Do any of the following apply to your finance department? Unplanned leave by your head of finance cannot be taken due to no backup plan in place Ongoing overtime being worked by the head of finance You ask for financial reports and never get them on time When you eventually get the financial reports, it is just numbers rather than information. Whether or not you realise it, the above are signs of the perfect "storm" of inaccurate results and possible fraud within your finance department. The storm could be brewing or well underway. As businesses grow in turnover, many business owners find it very challenging moving from having a bookkeeper as the head of finance to an experienced financial manager as the head of finance. The common theme in these businesses is that most of these business owners have fallen prey to having the majority of their financial affairs in the hands of one person. This situation is despite their business having grown and being able to afford a more sustainable financial team. Business owners generally enquire from their head of finance if more resources are needed. In fact, they continue to ask this question over and over again as they endure more and more of the signs mentioned above. That is equivalent to asking a person drowning in a pool whether or not they need your help. Of course, they need help. Asking a rhetorical question is just a waste of time. Once you see the signs, take action. Engage the services of a financial governance expert to give you insight into what the best way forward would be for your finance team to support the business with accurate meaningful information timeously, with proper backup plans in place, and internal controls. Maintaining a sound financial department requires ongoing effort. As the business changes, so too must the resourcing and internal controls within the finance department. So, make this part of your business culture and reap the pleasant rewards of peace of mind.  info@fdvedanta.co.za www.fdvedanta.co.za

Dating back some 100 000 years, the KwaXolo Caves, located inland of Margate on the KwaZulu-Natal (KZN) South Coast, were once openrock shelters for indigenous San communities, with the history of these people echoed in the rock paintings evident today. Set atop the precipice of a deep gorge and boasting some of the region’s most magnificent views, these once-inaccessible caves are now a top tourist attraction following the launch of the KwaXolo Caves Adventures earlier this year. “The area is renowned for its coastal activities but there are so many exciting tourism developments within the hinterland region,” said CEO of Ugu South Coast Tourism (USCT), Phelisa Mangcu. “We believe local tourism opportunities must be inclusive of all communities, and the establishment of the exciting and innovative KwaXolo Caves Adventures is just that. This is a fantastic fusion of cultural, natural and extreme sports’ tourism that gives visitors a unique experience of the KZN South Coast while empowering the surrounding communities.” The caves are now accessible through the erection of a via ferrata system, which is a climbing route using steel cables and rungs fixed to rocks. Visitors are kitted out in safety gear and securely hooked to the cables, allowing them to walk safely along the precarious mountain path. This system of harnesses and a 300-metre cableway was designed by the same engineers tasked with creating the famous Wild Swing at Oribi Gorge – another popular tourism attraction on the KZN South Coast. Led by experienced tour guides, visitors are taken along this incredible mountainside, attached by two safety lines on a fixed cable. These are then moved along as the hike extends towards the KwaXolo Caves, with expansive views of the waterfall and endless gorge providing a captivating backdrop. Once inside the KwaXolo Caves, visitors can view the ancient San rock art that depicts the area’s rich cultural heritage. Similar to rock paintings found in mountainous regions throughout the province, the sites are believed to have had natural, cultural and spiritual significance to the San people. The paintings are said to represent journeys of shamans (medicine men) into the spiritual world in an effort to induce rain, heal sicknesses and ease societal tensions. “The have been distinguished as being of extraordinary significance in terms of the South African Heritage Resources Act, and we believe this particular hiking experience is incredibly unique,” said operator, Shaun Makhanya. “In addition to the benefits for visiting tourists, the experience offers several benefits for the local KwaXolo and Dumezulu communities, including employment opportunities and community-development initiatives. Among these are entrepreneurial and skills’ workshops that will be hosted as soon as regulations allow. The increased tourism activity will also result in infrastructure development and maintenance, to the benefit of all.” Originally launched in March this year, KwaXolo Caves Adventures was halted during the Covid-19 lockdown, but with new Level 2 regulations, the business is operational for day visitors. This is the ideal picnic spot for those looking to enjoy the fantastic scenery, but visitors are encouraged to bring their own picnics. For more information about USCT, as well as events and activities on the KZN South Coast, download the free ‘Explore KZN South Coast’ app from Google Play and Apple stores or visit www.visitkznsouthcoast.co.za USCT is also on social media - follow the ‘South Coast Tourism’ Facebook page, or @infosouthcoast on Twitter.

