Business Formalisation and Corporatisation Services

A number of successful businesses in South Africa were established by a single entrepreneur or family many decades ago. After many years of operating, these businesses are thriving financially but a number of cracks are starting to emerge:

1. Lack of clarity on roles and responsibilities at an executive level, with many individuals performing multiple tasks that sometimes overlap.
2. No formal governance structures in place to record decisions and follow up on actions
3. Key man/people dependency, where an individual or individuals (normally the founders) make all the decisions. Business comes to a halt if the founders are unavailable due to a sickness or are away from the office.
4. Strategic planning normally occurs from a single event e.g. a business opportunity or threat, rather than from a well thought out process. This has an impact on budgets as well.
5. Executive staff that are not related to the owner/family don’t have clarity about their future prospects and the compensation received may not be commensurate with either their effort or the value that they’ve generated for the business.
6. Absence of formal policies, procedures and processes, resulting in an ad-hoc and inconsistent application of business rules.
7.  An inability to strike the right balance between driving growth and managing existing operations due to a lack of operational and strategic structure and capacity.
8. If the children are not interested in running the business, there is a succession planning issue. This also becomes an added issue if it is a family run business e.g. how do you value or dispose of 2.7% in a private company or ensure an equitable split?

The Whiz Biz Formalisation and Corporatisation Service establishes the governance, process and human capital infrastructure that is needed for your business to reach its true potential.

Each engagement is unique but you will receive value throughout the process

Whiz Biz has unparallaled credentials in providing this service:       

• Executed by individuals that were CEOs of large companies:
  • Operated in two highly complex, structured and regulated industries, with multiple layers of governance and control as well as diverse stakeholders.
  • Not just strategy consultants but resources with a track record of establishing and successfully managing formal sector businesses worth billions of rands – experience that can’t be easily replicated.
  • Both are Chartered Accountants that can deal with soft issues like culture as well as hard financial matters.
  • Deep understanding of the ethos of owner managed and family businesses
• Focus is on execution and operationalisation – not “talk-shops”.
• Affordable relative to the unique skills and expertise provided. Established accounting and/or consulting firms would charge exorbitant fees for the same offering.
• Can manage a listing process if this is requested.