My CFOABC OF BEE
About My CFO
My CFO provides virtual CFO services to SMME’s. Our offerings have been designed around providing SMME’s with accessible, high-quality business financial advisory and solutions with the aim of achieving; Growth, Acceleration and Funding.
MyCEO’s group services include:
- Business finance advisory
- ESD solutions
- Learning solutions
My CFO’s Business Finance Coaching Programme has been an empowering learning opportunity for SMMEs, designed to help strengthen their financial understanding and decision making, to create value and wealth in their business.
The programme aims to advance SMMEs by improving the owners’ engagement with their company’s financial information and utilising those new business insights for better decision making. The programme helps owners account and report to their stakeholders while ensuring all compliance requirements are met, so that the business is funding ready.
Facing Business Challenges
My CFO identifies six key challenges that new businesses face that the Business Finance Coaching Programme looks to help SMMEs overcome. To overcome these challenges, we need more prudent financial knowledge and tested best practices which helps keep our SMMEs competitive in an always-evolving market conditions. They aim to help companies reach their highest potential. My CFO has identified these key challenges:
- Limited financial expertise
- Not understanding the drivers of financial performance
- Unprepared for funding opportunities and investor interest
- Costly and time-consuming trial and error
- Poor business planning discipline
- Lack of financial management experiences
By completing this programme, owners can gain enhanced understandings of the Finance Function and how to improve its productivity. Building the confidence to engage with financial reports and relay the insights gathered to funders and investors.
Enterprise and Supplier Development (ESD) is central to the economic transformation of South Africa and My CFO helps improve ESD outcomes in most industries and in all three criteria: Preferential Procurement, Supplier Development and Enterprise Development.