Morar INC invites you to join us for a webinar on the effects of a growing threat in SA Become aware of how Cyber Security has evolved especially in recent month given the exponential breaches experienced by organizations worldwide. The impact is real, can your company survive with it's current measures? Click here to register for this FREE webinar .

There are two alternatives to buying a car upfront: leasing a car and financing a car In this economy, a vast number of people can’t afford the luxury of buying a car. Even those that can afford to are looking to make a smaller commitment. Some businesses have seen that people need more options when it comes to getting a car, especially those that have been blacklisted or are under debt review. There are 2 alternatives to buying a car upfront, which are leasing a car and financing a car. A car is an expensive asset to have but an asset, nevertheless. This is why people often look to finance a car. By financing a car, you have assistance in paying for the car over time while you use it, so that by the end of a specified timeframe you will have fully paid for the car and own it completely. Generally, this option is only available to those who have a good credit history because there will be a credit check and the financial institution will only help you if you are considered low risk. Something else to take note of is that you are responsible for maintaining the car and getting insurance for it. There’s also a good chance you’ll have to make a balloon payment. These additional costs are up to you to pay for but in the end, you’ll have full ownership of your car. The option that is rising in popularity is the leasing of a car. How is it different from financing a car? When you agree to lease a car, you are agreeing to only use the car for a certain period of time before returning it. Instead of paying for the value of the car, you are actually paying for the amount it depreciates in value while you have it. This makes it cheaper than financing but there are more limitations. You do not own the car and you will have a limited number of kilometers that you can travel before you start paying a per/km rate. Leased cars will come with a warranty (sometimes this includes insurance) and you’ll just have to take it for maintenance. However, when the lease period is over, you do not have to buy the car or make a balloon payment, nor do you have to worry about selling the car. Those that are blacklisted/under debt review will have an easy time getting a lease for a car. Financing and leasing have become the preferable options when it comes to buying cars. Both options offer to ease financial strain but have different conditions upon the end of their contract. You have to decide whether you want to own the car or if you want the low commitment of being able to return it when the lease has expired. Click Here to start your application APPLY NOW

Ahmed Shaikh We are in the cusp of the Fourth Industrial Revolution (4IR) which is replete with major disruptions in almost every aspect of our lives and in this respect education is no exception. Whilst the corporate sector is busying itself in preparation of the new headwinds through innovations in robotics, automation and big data analytics, the higher education sector is seemingly lagging behind in preparation of our students for employability in the new world of work, spawned by the processes of digitisation and digital transformation. Likewise, the nature of the new global economy, which is being radically changed around a framework of the 4IR digital innovation, has transformed how we do everything. Employers need graduates who can and will survive in a constantly evolving digitally grounded world supply economy. In the face of such rapid economic and social change, it is imperative that higher education promotes 21st century skillsto prepare students for a future that is by design highly unpredictable. It is a future where jobs that have not yet been created and technologies that are yet to be invented will constantly disrupt the status-quo. The Organisation for Economic Co-operation and Development (OECD) estimates that over the next 10 to 20 years, “14 percent of jobs are at high risk of being fully automated, while another 32 percent at risk of significant change”. The obvious outcome of this new scenario is that higher education institutions have to prepare students, in order to ‘right-skill’ them to adapt to the new world of work. Employability skills which may also be referred to as ‘soft’ skills are personal and professional qualities and values of character and outlook that will enable students to thrive in the 21st century workplace. These skills include critical thinking, problem solving (and a willingness to seek solutions to rapidly emerging changes), effective communication, adaptability, and