South African businesses are confident about their own prospects, but they are worried about the country’s economy. That’s one of the key insights to emerge from the Sage Business Index for 2013, an annual survey of more than 11,500 SMEs around the world. More than 1200 South African SME’s also participated in this survey.

Business partners , media and Sage staff joined us on 18 October at our Woodmead offices to hear the local results of this annual survey. In addition to presentations from Sage’s Ivan Epstein and Rob Wilkie, Alec Hogg presented a very encouraging view of South Africa’s economic future. Pavlo Phitidis also led a fascinating panel discussion about the future of small business in South Africa.

Delegates heard that global scores this year were the highest since the Business Index began in February 2011, suggesting that business confidence is returning worldwide in the wake of the global economic crisis. But South African companies, on the whole, were concerned about conditions in their own country.

Some 23% of South African businesses say their biggest challenge is the preponderance of bureaucracy and business legislation. And 15% name the government’s handling of current economic challenges as an obstacle.

Close to half (48%) argue that skills development and education is one of the most important things the government could do to boost confidence, followed by bringing stability to exchange rates (47%) and reducing bureaucracy and business legislation (42%).

For more findings from the Sage Business Index look out for future posts or visit businessindex.sage.com