Chenda Chhay

Finalist 2008

Chenda Chhay

Your Business Solution
Accounting outsourcing and financial consulting for Cambodian businesses.

In Cambodia, many small businesses and non-governmental organisations (NGOs) lack the resources to set up correct accounting procedures. Many begin their operations without a good bookkeeping system in place, leading to inefficiency and financial transparency issues. Critical decisions are often based on dated or incomplete financial information, undermining the effectiveness of their organisation.
Determined to change all this, Chenda Chhay plans to create Your Business Solution, an accounting firm that meets the needs of NGOs and startups. Chenda has already equipped a number of NGOs with the accounting systems they require to operate efficiently. With over 2,000 registered NGOs in Cambodia, there is a significant demand for this kind of work.

"I was inspired to launch this project because I've seen a growing need for local, quality accounting resources", says Chenda. '"he big accounting firms in Cambodia are too costly for local NGOs and businesses. As their primary focus is audits and taxation, they do not usually offer basic accounting services and training. Your Business Solution will fill this gap by providing inexpensive, customized accounting solutions."

Chenda will regularly visit these organisations in person to monitor their procedures. With her intimate knowledge of local institutions, she is well placed to offer advice that takes account of their specific needs.

Born and educated in Phnom Penh, Chenda drew upon her university background and six years of professional accounting experience to develop her business plan. Your Business Solution will initially provide web-based accounting and financial management consulting to Cambodian companies, expanding its services to international organisations in the long term.