perseverance. To a large extent Makerspaces can contribute significantly in helping students develop their skills and creativity, inspiring young learners to engage with the STEAM agenda – Science, Technology, Engineering, Arts and Mathematics. Although this is not a new concept, Makerspaces are gaining traction for the many benefits they provide students and the concept is increasingly being integrated into the education system. In effect a ‘Design Thinking Approach’ is enshrined in the conceptual foundation of a Makerspace. Learning in this new ecosystem includes considering real-world problems, research, analysis, conceiving original ideas, experimentation, and sometimes building things by hand. The projects teach students how to make a stable product, prototype solutions, use tools, think about the needs of another, solve challenges collaboratively, overcome setbacks and stay motivated on a long-term problem. The projects also teach students to build on the ideas of others, generate questions, deeply analyse topics, and think creatively and analytically. Academic Makerspaces are therefore increasingly being looked to as a method for engaging learners in creative, higher-order problem-solving and active learning skills through hands-on design, construction, and iteration. Consequently, the interdisciplinary, collaborative, and empowering natures of these Makerspaces help prepare students for a future that cannot be predicted. Makerspaces provide powerful contexts and opportunities for students to draw upon the innately human desire to make things using our hands and our brains. They provide this necessary outlet for students, fuelling engagement, creativity, and curiosity. Research study conducted by Small (2014) found that students that participate in activities involving innovation were inquisitive, imaginative and motivated and eager to solve real world problems with practical applications. Although Makerspaces vary in terms of the structuring of the learning environments, most spaces today tend to incorporate blended learning technologies to provide students with an immersive pedagogical experience. Student-centred learning in a Makerspace can also empower students, helping them to shift from being passive consumers of information to active creators and innovators. Ultimately the outcome of maker education and academic Makerspaces leads to determination, independent and creative problem solving, and an authentic preparation for the real world by simulating real-world challenges. Makerspaces are therefore considered as an important bridge between higher education academic learning and the future world of work, and they are particularly useful when incorporated into the teaching of STEAM subjects and increasingly higher education providers are incorporating Makerspaces into their curriculum with the aim to promote STEAM education. It is important to instil quality STEAM skills to meet the needs of an ever-more-technologically integrated society. It must be remembered though that Makerspaces are used to complement and not replace academic learning. In response to the exigencies of the technological disruptions of 4IR and the urgency to prepare our students for employability in the new world of work, Institutions such as Honoris United Universities have built curricula, teaching methods and a ‘collaborative intelligence’ model that places emphasis on preparing undergraduates for the world of work. It has developed a regional network and a learning ecosystem that equips students with the skills and knowledge that they need to succeed in the 21st century. The regional network equips its students with the skills and knowledge that they need to succeed in the digital economy. Towards this end the platform has established Honoris ‘iLeadLAB’, which is a Makerspace at Regent Business School in South Africa, a state-of-the-art medical Simulation Centre and an Artificial Intelligence Laboratory in Tunisia. Practically, the iLeadLAB provides its students, alumni communities and business partners with opportunities to bridge the gap between learning and work through STEAM immersion, work-related learning and internship boot camps, thus reducing the education-job mismatch and increasing employability competencies of its graduates. Through these new pedagogical innovations, Honoris United Universities is challenging the idea of the traditional ‘passive’ classroom experience by exploring how new physical and virtual learning environments can affect and improve not only learning outcomes but also help students to become fast-learning and flexible professionals with technological capabilities that are in high demand across all economies globally. Dr. Ahmed Shaikh is an Academic and Researcher and serves as the Managing Director of REGENT Business School, in South Africa.

