2014 Shines Brightly
2014 promises to be a great year for early stage companies and entrepreneurs in Cape Town. In the light of the global promise of economic turnaround, the base that has been laid within the entrepreneurial eco-system is sure to start paying off as economic growth lifts its head.
Financial Management for Entrepreneurs
One of the biggest challenges for entrepreneurs will be managing their finances while dealing with a new or rapidly expanding business. There is a whole world within the financial function that includes the Companies Act, statutory compliance, taxation, accounting, financial decision-making and budgeting that the innovator, artist or entrepreneur running their own business do not have a good background in. It has been proven over and over again that sound financial management enables businesses to flourish, while the lack thereof is a major reason for failure.
As keen networker on the entrepreneurial scene, founder Louw Barnardt noticed one thing that most events of 50 to 100 business owners had in common – very few financial experts operate in this space. Highly qualified financial people like your MBAs and CA (SA)s are all swooped by big business that promise them big salaries. And big business caters to corporates only, leaving the SME market exposed with only a few highly qualified financial experts.
Outsource Financial Management for Entrepreneurs
Outsourced CFO is a company of Chartered Accountants that aims to fill this gap in assisting entrepreneurs in small and medium companies with their financial management. A CFO is assigned to each client, who helps them identify the business and financial risk and main priorities of their financial function. These are then systematically addressed, with the CFO sitting with the entrepreneurs personally. Services cover all aspects of financial management, from management accounts analysis and cash flow budgeting, to statutory compliance and taxation.
Finance Workshops for Entrepreneurs and Startups
Passionate about young companies and start-ups, we have also partnered with the Bandwidth Barn to host regular financial function workshops for start-up entrepreneurs. These sessions seek to educate the Cape Town entrepreneurial eco-system on the different aspects of financial management. Reaching out to various organisations that have a vested interest in young companies, we intend to make an impact in as broad a spectrum of early stage companies as possible.
The first topic covered was cash flow budgeting, forecasting and break-even analysis. It was also well attended by prominent banks and reputable financial institutions.
Financial Management Support for Entrepreneurs
For budding startups and new businesses, setting up your endeavour from scratch can be daunting. At Outsourced CFO we offer a host of services to make your life easier; freeing you up to focus on your business while we handle the red tape and paperwork. Give us a call on 082 552 6527 or email us firstname.lastname@example.org to find out which financial services package will suit your new business best.