On Wednesday 10 June, 13 SMMEs graduated from one of many SAICA Enterprise Development’s Enterprise Development Programmes, that of the 2019 ED Flagship Programme. SAICA Enterprise Development (SAICA ED) ran with it’s very first virtual graduation via Microsoft Teams. Definitely a different spin on what would usually be a festive and large gathered celebration; but none-the-less a celebration under current lockdown realties, to highlight the achievements of the SMMEs and their successful completion of the 12-month programme.
Jameel Khan, current Head of Projects at SAICA ED comments, “In light of COVID-19 and the compliance rules attached to accessing relief funds, SMMEs are seeing the importance of SAICA ED service offering and the role they play in ensuring that SMMEs remain compliant and financially excellent.”
With the current COVID-19 pandemic, this is the time to be making a stand to support Small Businesses in South Africa. According to SA’s #CombatCovid SMME survey on www.smesouthafrica.co.za, 68% of relief funding applications have been unsuccessful, majorly due to lack of compliance. Thus we need to be doing all we can to ensure SMMEs are financially healthy and in good shape with their compliancy measures.
“I am so proud of the SMME’s who have taken part in this journey and the growth that has taken place. Financial Excellence is about breaking barriers in understanding and equipping an individual with the knowledge to empower them in their finances. It has been a step-by-step journey to see the SMMEs implement good principles which can now, more than ever, be used to get their compliance in order as well as their financial health in order. Challenges and objectives might change, but these vital financial principles gained stay the same, so being consistent is key”, says Finance Coach, Khulekile Msimanga.
Creating financially savvy entrepreneurs is one of SAICA ED’s core aims. They believe that Financial Excellence will help businesses to grow sustainably, access funding successfully and ultimately employ more people. Thus it’s Flagship Enterprise Development Programme was a 12-month bespoke Financial Excellence geared programme, focusing on three main pillars namely; Financial one-on-one coaching, Financial bootcamps as well as Accounting and Back-office support. Together with the financial focus, a strong element of leadership coaching and personal development was also included.
Former ED Programmes Manager and Leadership Coach, Puseletoso Modimogale says, “This has been a transformational growth journey for the SMMEs and we want to celebrate them as they have really showed resilience during this time of Covid-19. This is the time that requires innovation and creativity, but most importantly mental strength, which is why coaching on personal development is so crucial in the programme.” She later mentioned that “It is not only about an entrepreneur delivering a service but also about their trust in their ability to deliver their services, their understanding and financial conciseness consciousness i.e. what they believe about money.”
Some very positive feedback was also heard from the SMME’s themselves:
Says Kgositsile Mokhosi, director of Brewed Echoes, “SAICA Flagship Programme has been very helpful to me as an entrepreneur to develop a financial acumen and understanding the finance language in my business. I have also had to build myself as an individual through the personal development engagement with our Leadership coach. I have acquired value that I was able to implement in my business and apply strategies for the future, for a more sustainable business.” Brewed Echoes is in the entertainment and tourism industry offering Event Management, Catering services, Décor and Product Launch support.
Says Immaculate Mandile, Director of Aflu Gardens, “The Programme has given us the blueprint on our financial management, the bootcamps were very informative. The personal development section was also helpful in how to approach business challenges. Aflu Gardens specializes in landscaping and pet-friendly / herb gardens that contribute to the well-being of humans which are in harmony with the environment and do not deplete or damage the natural ecosystem.
This programme was sponsored through Enterprise and Supplier Development contributions from the private sector. The programme does not only grow SMMEs but creates opportunities for private sector to play a role in developing small businesses. Seven of the current graduates will continue with SAICA ED on a Customised Covid-19 SMME Relief Support programme that will run until October 2020.
“We wish all of our 2019 programme graduates well and hope you have gained excellent financial knowledge. This is the time to show innovation and pivot your businesses to find new ways and opportunities to rise up during and through this period. One of my biggest desires going forward for SAICA ED and especially now during this COVID-19 reality, would be for us to play an advocacy role in reducing some of the red tape and to simplify the processes for small business in terms of compliancy requirements,” says Annie McWalter, CEO of SAICA Enterprise Development.
Alan Straton
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