.Light manufacturing and distribution: Manufacturing capabilities in South Africa can be used to produce goods that can be distributed across the region. By setting up local distribution hubs and manufacturing centres in neighbouring countries, companies can cut costs and serve regional markets more efficiently.Retail and digital services: As mobile and internet penetration rises across the SADC, digital services, particularly fintech, e-commerce and logistics present significant opportunities. South African companies can offer scalable digital platforms that cater to regional consumers and businesses, expanding their reach beyond the local market.Based on the above, focusing on regional opportunities in the SADC presents a viable pathway for scaling South African SMEs facing a depressed local economy. Key to success will be strategic partnerships, securing adequate funding and remaining committed to core strengths while adapting to local market demands. As SMEs navigate these opportunities, learning from larger enterprises and following a carefully planned regional strategy will ensure sustained, long-term success.James Maposa is the managing director at Birguid.“The SADC offers potential for growth across various sectors by leveraging South Africa’s strengths in agriculture, energy, manufacturing and digital services…”Source Link: https://mg.co.za/thought-leader/2024-09-10-think-local-and-regional-to-sustain-scaling-south-african-enterprise-growth/ http://109.70.148.72/~merchant29/6network/wp-content/uploads/2024/09/stock-photo-think-global-act-local-symbol-torn-orange-paper-with-words-think-global-act-local-beauti.jpeg Think local and regional to sustain scaling South African enterprise growth - Notice Important Web - #GLOBAL BLOGGER - #GLOBAL