They prefer to be called business forums, but have reportedly affected virtually every major construction site in KZN. They started off invading construction sites in KwaZulu-Natal (KZN), demanding 30% of the contract work. Then it spread to Gauteng, and has now gone countrywide. The tactic is working, and many contractors simply pay off the gangs rather than have building work disrupted. Sometimes they employ the locals, often at extortionate rates. They became known as the construction mafia, though they prefer to be called business forums. The business model is so successful that it is being replicated across the country in different sectors of the economy, as local community groups now move in on recently completed shopping and business centres, demanding to be employed in various roles. Many of the gangs are armed and threatening, demanding that new businesses employ locals rather than trained personnel from outside the area. All of this stems from new regulations to the Preferential Procurement Policy Framework Act, which allows 30% of all contract value on state construction contracts to be allocated to certain designated groups, including black-owned SMEs (small and medium-sized enterprises). The regulations do not apply to private sector construction contracts, but this has not deterred the local forums. Virtually every major construction site in KZN has reportedly been affected by the forums. Peter Barnard, a partner at Cox Yeats Attorneys, has been involved in about 40 cases involving business forums and, when asked by clients, has gone to court and won interdicts against more than 30 of them, preventing them from disrupting site activities. What is alarming, he says, is that the business forum model has spread to other sectors. “It’s no longer happening just in construction. It’s happening across the country and in many different sectors of the economy. I handled one case in the Eastern Cape last week where a major state-run project has been stopped for over a month by local groups demanding to be employed on the site. “All that happens is the local community, which would benefit from the hospital, ultimately suffers. “What has made the situation worse is that managers of the construction sites that have been targeted often end up paying off the business forums to make them go away, or hiring some of their members under duress, which only serves to encourage this kind of extortion.” These groups are now demanding to be employed as refuse collectors, or as tellers in new shopping centres. Barnard says broadly four groupings are involved: MK Veteran associations Taxi associations, Business forums, and Local communities. He says the solution is for more proactive policing and greater clarity from parliament around regulations over the 30% set aside for SMMEs, as well as a unified approach and front from contractors and business owners. Things got heated last week at the Master Builders Congress at Emperors Palace near OR Tambo International Airport, when representatives of the construction sector accused the police of doing little to solve the spread of crime on building sites. Gregory Mofokeng, CEO of the Black Business Council in the Built Environment, says contractors need to absorb as many South Africans as possible. “If not, the youth will create chaos here, not in Mozambique or Zimbabwe.” ‘We were not getting attention from our leaders’ Malusi Zondi, president of the Forum for Radical Economic Transformation, says forums are not a new development in the economic life of the country. “We formed business forums five years back because we were not getting attention from our leaders. We formed these forums not because we are criminals, but because government is failing in not enforcing contract obligations.” Zondi admitted that business forums had done wrong, but added that they are not the enemy. Sector Education Training Authorities are returning money to Treasury every year rather than training youth, as government has sworn to do. Contractors are abiding by the regulations (requiring 30% sub-contracting to SMEs), but still their construction sites are being disrupted by rogue elements. “Where there are disruptions, the police don’t act. I’ve not heard of one case of prosecution of illegal disruptions. We expect arrests.” German Mphahlele of the Construction Industry Development Board, told the congress that site invasions are exacerbated by a shrinking economy and rising unemployment. The problem is further aggravated by a misrepresentation of who qualifies for state sub-contracting work. “Some people are trying to say it is for locals. That’s not the case. It’s national.” ‘Some’ success Aubrey Tshalata, president of the National African Federation for the Building Industry, pointed to some successful engagements between the public sector, companies and local business forums. One such engagement in Port Edward in KZN resulted in a practical solution, with an agreement to train local youth and prepare them for work in the formal construction sector. Lieutenant-General Nhlanhla Mkhwanazi of the SA Police Services said the police are constitutionally mandated to prevent crime, but that they can’t do it alone. “In construction, especially in KwaZulu-Natal, we ask if cases have been reported to the police. We have taken a number of cases to court for prosecution.” Brought to you by Moneyweb

