
In the competitive world of accounting and financial services, Tumelo Makgakga has forged a unique path. As the founder of FirstPlace Assurance & Advisory, he has taken his expertise and passion for accounting to empower small and medium-sized businesses. His journey reveals a deep commitment to helping others understand their finances and grow sustainably.
The Early Spark of Entrepreneurship
A Calling for Business and Finance
Tumelo’s entrepreneurial spirit ignited early. “I have always known that I would somehow be involved in business,” he says. Even as a student pursuing accounting, he knew a corporate career wouldn’t fulfill him long-term. His journey into entrepreneurship became more defined during his time at one of the Big Four accounting firms. In 2020, driven by a “passion for working with other business owners,” Tumelo took a leap into self-employment, establishing FirstPlace Assurance & Advisory.
From Thohoyandou to Johannesburg: A Path Shaped by Education
Hailing from Thohoyandou in Limpopo, Tumelo’s foundation in business started in high school, where he excelled in commercial subjects. “I found it fascinating and it just resonated with me,” he recalls. After matriculating in 2010, he pursued a BCom in Accounting in Johannesburg, ultimately earning the title of Chartered Accountant. Tumelo credits his education with giving him a strong grasp of business fundamentals, particularly in finance.
FirstPlace Assurance & Advisory: Empowering Businesses
A Tailored Approach to Financial Services
FirstPlace Assurance & Advisory offers an array of services tailored to meet the unique needs of small and medium businesses. As Tumelo explains, “Our solutions are tailored to a niche market/industry and focus on small to medium businesses.” Services include:
- Audit and Assurance
- Monthly Outsourced Accounting
- Advisory Services
- Tax Solutions
These services aim to help clients “organize, understand, and interpret their financial reports” and resolve complex tax issues, ensuring compliance and clarity in business operations.
Building Trust Through Personal Service
Tumelo’s commitment to customer service sets his business apart. FirstPlace Assurance & Advisory offers a free initial consultation, giving clients a chance to discuss their needs and challenges. “We’re here to support businesses by making complex financial matters easier to manage and understand,” he says.
Overcoming Early Challenges
Building a Client Base from Scratch
Starting with no established client base, Tumelo faced the challenge of gaining initial customers. He turned to budget-friendly strategies, such as social media marketing, cold calling, and distributing flyers, to spread the word. “I was very consistent with these, and it helped me get those hard first customers,” he shares. Today, he still relies on this combination of outreach efforts, which continues to bring in new clients.
The Resilience to Keep Going
Despite the common struggles of entrepreneurship, Tumelo has never felt the urge to give up. His unwavering passion for the work he does has been a constant motivator. “My passion for the work I do has fueled me to keep going,” he reflects, underscoring the importance of loving what you do.
Funding and Growth Strategies
A Bootstrap Journey
Tumelo started his business by using his savings to cover initial costs, choosing to bootstrap instead of seeking outside investment. The sales of FirstPlace Assurance & Advisory have since funded its growth, demonstrating Tumelo’s dedication to maintaining control over his venture’s direction and financial health.
Innovative Marketing Approaches
Marketing has been a cornerstone of FirstPlace’s success. Tumelo initially leaned heavily on social media, community radio advertising, and even creative methods like car magnets. “I would also ask clients that come to us for referrals,” he says, emphasizing the power of word-of-mouth as a low-cost growth strategy.
Lessons from the Entrepreneurial Journey
Consistency is Key
Tumelo learned early on that success is built on consistency. “Success comes when you are consistent,” he advises. This principle applies not only to customer service but also to how one handles the daily demands of business. Regardless of market conditions or personal challenges, Tumelo believes that showing up daily is essential to creating a stable, trustworthy brand.
Trust, but Verify
Reflecting on his early experiences, Tumelo advises new entrepreneurs to remain cautious in business dealings. “There are some people who like to take advantage of small businesses,” he warns, emphasizing the need for contracts and deposits. His advice to “always ask for a deposit before starting work” is rooted in his personal experience of protecting his business.
Looking to the Future
A Vision for Expansion and Community Impact
In the next five to ten years, Tumelo envisions FirstPlace Assurance & Advisory as a major player in the industry, contributing to job creation both directly and indirectly. “Our long-term goal is to have a positive impact through creating jobs,” he says, underscoring his commitment to contributing to the economic well-being of his community.
A Legacy of Financial Empowerment
Tumelo hopes his legacy will be one of empowerment, helping businesses make informed financial decisions. “I want our business to help as many businesses to better organize, understand, and interpret their financial reports,” he explains. He also emphasizes the potential of his firm to improve client compliance and tax management, areas that are crucial for sustainable business growth.
Advice for Aspiring Entrepreneurs
For those on the fence about starting a business, Tumelo offers straightforward advice: “Stop aspiring and start becoming.” He emphasizes that the ideal time to start is now. “There will never be a perfect time for you to start,” he shares, a lesson learned from his own journey of leaving a stable job to follow his entrepreneurial ambitions.
Leaving His Mark
Reflecting on his journey, Tumelo’s proudest achievement has been the leap of faith he took in starting his business. “I am enjoying the journey that I am on,” he says. The highs and lows of entrepreneurship have made the experience meaningful and fulfilling.
As FirstPlace Assurance & Advisory continues to grow, Tumelo remains driven by a purpose greater than profit. With his passion for helping clients and dedication to building a resilient business, Tumelo Makgakga’s journey exemplifies what it means to be self-made.
Connect with Tumelo Makgakga

LinkedIn:
Tumelo Makgakga CA (SA), RA | FirstPlace Assurance & Advisory
Contact:
010 596 5902
Website: