Accountants are an invaluable part of any business and FNB with Xero and Edge Growth are once again teaming up to support black-owned accounting practices.
The trio started the FNB Xero Programme for Accounting Practices in 2021 and a call has been issued for a new group of cohorts.
“In aiming to fund SMEs, we often encounter constraints arising from ineffectual financial management, accounting, and bookkeeping,” explains ESD solution strategist at FNB, Avani Manilal.
“On the other hand, we noted that there are few black-owned SME accounting practices serving this market. This led to the design and delivery of a bespoke programme aimed at scaling black-owned accounting practices who can then in turn better serve the SME market. We partnered with Xero because of their focus on innovation and the digitisation of businesses, as well as the fact that they are as passionate about building businesses as we are,” adds Manilal.
The programme will take in a maximum of 15 entrepreneurs. These entrepreneurs are selected over a five stages. The first stage is as simple as completing a form but the requirements become more demanding as the programme moves toward the final selection in the first week of December.
Once selected, the entrepreneurs will participate in a programme that seeks to promote digital transformation and facilitate the improvement of quality accounting, advisory and compliance services. The programme also hopes to empower black practice owners with holistic, practical practice-management skills.
“Normally, as accountants, we are great at looking at other businesses and giving recommendations and suggestions, but we tend to neglect our own houses. This programme not only shines a light into your own business, but entails a lot of personal growth and development that takes place in terms of us as entrepreneurs. I would recommend this programme to every single accountant,” said founder and managing director of Ncumisa Chartered Accountants and Auditors, Ncumisa Nodaka. The entrepreneur was part of the 2021 cohort.
Applications for the FNB Xero Programme for Accounting Practices 2023-24, Supported by Edge Growth close on 30th September and selection requirements include:
Registered accounting practice that has been in operation for at least three years
- Practice is 51 percent black-owned,
- Accreditation with professional bodies such as SAICA and SAIPA,
- Experience servicing SMEs,
- A desire to use technology to improve,
- Aspirations to grow and attract investment.
If that sounds like your business, head to this link and apply.
[Image – CC 0 Pixabay]
