Feb 2022 2nd Edition

SAICA coaching boosts SMMEs

Written by Silusapho Nyanda

An internet and printing shop has tripled its customers in only six months, thanks to the coaching it received from the South African Institute of Chartered Accountants (SAICA).Piet Rakabe is a beneficiary of SAICA Entrepreneurship Development Programme.

The SAICA Entrepreneurship Development (ED) programme linked Piet Rakabe (30) of PRR Trading and Projects to a business coach who taught Rakabe how to maximise his business potential.

“We used to get about 20 customers a day, but now I have 60,” Rakabe says.

Based in Mankweng, Limpopo, PRR Trading and Projects is an internet café that also assists students to apply for bursaries.

"We now know more about taking care of the business to make sure that it operates profitably,” says Rakabe.

Coaching for success

SAICA’s coaching and ED work helps small businesses navigate the ups and downs of managing a business. The coaches use their experience to teach entrepreneurs lessons that help to take businesses to new heights.

The programme focuses on the implementation of financial controls, business strategies and revenue generation. Entrepreneurs also learn about cost reduction tactics, as well as possible job creation and expansion.

Rakabe says his coach taught him how to manage PRR’s finances and move from being a cash-only business to one that accepts card payments. Customers found the card payment option convenient, he says, and the business has been able to retain customers and attract new ones.

Jameel Khan, Head of Projects at SAICA ED, says the programme aims to empower and develop financially savvy entrepreneurs.

“The purpose of the initiative is to connect businesses with qualified business professionals to foster business and business owner development and growth.

"We have seen a great demand for small, medium and micro enterprises (SMMEs) needing business finance coaching,” Khan says.

He adds that the growth of small black businesses will create employment opportunities.

“Despite the Coronavirus pandemic in 2020, we saw 22 new jobs created from 13 SMMEs in our SAICA ED flagship programme, as well as 77% of the SMMEs being able to generate a profit.”

SAICA ran a six-month ED flagship programme from June 2021 that supported Rakabe and 21 other SMMEs.

The high demand for coaching led to the launching of a second six-month programme in September 2021, which benefitted 46 youth- and women-owned SMMEs in various sectors.

For more information on SAICA ED, visit: www.saica.co.za/enterprisedevelopment

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