“Supporting women to lead the way toward sustainable, equitable and inclusive growth should be our global priority.”
– MIWE report, entitled How targeted support for women-led business can unlock sustainable economic growth
“Understanding and supporting the entrepreneurial potential of women in business, in order to unleash their economic power, is also a priority at PSTM,” says Phuthanang Motsielwa CA(SA), RA, co-founder and director of PSTM Chartered Accountants and Auditors.
“At PSTM, it is our unique combination of sound technical expertise, industry knowledge and experience spanning 12 years – along with a shared commitment to effect positive change in all our interactions with our clients – that makes us different. We understand entrepreneurs and their specific business needs, and as women in business ourselves, we also understand the unique challenges women entrepreneurs face.”
“On a practical day-to-day basis in a small or medium business, one of the most evident success factors is a strong financial function,” explains Noluthando Myeza, Accounting Supervisor at PSTM Chartered Accountants and Auditors. “This could be an inhouse accountant or a fully outsourced accounting service that can help boost growth and financial success in the business, regardless of the socio-cultural and infrastructural challenges faced.”
Just some of the crucial contributions of such a financial solution, whether outsourced or inhouse, are listed below.
Practical targeted support from a strong financial function
- Providing a better understanding of the numbers that drive the business.
- Providing real time reporting to ensure proactive and agile decision-making.
- Enhancing the predictability of the business finances.
- Identifying cost saving drivers and improve efficiencies.
- Facilitating access to finance.
- Taking care of compliance and tax matters.
- Managing cash flow and working capital.
- Reporting on and reviewing business performance.
- Implementing systems to manage and monitor operational requirements.
- Facilitating training and upskilling of team members.
- Ensuring accountability for business processes.
Women in business are our ‘best opportunity’
PSTM’s approach is in line with a new sentiment around women’s economic contribution that has been arising at the highest levels over the last few years.
“Freedom cannot be achieved unless women have been emancipated from all forms of oppression.”
– Nelson Mandela, former South African President
“History shows that when women and girls have access to opportunity, societies are more just, governments are more likely to serve the needs of all their people, and economies are more likely to prosper.” – Barack Obama, former US President
“Women entrepreneurs are our best opportunity.”
- European Investment Bank[i]
“… by addressing the difficulties women entrepreneurs face, we can unlock the potential of women’s businesses to become a major driver of economic growth and poverty reduction.[ii]
- World Bank
“Advancing gender equality is smart economics, sound business practice, and essential development policy. When women and men have equal opportunities … it leads to enhanced productivity, improved development outcomes, and better performance by businesses and institutions.”[iii]
– United Nations
“What is also clear from the research is that
with the right policies and targeted support in place, a huge burst of entrepreneurial energy is primed to burst onto local, regional, national and international economic scenes.”
– MIWE Report 2021
These statements point to high-level progress towards a more gender equal future that will also unleash a meaningful recovery that benefits all: a future vision truly worth celebrating and sharing this Women’s Month.
“The directors of PSTM share a common purpose and commitment to excellence and the advancement of women in business,” says Motsielwa. “We are a team of progressive, smart and approachable consultants who offer insightful advice and robust solutions that enable women-owned businesses, regardless of organizational size, to unlock the benefits of a strong inhouse or outsourced financial and accounting function that can help them reach their full economic and business growth potential.
[i] https://www.eib.org/en/stories/investment-in-women-entrepreneurs
[ii] World Bank Group’s Africa Gender Innovation Lab and the Finance, Competitiveness and Innovation Global Practice Report: Profiting from Parity: Unlocking the Potential of Women’s Businesses in Africa.
[ii] https://openknowledge.worldbank.org/handle/10986/31421
Sources
https://nationaltoday.com/national-womens-day
https://www.eib.org/en/stories/investment-in-women-entrepreneurs
https://www.bcg.com/publications/2018/why-women-owned-startups-are-better-bet
https://generationequality.womendeliver.org/#gender-equality
https://www.news24.com/citypress/sponsored/sponsored-south-africa-grows-number-of-women-business-owners-despite-challenges-mastercard-index-of-women-entrepreneurs-20220314
https://www.mckinsey.com/featured-insights/employment-and-growth/how-advancing-womens-equality-can-add-12-trillion-to-global-
