Ariston Global and Xero Host Event to Equip Accountants and Drive Small Business Growth in South Africa

Johannesburg, South Africa – According to the University of the Western Cape, approximately 70–80% of small businesses in South Africa fail within the first five years due to a lack of advisory support, business planning and efficient technology integration.

In a bid to shift this trajectory, Ariston Global partnered with Xero to host the “Championing Small Businesses through Empowering Accountants” event, bringing together a group of small business owners and advisors at the Guild Restaurant in Steyn City on 22 July 2025.

Suran Moodley, Managing Executive at Ariston Global, opened the event by suggesting that the first thing they should do is strike the word “small” from the morning’s title. “Small businesses may be called ‘small’, but their contribution to South Africa’s economy is anything but,” he said, setting the tone for a session focused on recognising the real power and potential of entrepreneurial ventures.

Considering that the National Development Plan envisions 90% of new jobs in South Africa should be created by SMMEs by 2030 and that, in the 2019/2020 tax year, SMMEs were already responsible for 66% of all new jobs, while very large firms contributed just 14.7%; it’s clear that small businesses are central to the country’s employment future. Not even considering their broader contribution to economic activity, these businesses remain vital drivers of opportunity, resilience and innovation. With the national unemployment rate rising to 32.9% in Q1 2025 from 31.9% in Q4 2024, supporting SMMEs to grow and succeed is not just an economic imperative it should be a national priority.

According to Xero’s State of South African Small Business 2025 Report, published in May this year, there is reason for optimism:

• 83% of SMMEs reported revenue growth in the past year
• 90% are confident about the year ahead
• 45% identified technology as a key factor in their success

A highlight of the morning was a fireside chat facilitated by Xero Senior Account Manager, Eddie Moss, which focused on practical support, mindset shifts and the evolving role of accountants in turning this optimism into sustained growth. The discussion emphasised that confidence alone is not enough; strategic advisory and technology adoption must work hand in hand to support real progress.

Attendees walked away with actionable insights:

• Price for value, not volume: Understanding your cost-to-serve is essential. Undervaluing your service erodes sustainability.
• Work on your business: Accountants are also entrepreneurs and must invest in their own operations; not just serve others.
• Lead technology conversations: Nearly half of SA’s SMMEs credit tech for their recent growth. Accountants must be ready to support adoption and integration.
• Collaboration over competition: The future belongs to those who build ecosystems and share knowledge.

“If you want to go fast, go alone… but to build something sustainable and profitable, you need the right people, partnerships and technology,” said Reginald Pillay, CEO of Ariston Global.

With South African SMMEs showing strong optimism while still facing ongoing risks, events like this reflect a growing shift in mindset. Technology alone is not enough. It must be supported by human insight, clear structure and sound strategy. Accountants who confidently embrace this expanded role will play a key part in building a more resilient and inclusive economy supporting business growth.

“None of us can be everything to everyone, we have to collaborate to succeed sustainably. The greatest fulfilment is in building something that’s bigger than yourself and that’s the kind of business that lasts,” Pillay concluded.