The Equity Experts Limited may be small, but its ambitions are not. Founded in August 2024 by accountant Rasheka Thomas, the Kingston-based firm caters to Jamaica’s micro and small businesses, many of which struggle with tax compliance and financial planning. Thomas, who developed a love for accounting in high school before pursuing a degree in the field, launched the business to close a gap she saw daily: entrepreneurs and individuals in need of reliable help with everything from tax filing and bookkeeping to opening business accounts.

“We are a business that helps our clients understand the process of being compliant with regard to growing their business financially, for budgeting purposes, and to expand their business,” she explained to the
Jamaica Observer.

Before launching her firm, Thomas spent more than a year in accounting offices, gaining experience in tax preparation and compliance. But underpayment and constant run-arounds left her frustrated. Entrepreneurship, she says, offered independence. She started the business on her own, without the security of a full-time job, targeting Jamaica’s small and medium-sized enterprises to help them get compliant and, in turn, grow. With the first year in business complete, getting traction hasn’t been simple. The Equity Experts operates primarily online, and Thomas admits that trust is the hardest currency to earn when asking clients to hand over sensitive financial information.

“You have to trust someone or be confident in their business for them to let you in,” she told
Sunday Finance.

While it continues to build its reputation marketing online, it posts informational videos to build credibility and reach new clients. Its focus is on dispelling common misconceptions. Too many Jamaicans, Thomas says, underestimate the importance of tax filing until they need a loan.

“They need to file their taxes to be compliant. If they need a business loan or a mortgage, then they have to have a TCC,” she said, referring to the Tax Compliance Certificate required by banks.

Since its opening, the firm has evolved into a one-stop shop, offering tax planning and preparation, financial statements, bookkeeping, assistance with opening business accounts, tax payments, and even driver’s licence renewals. So far, the business has built a client base of over 120 and aims to grow it to more than 2,000 within five years. While the business operates virtually now, The Equity Experts are eyeing a physical Kingston office. In the meantime, as it focuses on building, the strategy, she says, is about reputation first.

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Founder of The Equity Experts Limited Rasheka Thomas has set her sights on transforming tax compliance support for Jamaica’s micro and small businesses..

Rasheka Thomas (right), founder of The Equity Experts Limited, presents a tax compliance certificate to a client..