The South African Institute of Chartered Accountants (SAICA) is helping to address Small Medium Micro Enterprises’ (SMME) failures due to lack of financial management and literacy
Mathapelo Temogo, the sole owner of Black Pearl Coach Shuttles and Tours, shares that the SAICA Enterprise Development Programme has boosted her business by helping her “become a financially savvy entrepreneur”, to be “up-to-date with what is happening in my business and identify my “money wasters.””
“Thanks to my finance coach I am now able to make sound decisions, deal with my cash flow, draw up a budget and stick to it.” She added that “through these interventions, my business has experienced a 60% increase in profit; a 100% increase in turnover and I have managed to employ two staff.”
How the SAICA Enterprise Development Programme boosted her business
Mathapelo enrolled in the SAICA Enterprise Development Programme because she realized that most business owners struggle with handling their finances due to lack of understanding. Through her 6 years as an entrepreneur, she admits that she has encountered challenges in the industry.
“As a woman, working in a male dominated industry, especially the bus shuttles, there are trust issues to overcome. You have to work twice as hard to prove yourself, earn their trust and build relationships”, Mathapelo said.
Through learning and investing more time in her passion, she has overcome those challenges as she is working towards her destiny.
Running a sole-ownership business can never be easy. Her advice to all entrepreneurs is to, “seek help where you need it, like I did. You might get people who will help you to see greatness within you that you didn’t even know existed.”