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Why involve a consultant when your company is young?

Given the risks associated with young companies, business advisory and consulting services are a necessity in helping them mitigate these risks. At MNC Consulting Group, we offer various pro bono services to companies in operation for less than one year.

A Summary of our Pro Bono Servives

  1. Becoming a great Chief Executive Officer (CEO)
  2. Finance and accounting systems setup
  3. Internal controls setup
  4. Budgeting
  5. Tax management
  6. Business strategy formulation
  7. Management advisory

Below is a Detailed analysis of what we offer in each of the above areas

  1. Becoming a great Chief Executive Officer (CEO)

Becoming a great CEO doesn’t happen overnight. CEOs work their way through the ranks and rise to the top thanks to a combination of hard work, perseverance, and traits and qualities that make them top-notch business leaders. At MNC Consulting Group, we guide you through the path to becoming a successful CEO through our model “becoming a great CEO”. The model entails two parts;

Part 1: Making the Grade

This part entails the educative and experience phrase of becoming a CEO. It includes the following steps;

  • Getting educated;
  • Spending extra time learning finances;
  • Making connections and networks early enough;
  • Shoot or aiming for the stars;
  • Staying flexible and
  • Becoming a team leader in the company’s decision making team.

Part 2: Becoming a Great CEO

This part entails the phrase of being a great CEO. It includes the following steps;

  • Understanding your role as a CEO;
  • Integrating the experience gained previously with the current set up;
  • Leading with a vision;
  • Being clear-cut;
  • Staying connected both internally and externally and
  • Embodying strategy and keeping guessing what the future holds.
  1. Finance and Accounting Systems Setup

When a company is at the early stages of development, probably in the first year of operations, it is the right time to setup your accounting function. At this time you to establish the structures that will support your company finances and help define your financial strategy as you grow. At MNC Consulting Group, we assists your enterprise in the following areas;

  • Developing reports that should be generated by your accounting software;
  • Setting up the chart of accounts;
  • Separating personal and business expenses;
  • Keeping records of receipts and invoices;
  • Setting a system to make payments;
  • Setting a payment collection process;
  • Setting up a payroll system and
  • Inventory management.
  1. Internal Controls Setup

Owners of young companies should look critically at their business and examine whether their procedures adequately minimise risks and promote best practices within the firm. A young company has limited resources, and the owners, must be active and vigilant to protect those resources. At MNC Consulting Group, we assist young companies in setting up good internal controls that help you manage resources and make sure operations are efficient and effective.  These internal controls helps a business in;

  • Safeguarding its assets;
  • Ensuring that financial information is accurate and reliable;
  • Ensuring compliance with all financial and operational requirements;
  • Maximising the business potential;
  • Minimising the risk of fraud, error and loss and
  • Achieving the businesses’ objectives;
  1. Budgeting

Budgets are an integral part of running any business efficiently and effectively. They set the parameters within which the company expenditure should lie factoring in the expected income. A budget serves as a road map for building any type of business. During the tender age of the business it is imperative that the owners take the steps necessary to budget and effectively manage the available funds. At MNC Consulting Group, we assist in setting a realistic budget for any company at its early stages which helps entrepreneurs to;

  • Develop the budget;
  • Allocate and reallocate the budget;
  • Implement the budget;
  • Revise the budget and
  • Monitor and evaluate the budget;
  1. Tax Management

At MNC Consulting Group, we provide free tax advisory services to young companies that are less than one year in operations. We assist our clients in;

  • Tax Accounting;
  • Tax planning, compliance, and due diligence reviews;
  • Advise on tax obligations and implications in case of non-compliance;
  • Completion and submission of returns and payment of tax;
  • Maintaining tax records;
  • Transaction structuring and support;
  • Health checks on taxes;
  • Transfer pricing;
  • Evaluation of tax risk exposure and advice on how to mitigate such risks and
  • Handling queries raised by Revenue Authorities.
  1. Business Strategy Formulation

In young enterprises, where most have just enough resources to manage their core business operations, any management decision taken without adequate validation may result in a ripple impact harming its top line and bottom line. At MNC Consulting Group, we understand the requirements an aspiring young business owner has and the principles on which these young companies base their business fundamentals. We assist them through our three-step business strategy formulation process which entails;

Step 1 – Capture the aspirations of the young business owner/entrepreneur/CEO/Director

Step 2 – Align the business aspirations of the owner/entrepreneur/CEO/Director of the company with those of his/her Management team and internal stakeholders.

Step 3 – We benefit the key team immensely by driving the well-intended and derived strategic interventions in Step 2 with external assistance and guidance from us. We commit ourselves to our clients and work closely with their teams to deploy the most suited solutions for their business.

  1. Management Advisory

At MNC Consulting Group we help young companies to boost their effectiveness by improving the way they operate; accelerating their growth; reducing their costs; managing their risks; developing their talent; and changing the way they do business. In doing so, we focus on their goals and objectives and the issues they need to deal with, both today and in the future. We provide our clients with a variety of free management advisory services in the following areas;

  • Financial analysis and management;
  • Strategic management;
  • Business risk management;
  • Inventory management;
  • Profit planning and management;
  • Market research and development;
  • Analysis of redundancies and inefficiencies;
  • Pricing strategies and value addition options;
  • Change implementation and management;
  • Cost reduction and management strategies and
  • Organizational development.

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