Accounts and Legal announced as finalist in British Accounting Awards
According to companies house, there are more than 30,000 accounting firms in the UK. So we're very proud to have been announced as finalists for this year's British Accountancy Awards.
One of the features that sets us apart from our competition is that our accounts team is supported by a dedicated group of Business Consultants who typically have a decade's real world managerial experience. Through a process of analysis and evaluation, their job is to bring the accounts process to life, helping our clients cut unnecessary cost and maximise return on investment.
Before we launched last year, we conducted an extensive series of interviews with a range of UK based small businesses. We asked our survey panel three key questions about their current accounting arrangements:
1. Only 10% reported being happy with their current accountant with a significant majority (60%) saying they were dissatisfied with the service they currently received.
2. 90% of participants told us that beyond satisfying their statutory obligations, the accounts process yielded nothing of commercial value whatsoever.
3. 80% of them told us they were desperate for more commercial guidance from their accountant.
So Accounts and Legal was launched with the specific mission to make accountancy useful for small businesses with three key areas of differentiation: an annual Insight Report which turns the statutory accounts into commercially actionable advice designed to help grow the business over the coming year, a team of Commercial Managers with expertise in a specific industry sector and a cost effective HR advice designed to help small business owners deal with the challenges and legal requirements arising from their obligations as employers.
And we're very pleased that this new approach to accountancy has gone down well with our clients. One described one piece of analysis in the Insight report as “worth £35k in cost savings this year alone”, another said “being able to draw on my Commercial Manager's industry experience as well as having confidence that I am complying with my statutory accounting obligations has been hugely helpful”.
The winners of the British Accounting Awards will be announced in November. Fingers crossed.