Our South African clients are fighting off the effects of a major economic slowdown, affecting their pipelines and profitability. This has meant that decisions about new investments – such as using PayProp – have been coming under the spotlight.
Rather than wait for the market to engage us on pricing, the team put together a briefing session headlined ‘Dealing with a downturn’. More than 100 business owners from the Western Cape, which has been hit the hardest, attended the two-hour session.
CEO Louw Liebenberg says it was important to lead with solid facts about the downturn, as its effects are often exaggerated. Fortunately, PayProp’s wealth of market data enabled us to offer an educated assessment of the decline and its possible duration.
The rest of the presentation focused on the industry’s choices in riding it out. Categorised variously as ‘Sell your business’, ‘Cut back’, ‘Do nothing’, ‘Do something’ and ‘Buy other businesses’, the scenarios gave agents valuable practical choices during difficult times.