Real Time Consulting Firm, the first of its kind in the country has proved in a short time to be giant for small and medium business in the country. Set up by two childhood friends whose dreams were set to helping the poor in their own way. One of them studied Accounting and the other studied Law, which when combined gave the country the real blend of RTC Firm. In a situation where accounting firms are on the increase but without law attached makes the RTC Firm unique and a lot to be desired from them. Since their inception as was incorporated in 2008, it has continued and insisted on helping small and medium business helping to transform their business to a more well managed operations. And they believe that these small medium enterprises are the engine of economic growth. The two friends, Katim Touray, the Accountant and Alimami Taal the Lawyer joined forces to make what is now poised to help small and medium business become vibrant through law and business. They both spoke to Augustine Kanjia and this was what they said:
Real Time Consulting Firm, the first of its kind in the country has proved in a short time to be giant for small and medium business in the country. Set up by two childhood friends whose dreams were set to helping the poor in their own way. One of them studied Accounting and the other studied Law, which when combined gave the country the real blend of RTC Firm. In a situation where accounting firms are on the increase but without law attached makes the RTC Firm unique and a lot to be desired from them. Since their inception as was incorporated in 2008, it has continued and insisted on helping small and medium business helping to transform their business to a more well managed operations. And they believe that these small medium enterprises are the engine of economic growth. The two friends, Katim Touray, the Accountant and Alimami Taal the Lawyer joined forces to make what is now poised to help small and medium business become vibrant through law and business. They both spoke to Augustine Kanjia and this was what they said:
S&D: What is the motivating factor behind the setting up of RTC?
Katim & Alimami: RTC means Real Time Consulting Firm. It was incorporated in 2008, a brain - child of two childhood friends, Alimami Taal, (LLM) Legal Practitioner/Director Legal & Business Development, and Katim Touray CEO/Managing partner. The business concept was conceived on the pretext of assisting small and medium business to transform their business to a more well managed operations. These small and medium enterprises are the engine of economic growth.
S&D: Are there constraints you think they small and medium business face that you stepped in to help?
Katim & Alimami: Yes! The biggest constraints they have are finding sources for financial management and legal services RTC is uniquely positioned itself to provide both services under the same business outfit. We believe in involving ourselves in conceiving business idea through the design of cooperate structure to supporting them to access funds to expand their business.
S&D: What do you believe in your business?
Katim & Alimami: We also believe in innovative ideas to take The Gambia business to operate on larger scales to achieve optimal efficiency.
S&D: How have you fared on since your operation?
Katim & Alimami: Prior to setting up this farm, we conducted a kind of a survey and realised that small and medium enterprises need advise and they want to seek for it. Their problem has been the problem of affordability especially in finding source for such advice from consultants, as a result we believe that if we position ourselves to be involved in the clients' business growth in a way that services are provided to them at a cost effective rate.
S&D: What is in hi high demand in this area?
Katim & Alimami: Seeking financial management and legal services is becoming increasing in demand because doing business is progressively becoming formal, such as to meet tax compliance, and access to finance. So far we have dealt with a number of clients and business. More cooperation is required for their suppliers to demonstrate financial and managerial competence and minimum compliance of business rules and regulations.
S&D: Does the RTC have the technical know how to help out?
Katim & Alimami: We are very optimistic that we can provide bridge between the small and medium enterprises and formal business sector. We have the expertise and we have had clients to request such formulations. This is in addition to our core competence as Satisfied Chartered Accountants and auditors and legal advice and representation in one stop. This approach has positioned us uniquely to respond to the advisory and technical services to respond to needs of our small and medium business enterprises.
S&D: Is that your limit?
Katim & Alimami: No! We also have the competence to deliver tailor made and deliver courses in financial management, telecomm regulations and strategy, cooperate governance and advise and company evaluation.
S&D: What does RCT believe in?
Katim & Alimami: We believe Gambia should explore public and private partnership. Up till now development approach has not been mainstreamed and RTC believes that if we can combine public resources and private expertise we can significantly leverage the process.
S&D: How would you get the small and medium and other companies to know what you are capable of doing to help them?
Katim & Alimami: In the coming months and year we expect to partner with small medium enterprises, start up companies and through collaborations incubate and develop business concept and strategies to impact the entrepreneurial development of The Gambia. We believe that the furture economy is the knowledge economy, which requires a lot of research and dissemination.
S&D: With such beautiful ideas for The Gambia, how are you making your firm known and for people to appreciate your services?
Alimami & Katim: We have sent out letters of introduction, our target groups are media houses, all the major Banks, some government departments, we have sent introductory letter, but given the name we feel its not an area where you get up in one day get yourself an auditor or a lawyer, it is a long term and has some trust and unless you put hands in such a business. Unless you come and see or else you will not get it, unless these are done. WE need to get out to people need we would get the intended client base.
S&D: How do you operate?
Alimami & Katim: Simple! Come to the office or we come down to your office if you so desire it. Call us we are there!
S&D: Are you competing with those you met in the field?
Alimami & Katim: Ah! To some extent as it is in a free market RTC provides a unique business. There is no office where you have a lawyer and an accountant except us. It is not a competition as such. If you take a conventional or auditing firm, most of them are very big and are a reality of a business success and naturally they pass that on to their clients who can afford that kind of fee. Big business, costs more than small business to them, this is why RTC is here to help. This is on the accountancy side. If you take a company lawyer they pass on the cost to their clients. We have these two together to meet the needs of their clients. Even the big business would love to have as an alternative and the Banks would have to have us because if they borrow out money they would love to see such from our firm. Competition is inevitable in a free market; it should not be a zero some game. Whoever can do better let him have it. WE believe that the market is wide enough but not as well as it could be served. If there is enough for all it would be the question of finding the business.
S&D: Any advise to small and medium business clients?
Alimami & Katim: Young entrepreneurs can be very enthusiastic when they have business ideas. They want to implement to a business but its always advisable to seek advise and have a complete understanding on how to run a business and to have a long term vision of where they want to take their company. The moment the business idea is conceived, is where the business horizon require them to measure performance accessing fund to expand their business and also potential breach of contract, so as to avoid pitfalls to lead to their premature death. So at RTC we believe in entrepreneurship and therefore we are advising all business owners in The Gambia to come for initial consultation and advise.
S&D: Is there any thing that I did not ask you but it is of importance to let your admirers read about?
Alimami & Katim: It's just the social responsibility. The business grows at the end of the day the society consumes it. So it's wise for the community to be involved. It is very good and important to look at the relations between producers and consumers.
We are encouraging business people to think big, come together, invest heavily in all sectors of the economy and take advantage of skills. To move into partnership and form coperations, at RTC we would be with you throughout the way on the principles: "Onsite, Insight and foresight.
Thank you .
