Access to markets
Black businesses have organised themselves and are ready for opportunities but often they don ’ t get invited to the table in the form of private sector bids , or the bids are exclusionary in design . There is a need for black businesses to be given fair opportunities to pitch for the work – this a major challenge for black practitioners in the property game .
While corporate relationships exist , once practitioners go out on their own , opportunities dry up because they may not have the extensive company experience and backing of a large company profile . In general , people work with those who they have relationships with , and breaking into the circle is challenging . The industry needs to be encouraged to be more inclusive . Legislation exists at supplier and procurement level , yet individuals and companies find ways around this .
People will argue that it is about mitigating financial and performance risk of working with new entrants , however the way to deal with this is to enforce mandatory SMME participation on bids in terms of scope delivery and financial participation . Lead firms need to ensure delivery
“ There is a need for financial institutions to grant access while at the same time , do some hand holding , big sister-style arrangements .” accountability as part of promoting making the industry more diverse and inclusive . The pool of capable black people with skills exists – the market needs to acknowledge that and get comfortable with allowing them to participate .
Access to land
There is also a need for black property practitioners to participate in the ownership part of the property value chain . They have done the hard yards in the property services businesses and need a graduation
SA Real Estate Investor Magazine DECEMBER 2022 / JANUARY 2023 73