It is commendable that Sipho wants to do things above board and realised the importance of empowering himself with money management (financial management and accounting) skills in order to achieve his goals and grow the business.
Sipho should however guard against outsourcing everything to his accountant without understanding the work. At this stage the business, Sipho should empower himself to understand and prepare his financial statements by attending Growth Accelerator Masterclasses, approaching NYDA, SEDA or even watching videos and conducting research on the internet. It is only when the business has grown to an extent Sipho cannot cope with the work that he can outsource or hire someone to do the accounting work. Even when there is someone doing the books, he must still consistently watch his numbers.
Empower yourself, grow your business!
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