By Kerry Dimmer
A stat provided by the University of the Western Cape (2020) says that South Africa has one of the highest failure rates of SMMEs in the world, with 70-80% of them failing within five years, and that only 1% of businesses from previously disadvantaged communities progress to employing more than 10 employees. “This is a stat that proves just how desperately the SME sector needs direction and new learning abilities, as well as agile thinking and problem-solving strategies,” says Shanilla (Shani) Naidoo, founder of Nemesis Accounting, which is not your average financial accounting services provider.
Nemesis Accounting doesn’t simply take the approach of educating SMEs about wealth or money. Neither does it provide financial assistance. What is does however, is to embed in business owners a new way of existing, of maximising human potential, intrinsically enabling agile and creative thinking, all of which ultimately entrenches correct business principles and strategies with new age learning skills. The ‘how’ is through the application of neuroscience and neuro-linguistic programming.
“Change the mind first, and the rest becomes simpler to achieve,” says Shani, who applied neuroscience principles to both herself and her business, the results of which elevated the company, and Naidoo, into the public space via prestigious publications, a nomination for the NSBC’s Small Business Entrepreneur of the Year, yet another from Standard Bank’s Top Women as one of SA’s top Gender Empowerment Companies for 2022. Also this year, Nemesis Accounting is nominated and been positioned as Leader of Empowerment and Transformation in SA business, for 2022.
Living proof of transformative effects of neuroscience
“I, and Nemesis Accounting, are living proof of the transformative effects of neuroscience, so instead of being just another accounting firm, we have been able to transition into the right fit for us; an accounting firm that allows us to provide assistance to SME’s, and traditional clients, that in turn can bring about similar transformative effects for business owners and their businesses.”
The application of Nemesis Accounting neuroscience techniques are applied by using a holistic approach to financial management and teaching that provides lifelong learning and real life application of concepts that have immediate results. This holistic integration is three-fold: business specialist skills; emotional intelligence; and mental agility. “We aim to maximise and engage the human potential and teach applications rather than preach or just disseminate knowledge.
“Our training company for example, teaches, as a franchisee. ‘Smart Money’ which presents financial learning, money management and growth tools. These are not taught at school and nor do we see any focused sustained drive in the country to intrinsically improve and assist the SME sector, which results in business goals hardly ever achieved,” says Naidoo. “This has always been a huge shortcoming in the business sector, with SMEs falling into a bottomless pit when it comes to their need for professional cost-effective services.”
Negative experiences
Shani has been in that pit. She explains that starting a female-owned business during the Apartheid era was fraught with challenges and little to no assistance. “These negative experiences, setbacks and refusals, did not deter me from creating an accounting business, but did change the ethos to being one that assists in bridging the gaps, and in providing a different integration of services.”
In the early years, however, Nemesis did service all manner of clients that came through the door, and still maintains the financial services such as tax, accounting, compliance, bookkeeping, and business rescue, and niche services like SARB clearance, loan regularisation, public officer services, internal auditing, and SARS objection and recourse. Yet Shani remained focused on her vision to create a more meaningful company, driven by a deeper sense of purpose than just to serve the business sector: that being to create the best and most-suited accounting company for SME’s, and provide financial mindset transformation through neuro-leadership coaching and neuro-linguistic programming.
“Over time we were able to create an avatar client, which was when we added the niche services,” says Naidoo. “This has made us somewhat unique in the industry, as has the addition of SME Warrior, the training leg of Nemesis Accounting launched in September 2020.” SME Warrior, extends the transformative work undertaken by Nemesis Accounting in helping clients be more goal-oriented and target-driven.
Entrepreneurial academy
“Our next move is to introduce an entrepreneurial academy and we are currently finalising manuals and modules that will give us accreditation with the Quality Council for Trades and Occupations (QCTO).”
The evolution of Nemesis Accounting has come about through tangible results rather than advertising or marketing through social media channels. Shani has directed the company into the realm of participating in skills development summits, especially those that discuss the pitfalls and shortcomings of skills shortages in the country, the impact these challenges have on the economy, and the quality of businesses in the sector. “We have also morphed our approach this year to include live video workshops and masterclasses that will enhance our transformation elements.” Nemesis Accounting is also proud to be a co-sponsor of the SMME Virtual Roadshow that was held in October 2021.
Shani is the epitome of a new age business woman. She serves as a trustee on the BBBEE share incentive trust, VAE Essop Trust. She is also the public officer for five international companies that have projects in South Africa, a strategic business advisor to the woman’s magazine 21st Century Women, and is founder and owner of not just Nemesis Accounting and SME Warrior, but also Compliance Statutory Project Services.
Success, says Shani, is interpreted in many different ways by different people. “For me, the greatest success is the extent of the capacity that my businesses and I bring about for lasting transformation … be that for businesses or their owners. That I was able to achieve my vision and change the lives of many enterprises, and introduce a new way for accounting practices to operate, means I have created, and continue to create, the value of my intentions.”
