(415) 418-0020 info@proteafinancial.com
Protea Conversations: The Protea Family

Protea Conversations: The Protea Family

Protea Financial was founded in 2014 to provide high-quality outsourced accounting at an affordable price. Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the workforce after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were previously overlooked.  Protea strives to represent people from all backgrounds and provide an environment for them to grow and succeed in a setting that provides the flexibility and acceptance of who they are as people.

We selected the name Protea because is the national flower of South Africa and is a symbol of our connection. The Protea flower has become an ornamental flower because of this striking beauty and is included in arrangements and bouquets as a symbol of courage or daring to be better or a sign of positive transformation.

Protea Conversations in 2023 will focus on positive transformation and representation from all backgrounds. We are broadening our Conversations with the hope that these conversations will continue to create a forum to discuss the experiences, opportunities, and challenges leaders face, and how we can build a more diverse, inclusive, and successful environment for everyone.

In May 2023, we reached out to members of The Protea Family, with this month a focus on learning from the South African management team, to get their feedback on an important question for all accountants and those entering the profession.

The spotlight question for this month is “What advice would you give to others entering the accounting profession to help them have better, more fulfilling careers?

This is a question about the managing expectation when entering this tough environment is important to feel satisfied with your discussion and find a way to become more resilient to the day-to-day struggle. Learning from those who have done it, helps us grow.

Some Members of The Protea Family

Protea Financial Trusted Advisors in Accounting

Michelle Bosman – Manager

Be cognizant of the importance of the accounting profession. Realize that the profession by its very nature allows us to be trusted advisors to others. Being mindful of this will allow you to appreciate the value that you add and can serve as a wonderful motivator, regardless of the space you find yourself in – whichever path you choose within the accounting field.

Lauren Peters – Manager

As the accounting profession has a couple of spheres to it, spend the time initially learning as much as you can among them all. Take the time to figure out which aspect perks your interest the most and will also positively add to your life as a whole and not just your career. Incorporate your career into your life and build them side by side and do not build your life around your career, this will feel more fulfilling overall.

Protea Financial Work Life Balance
Protea Financial Embrace Opportunities As They Come

Catherine Levey – Senior Manager

The Accounting field is actually really diverse in the type of work you can do so. Take every opportunity offered to you, try everything once, figure out what you are passionate about and find ways to incorporate those parts you enjoy into your weekly schedule. Be confident and don’t be afraid to fail, with failure comes learning and growth. Be open to feedback and have a learning mindset, find a mentor you can learn from and ask questions. Focus on self development and training. If you enjoy what you do and have a growth mind set you will have a fulfilling career and work won’t feel like a job.

Danielle Du Preez – Manager

Take every opportunity to learn and be open to learning in whatever form it comes. It can be hard to accept advice, constructive criticism or even dedicated performance improvement programs but with the right attitude and sense of humility these things will help you to move past what may block you in advancing within your career.

Protea Financial Keep Learning When Opportunities Arise
Protea Financial Think Outside the Box

Alexandra Preston – Manager

Be part of a company that is going to challenge you and make you think outside the box. Never stop asking questions and learn from the answers you are given. 

Sonja Myburgh – Group accounting manager

Don’t be afraid of the unknown, persevere by leaving your comfort zone behind and when challenges come your way see this as an opportunity for career/personal growth.

Protea Financial Leave Your Comfort Zone
Protea Financial Reflect on How Far You've Come and What Challenges You've Overcome

Jason Wilson – Junior Manager

Always remember to reflect on how far you have come in your career and all the challenges you have had to overcome to get where you are and use this as inspiration for tackling any challenges you come across head on going forward. 

As a thank you to our interview and Protea’s commitment to more diverse and inclusive leaders, Protea will donate to Canine Companions (https://canine.org/). Canine Companions is leading the service dog industry so their clients and their dogs can live with greater independence. They provide service dogs to adults, children and veterans with disabilities and facility dogs to professionals working in healthcare, criminal justice and educational settings. Since our founding in 1975, our dogs and all follow-up services are provided at no cost to our clients.

Independence shouldn’t be limited to those who look or live a certain way. Disability reaches all races, classes and backgrounds, and Canine Companions will too. Clients come to Canine Companions because of our reputation, the quality of our dogs, the experience of our training staff and the desire to lead life with greater independence. We are committed to providing services to all qualified clients. 

Protea Conversations Brings The Protea Family to You

Reach out to The Protea Family for questions, guidance, or just help with the financials of your business. Our experts are here to help!

