Small Businesses Are Flying Blind On Their Own Finances
Most township businesses in South Africa are being run on guesswork, not numbers. According to the FinScope MSME South Africa 2024 Survey, approximately 57% of township businesses keep no formal financial records at all and 77% still track their money by hand. This leaves many owners unable to tell whether they are making a profit or a loss, which in turn locks them out of the funding and support they need to grow and scale.
Generating sales, on its own, tells only half the story. A business can be busy and still lose money if no one is tracking what it costs to run it. Without accurate financial records, entrepreneurs also struggle to manage cash flow, meet tax obligations or convince a bank to fund them.
Good financial management does not require expensive software. A notebook, a spreadsheet or a mobile application is often enough to begin recording every transaction and building a clearer picture of business performance.
The following practices can help entrepreneurs get started.
1. Recording every transaction builds financial discipline. Documenting each sale and expense, however small, helps entrepreneurs understand the true cost of running their business.
2. Separating personal and business finances improves visibility. Using a dedicated bank account or digital wallet allows entrepreneurs to see exactly how their business is performing.
3. Reviewing cash flow weekly reduces financial risk. Regular monitoring helps entrepreneurs anticipate expenses, identify slow periods and avoid unnecessary debt.
4. Analysing spending patterns protects profit margins. Understanding where money is spent enables entrepreneurs to reduce waste and negotiate better terms with suppliers.
5. Strong financial records unlock new opportunities. Credible financial statements make it easier to access funding, secure procurement contracts and join support programmes.
According to Andiswa Bata, Group Managing Executive for Business and Commercial Banking at Nedbank: “Strong financial management starts with knowing your numbers. Entrepreneurs who consistently track their income and expenses are better positioned to make informed decisions, manage cash flow and build sustainable businesses.”
In response to this challenge, the TEA Kasi Business Workshop will bring practical support to KwaMashu on 15 August 2026. As part of the ongoing “How to Series”, the session titled “How to Track Income and Expenses” will equip entrepreneurs with practical tools to improve bookkeeping, strengthen financial discipline and build sustainable businesses. Attendees will leave with practical ways to monitor cash flow and make informed business decisions.
Kasi Business Workshop details:
Date: 15 August 2026
Time: 09:30am
Venue: 56 Ntunjambili Road, Esibubulungu, KwaMashu, 4359
Registration link: Here (registration is compulsory)
Watch live: Here
The TEA Kasi Business Workshop is built on five key pillars:
- Kasi Pitching Challenge: A competitive platform that enables local businesses to pitch for a share of the grand prize of R55 000 (a blend of cash and business support)
- Kasi Business Exhibition: A local market platform that allows businesses to showcase and sell.
- Masterclass: An In-depth session focusing on the theme of the day, delivering practical business knowledge.
- Mbawula Chat: An intimate conversation with a seasoned Township Economy Champion, profiling a business journey spanning over decades, focused on lessons, resilience and practical wisdom.
- Hacking Networking: A structured and facilitated engagement where entrepreneurs connect, collaborate and work through real business challenges using a social and practical problem-solving format.
Township entrepreneurs in KwaMashu and surrounding areas are encouraged to register now, as spaces are limited. Visit the registration link above to secure a seat at this free workshop and take the first step towards managing your business finances with confidence.
