Trust in business on the decline in SA - barometer

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Cape Town - Businesses are on the brink of distrust, with South Africa on a downward trend, according to a global survey.

The 2017 Edelman Trust Borometer was conducted online in 28 countries with over 33 000 respondents. In South Africa 1 150 respondents participated in the survey.

It pegged trust in business at 56% compared to 60% last year.

The overarching theme was how much people trust institutions to do what is right. South African responses showed:

- 15% had any faith in the government
- 39% trust in local media
- 58% trust in NGOs and
- 56% trust in businesses

The four questions that were asked in order to determine a country’s trust rating were:

1. Is there a sense of injustice stemming from the perception that society’s elites have co-opted the system to their own advantage at the expense of regular people?
2. Is there hope that the future will be better for you and your family?
3. Is there a lack of confidence in the leaders of societal institutions to solve the country’s problems?
4. Is there a desire for forceful reformers in positions of power that are capable of bringing about much-needed change?

The credibility of CEOs fell to 52%, taking a 16% knock in relation to last year. 

The insights also found that business plays a role in stoking societal fears. The global population worries about losing their jobs due to lack of training/skills, foreign competitors, immigrants who work for less, jobs moving to cheaper markets and automation.

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