It’s not uncommon to hear about entrepreneurs who have unrivalled success stories – building empires which started out of garages or turning an old business into something new and impressionable. We all love an inspirational success story that started from the ground up, and such is true with the humble beginnings of Morar Incorporated. Roshan Morar’s journey began 25 years ago when he decided to start his own company – Morar Incorporated Chartered Accountants and Registered Auditors. His first move was to establish a single practice in his hometown of Pietermaritzburg, with the dream of perhaps later opening a satellite office in Durban. His bold step in the right direction has led to the building of strategic partnerships, adopting innovative technologies and improving processes to world-class standards. All of which have transformed Morar Incorporated from one office to a national firm with ten branches, nine directors and to become the first firm in South Africa to be affiliated with Allinial Global which is an international network of Accounting and Consulting firms that is ranked second in the world. Roshan revealed that at the time of founding the business, it was considered a risk to open an office. This risk was in light of the number of established accountancy firms already operating in the city and the natural reluctance among business owners to switch their regular accountants, who performed a critical service to their companies. Yet, he admits his venture has paid dividends exceeding his initial expectations! Morar Incorporated’s focus has always been to concentrate on small – and medium-sized family-owned enterprises. The chosen approach that Morar Incorporated embraced was that no client was too small, it’s about embracing the little people and doing the little things. And because of this, today, these businesses remain an important focus of the company’s auditing and tax services work. With the arrival of democracy in 1994, opportune moments arose for Morar Incorporated to provide services to all three spheres of government and the office of the Auditor-General. The company’s guiding philosophy has always been based on maximising clients’ productivity and customer experience challenges, not just delivering a service. Roshan credits the company success to the relentless dedication of his staff, who have remained focused on the fulfilment of their clients’ needs as a top priority. He also acknowledges the discipline of the leadership team — whose strong vision has paved the way for growth and success. BUT above all else, his gratitude towards his loyal clients, for trusting the company as their financial business solution partner of choice goes unparalleled. “Without their commitment to our business, we would not be where we are today. We look forward to continuing to serve you for many more years to come.” said Roshan Morar For Roshan, leaving his legacy behind is of utmost importance. For his firm to have stood, and STILL stand the test of time, leaving behind a lasting impression and making an impact, not only within his industry but also his country is everything he has fought so valiantly to achieve. VIVA Morar Incorporated!

Toyota South Africa Motors (Pty) Ltd (TSAM), in partnership with the Durban Chamber of Commerce and Industry NPC, has launched a business development programme for 13 SMEs that are Toyota suppliers. This supplier development programme is mentorship-focused to take these businesses to higher levels through a targeted development approach to support the growth of these individual businesses. This programme will be running for six months (July to December 2020), and, due to the coronavirus disease (COVID-19) pandemic restrictions, all training and mentorship sessions will be facilitated virtually. The business development programme will include: · COVID-19 workplace readiness · Business planning and compliance · Product innovation · Sales and marketing · Financial management and record keeping · Costing and pricing · Mentorship Participating SMEs on the programme are: · Clean Spot · Comms Cabling · Ethekwini Business Solutions · Fitama Protection Services · Madiba Fire and Security (Pty) Ltd · Ndeya Projects & Services CC T/A · Qubuka Cleaning Services · Reddot Group · Thompson Industrial Painting & Maintenance Services CC · Vyasa Trading · Xcelerator Plumbing Services · Zee Bee Freight and Logistics · Ziphilise Construction & Cleaning Enterprise TSAM’s Enterprise and Supplier Development Manager, Nonceba Biyela, said, “TSAM has long recognised the value that suppliers add across our business operations. The importance of supplier development in the automotive sector is further emphasised by the South African Automotive Masterplan (SAAM) which, rightfully so, seeks to promote the development of suppliers in component manufacturing.” “TSAM