In an exclusive interview with CanadianSME Small Business Magazine, Caroline Somba, Founder of Topspin Finance, shares why financial clarity is one of the most overlooked growth levers for small and mid-sized businesses. Drawing on her experience across corporate finance and entrepreneurship, Caroline explains how shifting finance from a reactive function to a strategic partner helps founders make better decisions, scale with intention, and lead with confidence—especially during periods of rapid growth and uncertainty.
Interview By Maheen Bari
Caroline Somba is the Founder and Fractional CFO of Topspin Finance, where she partners with small and mid-sized businesses across Canada to bring clarity and structure to their financial decision-making. With over 15 years of experience across corporate finance and advisory roles, she specializes in translating complex financial data into plain language and connecting the numbers to real-world business decisions—such as hiring, expansion, and capital investments. Caroline is known for her practical approach to cash flow management, stress-testing growth decisions, and building the processes and systems that support sustainable scale. Her work helps founders step out of reactive mode and into confident, strategic leadership.
You’ve led finance in both Fortune 500 and fast-growing SMBs. What have been the biggest hurdles in launching Topspin Finance, and what moments made you question the journey—yet decide to keep going?
One of the biggest hurdles was realizing that success in the corporate world doesn’t automatically translate to traction in the small business ecosystem. In corporate, your credibility is often inherited through brand names, titles, and structured networks. When I launched Topspin Finance, I had to rebuild trust from the ground up, this time with founders who don’t speak in acronyms and aren’t impressed by résumés. They care about one thing: Can you help me sleep better at night?
There were certainly moments when I questioned whether I had made the right move and it took humility to step back, listen, and earn my place in the small business world. I had to learn small business language, show up consistently, and prove value in practical, tangible ways.
What kept me going was recognizing the gap that existed. Small business owners rarely get access to the level of financial thinking I had seen in larger organizations, yet the stakes are just as high, if not higher for them personally. When clients told me they finally felt in control of their numbers or confident in their decisions, it reinforced the impact of this work. I wasn’t leaving corporate finance behind but rather I was bringing its discipline, clarity, and rigor to businesses that rarely get access to it. That sense of purpose made the uncertainty worth it and continues to fuel the journey today.
As a fractional CFO, you step into businesses that are often scaling quickly and chaotically. What obstacles have you faced in getting founders to truly trust and adopt finance as a strategic partner rather than an afterthought?
One of the biggest obstacles is that many founders associate finance with restriction, especially on spending rather than enablement. For most small businesses, finance is often something that’s been used reactively mainly for taxes, compliance, or damage control so there’s a natural hesitation to see it as a strategic partner.
Trust doesn’t come from reports; it comes from relevance. Early on, I’ve found that founders disengage when financial conversations feel academic or disconnected from the realities of running the business. My role is to translate the numbers into decisions they’re already making e.g. hiring, pricing, cash flow, and growth trade-offs so finance becomes a tool they use daily, not a function they tolerate during tax time.
Another challenge is helping founders let go of operating purely on gut feel. Many have built successful businesses by moving fast and trusting their gut, so introducing structure can feel like slowing down. The shift happens when they experience clarity which is when finance helps them anticipate issues instead of reacting to them. Once they see that financial discipline actually creates freedom, not friction, finance stops being an afterthought and becomes a true strategic partner.
As a Black woman in finance and entrepreneurship, what unique barriers have you encountered—whether around credibility, access to networks, or being underestimated—and how have you navigated or challenged those dynamics?
As a Black woman AND an immigrant in finance and entrepreneurship, I’ve encountered moments where my credibility was quietly questioned or where I wasn’t immediately seen as the decision-maker in the room. Those moments aren’t always overt, but they show up in subtle ways like assumptions about experience or being overlooked in spaces where access is driven by familiarity and shared backgrounds.
Access to networks has been a challenge, particularly because as a Fractional CFO, I am in the business of trust where referrals and relationships play such a critical role. Early on, I realized that waiting for inclusion wasn’t a strategy. I focused instead on putting my hand up and building my own credibility through consistency and putting my absolute best work for my clients and constantly learning and evolving from the feedback I receive.
When founders see better financial decisions lead to tangible growth, perceptions shift quickly. I’ve also learned to be intentional about the rooms I enter and the ones I help create – mentoring, collaborating, and supporting other underrepresented founders along the way. Challenging these dynamics isn’t about fitting into existing systems; it’s about expanding them so excellence, in all its forms, is recognized and valued.
February is Black History Month. What message would you most like to share with Black entrepreneurs who are building new ventures, especially those who may feel pressure to “play it safe” rather than bet on themselves?
My message would be this: don’t confuse playing it safe with playing small. Many Black entrepreneurs feel pressure to stay within what feels acceptable or proven rather than fully backing their expertise and ambition. That pressure is understandable, but it can quietly cap what’s possible.
Betting on yourself doesn’t mean being reckless but rather being intentional. Build the skill, the structure, and the financial discipline that support your vision so your confidence is rooted in preparation, not hope. You don’t need to shrink your goals to be taken seriously. I’ve learnt that clarity, competence, and consistency speak louder than caution ever will.
Most importantly, remember that your perspective is not a liability; it’s an advantage. The businesses we build, the risks we take, and the standards we set expand what’s possible for those coming after us. Progress happens when we stop asking for permission and start trusting the value we already bring to the table.
For Black founders specifically, what are one or two financial practices you wish more people put in place earlier—and how can having the right finance partner change the trajectory of a growing business?
One financial practice I wish more Black founders put in place early is pricing with intention rather than caution. Too often, pricing is driven by fear of being rejected or undervalued, which leads to thin margins and constant pressure as the business grows. Strong pricing, rooted in true costs and value delivered, creates room to reinvest, hire, and scale sustainably.
The second is building a cash flow lens early, not just a revenue focus. Many founders are generating sales but don’t fully understand timing, margins, or how growth actually impacts cash. Without that visibility, success can still feel fragile.
Having the right finance partner changes the trajectory because it shifts the role of numbers from reporting the past to shaping the future. A true finance partner helps founders anticipate pressure points, make intentional trade-offs, and invest with confidence instead of fear. For growing businesses, that shift from reaction to strategy is often the difference between surviving growth and sustaining it.
Disclaimer:
The views and opinions expressed in this interview are those of the interviewee and do not necessarily reflect the official policy or position of CanadianSME Small Business Magazine. Our platform is dedicated to fostering dialogue and sharing insights that inspire and empower small and medium-sized businesses across Canada.
