Accounting and bookkeeping services

Your business is considering the accounting and bookkeeping services market in the North West province, which has a total recorded government spend of about R45 million. This market is relatively small and not growing, with no year-over-year growth, and is serviced by only 4 suppliers, making it a fairly exclusive space. The market is dominated by larger players, with smaller companies, such as black-owned, women-owned, and youth-owned businesses, receiving a relatively small portion of the spend, at 7.17%, 2.43%, and 1.05% respectively. To break into this market, you'll need to differentiate your business and build relationships with the 12 departments that are buying these services. You should start by researching the specific needs of these departments and tailoring your services to meet their requirements, which could help you secure a foothold in this market.