strongly believes that the development of Small, Medium and Micro Enterprises (SMMEs) is pivotal for the projected industry goals to be achieved. TSAM has therefore launched “Toyota: Driving Change” – an SMME development programme aimed at equipping candidates with business skills and other valuable competencies,” noted Biyela. “Facilitated by the Durban Chamber of Commerce, the programme will run over six months offering virtual workshops and mentorship to members. Among others, topics include COVID-19 workplace readiness, financial management, as well as conventional and digital marketing practices. Toyota: Driving Change” is a pilot programme and its future will depend upon the review at the end of the current programme,” concluded Biyela. Through the programme, participants will acquire some much-needed skills in the areas of business diversification, creation of sustainable business models, business competitiveness and visibility. Palesa Phili, CEO of the Durban Chamber, said, “The overall objective of the programme is to build on critical business competencies and capabilities of the selected suppliers to a level where they can apply such skills independently, thus improving the overall standard of their operations.” “The Durban Chamber, as the implementing partner of the programme, has developed a comprehensive action plan, partnering with New Seasons as a trusted training partner, to deliver the programme according to the needs of both Toyota Motors SA and its 13 suppliers. By the end of the programme the SMMEs would have expanded their business acumen and social skills through a comprehensive programme”, added Phili

If you would like to consider some good news during the Covid-19 pandemic, then here is some: Consumers will generally get better service once the coronavirus crisis ends. Notably, customer service generally separates successful businesses from those that are less so. What’s the key to offering better service after the coronavirus? Experts say businesses that figure out how to adapt, incorporate new technology and develop deeper human connections will come out on top – communication is still key. Forward-thinking businesses are already improving customer service in both big and small ways. In order to adapt and to deliver better service, businesses are: · Retraining their workforce to improve service delivery · Adjusting the way that they work to meet customers’ needs and to adjust to new social norms · Changing the way that they use technology Most experts say the biggest gains will happen online As people shift towards online platforms, the need for a human connection has never been greater. Businesses will soon realise that they can’t ignore their online presence and leave their customers to figure things out for themselves. The shift to using technology has taught us to explain things that might not be obvious. We all need an extra way of making sense of something – the use of resource centres or a direct contact person is invaluable. Better service also means seeing each customer as a person, not a transaction. And when something goes wrong, it means being willing to look outside the business policy to provide better service. The world is changing, and business simply isn’t business as usual. Those businesses that aren’t willing to address their client’s changing needs will suffer the consequences.

The Zululand Chamber of Commerce & Industry (ZCCI) has appointed Thami Sithole to take over as president from Thabani Shale. Sithole is the Richards Bay Port manager, appointed to the position in 2018. He joined the Chamber Executive Committee last year. His leadership and extensive experience has seen him garner business confidence as the next Chamber president. ‘My vision for the ZCCI is to see practical and sustainable business development and support,’ said Sithole. ‘The Chamber is open and ready to collaborate as a voice and neutral partner for business.’ He admits that many challenges lie ahead, but he has called on industries to be more proactive in responding to challenges. He is geared towards fostering strategic and sustainable stakeholder relationships during his tenure to create an enabling business environment. Sithole’s leadership at the Chamber will be supported by the two deputies, Hlengiwe Mvubu from Mondi and Gareth Reeves, chairman of the Eshowe Chamber Division. W: www.zcci.org.za

