What can we do to help Start-ups & SME’s become more sustainable?

The SME sector has seen a considerable rise in the number of startups over the past few years which has been a great contributor towards the economy, generating a third in the general value added to the country as well as 30% of total employment. However, SME’s have a very volatile lifespan, with a University of Western Cape study indicating that 70-80% small businesses fail within the first 5 years. It is apparent that long-term sustainability remains a major concern within the SME sector and continues to be an area in which we at FALWARD believe we can have an impact.

The name “FALWARD” is thus an acknowledgement that with the tough economic conditions having a negative impact on businesses on a local and global level, it is expected that a start-up or SME will at some point face financial difficulty. Therefore, we hope to put them in the best position to “fall forward” by ensuring that their business structures and processes leave them well positioned to continue moving forward and surviving the difficult periods.

We believe in helping strengthen the SME sector by providing accounting & tax services for our clients in a manner that goes beyond just filing tax returns and preparing reconciliations. It is about collaborating with each other and looking at ways that we can help you maximise the potential of your business. We see ourselves as business partners with our clients, because of this, we take on a keen interest in every aspect of their business and ways in which it can grow.

Furthermore, we encourage the use of technology within our client base and look to ensure that processes are more streamlined. As a result, we made the decision to be a fully remote accounting firm that focuses solely on cloud accounting solutions. This gives us and our clients flexibility, this allows for consistent and regular feedback on the financial performance of the businesses our clients are involved in. It ensures that we can tackle challenges in a manner that is not rigid.

Our goal at FALWARD is to help our clients be compliant, successful and resilient to the economic challenges faced by every business. We look forward to making a positive impact on the SME sector, and look forward to continuing to meet phenomenal entrepreneurs who will help change the current landscape.

We look Falward to being your business partners!