Cape Town CBD: A Thriving Hub for SME's, Promoting Entrepreneurial Spirit
Cape Town's CBD is an attractive, vibrant and multi-use district, and its commercial property market in has proven its resilience, largely withstanding the pressures of the pandemic and its strain on the general property market over the last 12 months. Business Live recently reported that this property sector will remain tenacious as it has shown to have adjusted well to the punishing economic effects brought on by Covid-19 last year.
This is good news for the growing SME environment in the Mother City - and the encouraging surge in small business development in the country - as business owners are increasingly in search of more agile, work-life hybrid spaces in which to work, live and play.
The Cape Town Central City Improvement District (CCID) continues to be one of the province's popular multi-use areas. The CCID's recent Come Back to Town campaign encouraged the people of Cape Town to return to the CBD to support local businesses. It also collaborated with corporates and provincial government to support office workers returning to their CBD workplaces.
The district arranged a line-up of buskers from all walks of life, as well as other arts and entertainment partners, to offer pop-up performances in the central part of the city, aiming to reinvigorate the economy of downtown Cape Town. The campaign managed to reach 1.1 million people on social media, gaining buy-in from local stakeholders and SMEs to promote the city centre's unique offerings.
The Cape Town CBD is one of the most successful city centres in the country and is home to some of the finest, award-winning restaurants, unique retail venues, rooftop cocktail bars and one-of-a-kind destinations. It is also very popular among the emerging SME market and aims to provide unlimited opportunities to these growing enterprises.
The Cape Town City Bowl boasts a vigorous and energetic small business assembly, alongside the multitude of established and emersed large corporates, which has a multiplying effect on the rest of the city, outlying residential areas and wider metropole. The city plays a major role in preserving the nation's economic health, and is therefore a huge priority for local governments and property owners. Considerable provincial governmental effort and resources afforded to the ongoing improvement and development of the CBD will continue to ensure the City Bowl is an attractive, pleasant and convenient place to live, work and play. This long-term business incubation hub plan for the Cape Town CBD has seen large corporates like FNB investing in the start-up funding, informal trader areas have been demarcated, and ample entrepreneurial networking events and exhibitions are available in the City of Cape Town.
The Cape Town CBD an ideal long-term investment opportunity for small and medium size business owners to establish their enterprises, amongst a healthy culture of supporting young entrepreneurs.
OfficePlace Cape Town has a large variety of listings in the CBD area, and the best property experts to find the best solution for your business or investment portfolio.
Get in touch by contacting one of our OfficePlace brokers and see what's on offer.