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Johnaton Dorasamy, Head of Sales for Small Business

 

Working with entrepreneurs is like being on an emotional rollercoaster. I am inspired and admire the passion new business owners show for their ventures. You have big dreams to establish a thriving company that will change many lives for the better – not just your own.

 

But, on the other hand, I know that big dreams and passion are not enough to ensure your business in sustainable and enabled for growth. I believe the biggest challenge facing SMEs is having strong admin, accounting and financial management tools and processes in place. This can be incredibly daunting for an entrepreneur, who is usually pressed for time and focused on finding customers or clients.

 

Here are three tips I share with our clients to enable the growth of their businesses:

  1. Separate your business and personal bank accounts. This not only simplifies day-to-day transactions, it also allows your business to show its financial muscle, which helps you stay on top of your cash flow and builds a strong case when you apply for funding.
  2. Put the building blocks in place during the early stages. Today’s small business is tomorrow’s big business. By getting the banking and admin basics set up during start-up phases, you are putting your business years ahead and saving yourself the headache of trying to figure it all out while trying to take your business to the next level.
  3. Seek professional advice and assistance. There is no checklist that exists to make sure you have “ticked all the boxes” and implemented the right systems and processes. Start-up businesses just don’t have the money to hire experts or purchase the best software to streamline business operations. But you should find someone in the know who you can turn to for guidance.

 

The entrepreneurial journey is not an easy one. We dedicate a relationship consultant to each client, who can help with everything from internet banking to assisting with general banking knowledge, 24/7.

 

The Sasfin Beyond platform also gives anyone with a transactional bank account access to tools designed for entrepreneurs to help you from start-up to scale-up phase. This includes invoicing, payroll and quotations, and managing your business cash flow.

 

Being able to go beyond for our clients means looking at the challenges facing entrepreneurs and coming up with solutions to help tackle these. It’s incredible to be a part of growing a small business, enabling people’s dreams, hopes, and, ultimately, their lives and that of their families.

 

About the Author

Johnaton Dorasamy
Head of Sales of Small Business, Sasfin Bank