QUARTERLY ECONOMIC AND BUSINESS REPORT- PIETERMARITZBURG and UMGUNGUNDLOVU DISTRICT

There was (and still is) a lot of speculation about the current performance and structure of the Pietermaritzburg and uMgungundlovu District economy and business environment. The debate is mainly driven by haphazard observations and subjective feelings, thus hampering effective and efficient decision-making and the allocation of scare resources. The need for relevant data prompted the School of Business (University of KwaZulu-Natal, Pietermaritzburg) and the Pietermaritzburg Chamber of Business to undertake a joint venture to develop and publish a quarterly economic and business report. Support for this project has increased substantially since its initial inception, with the local council (Msunduzi TLC), the uMgungundlovu District Municipality and the Provincial Ministry of Economic Development and Tourism now lending their support to the project. Local businesses are also starting to show signs of interest. It is also interesting to note that businesses as far as Cape Town and Johannesburg have indicated their interest in the data. The key aim of this project is to gain a better understanding of the economic and business environment of Pietermaritzburg and the uMgungundlovu District. It is foreseen and hoped that this report will contribute to the sustainable growth and development of the Pietermaritzburg and the uMgungundlovu economies, via an improved allocation of resources, increased efficiencies, an inflow of investments, more informed production decisions and better long-term planning. If successful, this project can be used as a blueprint for other local authorities and chambers of commerce/business. It is, thus, not a project that will only benefit Pietermaritzburg and the uMgungundlovu District, but also has the potential to be of benefit to all other local business communities and municipalities in SA. It can also have a spill over effect to the province and to the national economy.