For many entrepreneurs, maintaining healthy financial books is a challenge, but help is on hand from the experienced and professional team at Mafisa Chartered Accountants in South Africa. For founder, Hlobisile Shoba, it’s all about helping small businesses to grow by understanding their financials better.
LoA learned more about the specialist expertise of Mafisa Chartered Accountants from founder Hlobisile Shoba this month.
What does your company do?
We offer bookkeeping, accounting, tax, financial management and business advisory services.
What inspired you to start your company?
I have seen many small businesses struggle to grow their business even though the business is ready for growth. Through engaging entrepreneurs on the topic of growth, I noticed that they normally struggle with funding and that is because they do not keep financial records to show the numbers. In addition to that, many entrepreneurs do not know their numbers so when they pitch their businesses the part where investors ask about numbers is always badly answered because entrepreneurs are excellent at what they do but most of them are not accountants. I want to enable them to be in control of numbers such gross margins, turnover, profit, cash fixed costs, variable costs, what each number means and how it affects the business. I started Mafisa to help other business owners with bookkeeping and help them understand what their numbers mean so that they can use their financial information as a tool for growth.
"I started Mafisa to help other business owners with bookkeeping and help them understand what their numbers mean so that they can use their financial information as a tool for growth."
Why should anyone use your service or product?
Mafisa will not only provide you with the accounting and tax services, in addition to that we help you with the understanding of those numbers too. When we give you your monthly management accounts, we make sure that you have a clear understanding of where your business is going financially.
Tell us a little about your team
My team consist of 2 accountants and one tax consultant. The accountants have completed SAIPA and SAICA 3 year training programs and they are female. The tax specialist was previously employed by SARS for a period of 15 years in different areas of the institution.
Share a little about your entrepreneurial journey. And, do you come from an entrepreneurial background?
I learnt entrepreneurial skills when I was a kid by looking at my parents selling whatever that could be sold at the time. My mother sold jackets which she would stock from the factories and my dad is always selling something. At the school where he was teaching he was selling sweets and he owned a bottle store and a spaza shop which he operated after school hours. During school holidays we were tasked with working at the spaza and the older siblings would work at the bottle store. I think that is where it all began, the fact that I studied commerce also added to the love I have for entrepreneurship. I am always on the look out for opportunities and my mind is buzzing with ideas.
"Many entrepreneurs do not know their numbers so when they pitch their businesses the part where investors ask about numbers is always badly answered because entrepreneurs are excellent at what they do but most of them are not accountants."
What are your future plans and aspirations for your company?
I plan to focus it on consulting on issues of governance for SMEs, financial management and working with businesses to help them scale up. This I intend to do by using the financial information I would have helped them put together and produce. I always say that mastering your finances, whether in business or in your personal life, is a secret tool for growth.
What gives you the most satisfaction being an entrepreneur?
Adding value to my clients’ businesses is the satisfying part of the journey.
What's the biggest piece of advice you can give to other women looking to start-up?
JUST START!!! Your plan will never be perfect, execution opens you up to the loopholes in your plan. Execution is key!
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Why LoA loves it….
Managing finances effectively is often a challenge for small businesses, whether it’s maintaining cashflow, or balancing the monthly accounts. For Mafisa Chartered Accountants founder, Hlobisile Shoba, this is a challenge that her firm is ready to help small businesses to address. Every entrepreneur needs a great helping hand on the financial management front, and in South Africa, Hlobisile Shoba is ready to extend a highly experienced accounting hand to those who need to better manage their finances. --- Melanie Hawken, founder and editor-in-chief of Lionesses of Africa