5 Tips for Improving Your Small Business’s Financial Health

5 Tips for Improving Your Small Business’s Financial Health

Are you a small business owner struggling to keep your finances in check? Do you constantly worry about cash flow, expenses, and profits? You’re not alone. The financial health of a small business is crucial for its survival and growth.

Here at Protea Financial, we have come up with five essential tips that can help improve your small business’s financial health. From managing and tracking expenses to investing in growing your business to increase revenue, these tips are easy to implement and will help you achieve financial stability in no time! So, let’s dive right in!


Track All Business Expenses

It’s important to track all your business expenses to see where your money is going and adjust as needed. This can be done by setting up a simple spreadsheet or using accounting software. Make sure to include all expenses, both big and small, to get an accurate picture of your spending.

Once you have started tracking your expenses, reviewing them regularly is important. This will help you find places within your business where saving money may be possible. It’s also a good idea to compare your current expenses to those from previous months or years to see if there have been any changes in your spending patterns. It also helps you see where money may be wasted if you pay for products or services your business no longer needs.


Spend Some Money on Investments That Will Help You Grow

If you’re not investing in your business, you’re not giving it a chance to grow. Investing in marketing, product or service development, and employee training can seem risky. Still, it will eventually stagnate if you don’t put any money into growing your business.

Consider what investments will help you reach your goals, and then plan to invest some money each month or quarter. You may wait to see results, but over time, these investments will help you build a stronger, more successful business, which leads to increased revenue.

Protea Financial Financial Health of Your Small Business

Set Realistic Goals

If your small business is in financial trouble, setting realistic goals for improving your financial health is important. Otherwise, you could take on more debt than you can handle or make unrealistic cuts that hurt your business in the long run.

Here are some tips for setting realistic goals when trying to improve your small business’s financial health:

  • Make a list of all your expenses and income sources. This will give you a clear picture of where your money is going and coming from.
  • Determine how much you can realistically cut from your expenses without hurting your business. You may need to make tough choices, but being realistic about what you can live without is important.
  • Create a budget and stick to it. Once you know where your money is going, you can set aside funds for specific purposes. Ensure to include a buffer for unexpected expenses so you don’t get overwhelmed if something happens.
  • Make a plan for paying off any debts you have. This may involve getting a consolidation loan or working out a payment plan with creditors. Whatever you do, ensure you can stick to the plan so you don’t end up deeper in debt.
  • Set aside money each month to build up an emergency fund. This will help you cover unexpected expenses without using credit cards or loans.
  • Finally, review your progress regularly and adjust your goals as needed. Your financial plans should change as your business grows and evolves.

By following these steps, you can set realistic goals that will help you improve your small business’s financial health.

Protea Financial Improve the Financial Health of Your Small Business

Regularly Update Your Cash Flow Forecast

Like most small business owners, you don’t have much extra money. That’s why keeping a close eye on your cash flow is important.

One of the best ways to do this is to update your cash flow forecast regularly. This will help you anticipate when you’ll need additional funding and identify potential problems before they become too big to handle.

Here are a few tips for updating your cash flow forecast:

  • Make sure you have accurate financial statements. This includes your income statement, balance sheet, and statement of cash flows. These documents will provide the foundation for your forecast.
  • Use a spreadsheet or accounting software to create your forecast. This will make it easier to track your progress and make changes as needed.
  • Know your historical cash flow patterns. This will help you anticipate future needs and make more accurate projections.
  • Update your forecast regularly. This will ensure that it stays accurate and helps you identify potential problems early on.

Take the time to review this often. You want a solid idea of where your money is, where it is going, where it will be coming from, and how that will impact the future of your business. If you need to look at where your cash flow comes from or how it changes throughout the year, you may miss opportunities to invest more in your business or forget to save money for slower times.


Let Protea Financial Help Improve the Financial Health of Your Small Business

Small business financial health is an important part of success and one that should not be overlooked. Taking the time to review your finances, create a budget, track your spending, and look for opportunities to save and invest money can help ensure that you are in good financial shape.

Hopefully, you always feel like your small business finances are simple enough to understand. Let the team of professionals here at Protea Financial break down the documents and numbers you need to know. Contact Protea Financial today and let us help you improve the financial health of your small business!

Protea Financial Can Help Improve the Financial Health of Your Business

Take the time to learn how to improve the financial health of you small business with the experts here at Protea Financial. We can show you tips and tricks that can improve your bottom line!