Grant Adlam is best known as a business storyteller and influencer for South Africa’s KwaZulu-Natal. For more than 35 years, he has been instrumental in advancing the region's commercial interests through media and networking. His legacy is founded on several key initiatives: ## 1. KZN Top Business Portfolio Established in 1995, this multimedia platform is his most notable contribution. It acts as a comprehensive directory of business in the province, offering: * The KZN Top Business Awards: A distinguished annual event (recently marking its Silver Jubilee in 2024) that honors excellence in sectors such as manufacturing, logistics, and small business. * Multimedia Publishing: He evolved the platform from traditional print to a modern digital ecosystem, including a highly-ranked website, social media tools, and video content. ## 2. Business Influencing & Networking Adlam sees himself as a specialized business influencer rather than merely a publisher. * Content Creation: He utilizes platforms like [YouTube](https://www.youtube.com/c/GrantAdlam) and [LinkedIn](https://za.linkedin.com/in/grantadlam) to amplify business leaders' voices, with series such as "Grant Adlam Live!" and "Coffee with Grant". * Connecting Leaders: He is renowned for creating a vast network that connects the civil sector, corporate businesses, and government agencies. 3. Advocacy for Local Talent He is well-known for initiatives that highlight specific demographics within the economy. * KZN Top Business Women: Created to honor women who make significant contributions to the local community and economy. * Leadership Portfolios: He curates profiles on "Business Gurus" and "Top Leaders" to document the achievements of successful KZN entrepreneurs. In essence, his recognition stems from being the official "voice" of KZN’s business community, having dedicated nearly four decades to ensuring the province's success stories reach national and international audiences. Would you like to know more about the upcoming 2026 KZN Top Business Awards or how to participate in his leadership interviews? Grant Adlam: The Voice of KwaZulu-Natal's Business Community

Many businesses fall prey to the situation where there is so much focus on growing top-line that bottom-line suffers. Eventually, management looks at the bottom-line results and cannot explain them. Such a situation often creeps up on management over a period of time and once revealed needs to be resolved almost overnight to calm down stakeholders. Results that cannot be explained are man-made problems, which, with the right resources on board, can be unraveled and explained. But it takes time and costs money to do so. A proactive strategy to prevent such incidences is advised as a long-term investment for sustainability. So, what are some of the building blocks necessary to ensure the sustained integrity of financial results numbers and information for decision making? Invest in getting on board the right calibre professionals within the finance team. Finance resources do not come cheap. You get what you pay for. If you do not invest in recruiting appropriately qualified and experienced people for your finance team then you are very likely to incur significant costs to undo the damage caused to your business by having brought on board the misfits. Equally important is assessing the business needs as it grows; these needs may outgrow your current head of finance, requiring a more senior person to be added on top with the overall oversight function of the finances. Implement key controls and business policies to ensure integrity of the numbers. Often, depending on the size of the business, not all key controls can be put in place. In such instances, monthly independent review and analysis of numbers by a finance professional plays a critical role as a key control in identifying any anomalies in the numbers. Cash forecasting is critical to keep cash flow under control with minimal business disruption and distractions. Cash flow is a reality that can close the doors of a business if not managed properly. Invest in a suitable enterprise risk planning (ERP) system to support your business needs. As your business grows and outgrows your current ERP system, invest in having professional project management of an upgrade or change in the ERP system with an in-house steering committee overseeing the project.  Burdening existing management who may already be overworked with little or no time to spare for such critical projects will only lead to throwing more money at rectifying problems associated with a poorly managed ERP project. Directors must invest in their own learning and development to be able to interpret the annual financial statements and ask the head of finance questions on the results with confidence to fulfil their duties in terms of the South African Companies Act. Accepting the results just because the auditors have completed their duties and are ready to issue an unqualified external audit report is not good enough reason for directors to approve the annual financial statements. In conclusion, ensure that the right building blocks are in place within the finance department to support sustainable growth. Growing at a rapid rate is just vanity if the business is not sustainable in the long term. As a mentor and financial governance expert, I often find business owners caught up in the present operations, with very little time invested on the long term (3 to 5 year) planning of the business. If no time is made for good governance, then the day will arrive when you are forced to make time. This day arrives once things have gone wrong. This is a very reactive approach and costly too. Rather, it is best to be proactive and create the investment in good governance today before you are forced to do so. info@fdvedanta.co.za www.fdvedanta.co.za