JSE-listed business advisory services group IQuad saw a surge in incentive pay-outs from the Department of Trade and Industry (DTI) as the recession wreaked havoc on the South African economy, says CEO David Edwards.

“The DTI has definitely accelerated payouts from their incentive schemes in reaction to the recession. They came to us and urged us to see how we could make the process go faster. They also relaxed the rules of some incentive schemes so companies could get their hands on the money sooner.

“Without doubt, government incentives helped save companies hurt by the recession,” says Edwards.

Listed on the AltX, IQuad offers services in four areas, namely investment incentives, where the company assists customers in accessing investment incentives, especially in the automotive sector; global trade services, which includes support to exporters and importers; business development, such as IT assistance; and verification services, such as empowerment compliance.

Edwards says IQuad is looking to add a fifth pillar to its business, most likely through an acquisition.

This fifth pillar will be linked to business sustainability, such as environmental compliance.

Edwards says IQuad does not want to pay more than R50-million for any new addition to the company stable.

He adds that the group has ambitions to expand aggressively beyond its current market capitalisation of R80-million.

Part of this expansion strategy has been for Edwards to relocate to Gauteng, moving from Port Elizabeth where the company is based.

To subscribe to Engineering News's print magazine email subscriptions@creamermedia.co.za or buy now.