FTI Consulting, Inc. (NYSE: FCN) recently announced a collaboration with SAICA Enterprise Development (SAICA ED).
Through ESD initiatives, SAICA ED drives economic transformation and job creation under the Learning and Development division of the South African Institute of Chartered Accountants (SAICA).
Through this partnership, FTI Consulting assisted in implementing a financial excellence programme to assist small to medium enterprises with skills training in financial management systems that are needed to run effective operations and become more robust and sustainable enterprises.
“To continue empowering the communities in which we operate, FTI Consulting has embarked on this journey with SAICA ED to help spearhead growth in the economy and increase job creation.
“Through this we hope to see improved financial skills capacity, internal controls, and compliance to regulatory requirements in small to medium enterprises that we engage with,” said Aamena Nagdee, a Senior Managing Director in the Corporate Finance practice in South Africa.
To help address the barriers that small to medium enterprises face due to a lack of financial skills, knowledge, and financial management which constrains sustainable business growth for small to medium enterprises, FTI Consulting partnered with SAICA ED and assisted with the implementation of the following components:
- Finance coaching for 10 Small to Medium Enterprises
- Technical and digital training
- Marketing and branding training
The programme runs over a six-month period and includes:
- Developing financially astute small to medium enterprises through proper financial management from the finance coach.
- Partnering with SAICA Enterprise Development to play an active role in helping unemployed youths with a small business opportunity to join and complete the SAICA Enterprise Development programme to help bring their business off the ground.
All entrepreneurs are tracked in terms of their business growth and their success against the initial financial evaluation and review.
This is achieved by establishing solid financial record-keeping practices, as well as coaching the entrepreneur in financial management systems and effective cash flow processes which enhance the small to medium enterprise’s ability to make effective and relevant business decisions.
SAICA ED continues to commit to growing South Africa’s entrepreneurial ecosystem through advancing the sustainable growth of SMMEs and especially Black-owned businesses through developing financial excellence.
“We are very excited and proud to be strategically collaborating with like-minded partners such as FTI Consulting, together we play a crucial role in driving economic development in South Africa,” comments CEO of SAICA Enterprise Development, Annie McWalter.