Spur Corporation, which employs more than 31 500 people in its restaurant franchise network, said yesterday that while there would likely be increased consumer confidence and spending this year, longer term economic growth is only possible through increased job creation.
Group CEO Val Nichas said at the release of their results for the year to June 30 that the groups trading outlook was likely to remain subdued in the short term, even though South Africas economic growth was forecast to expand.
The outlook for improved consumer confidence and spending is positive following the national elections in May, and the transition to the new government. The stable electricity supply, lower inflation, the new two-pot retirement system and expected interest rate relief are all likely to support increased consumer spending, she said.
However, Nichas cautioned that economic growth and prosperity would only be possible through sustained job creation.
Spur Corporation is committed to supporting the Government of National Unity (GNU) by creating employment opportunities Our restaurant industry offers access to the workplace for young individuals through entry-level roles, franchisees offer good employment prospects, while the franchise model creates opportunities for aspirant business owners, she said.
