NATURE OF EXISTING CLIENTS

Existing (and former) clients include:

  • Independent Accountants in the preparation of Trial Balance of client’s accounts
    –  Ainsley Fox Accountants Birmingham
    –  Tania Oxley Accountants Birmingham
    – Siviter Greenfield Accountants
  • Partnership/Company in the Construction Industry
    – Firmingers LLP Worcester
    – Clarke & Jay Surveyors Ltd Worcester
  • Limited Companies in the Recording/Radio station industry
    – The Old Smithy Recording Studio Worcester
    – Sunshine FM Ltd Hereford
    – Murfin Media Ltd Ludlow
  • Local Retail outlets
    – Chocolate Heaven Tewkesbury
    – Radway Bridge Garden Centre Hereford
    – The Bridge Cafe Hereford
  • Local Charities
    – Worcestershire Association of Carers
    – Aston FM Ltd Birmingham
    – South Aston Community Association Ltd Birmingham
  • Manufacturing Businesses
    – Severn Biotech Ltd Kidderminster
    – Smartbox Ltd Malvern
    – Something Different (UK) Ltd Worcester
  • Travel Business
    – Living with the Lions Sports Travel Gloucestershire
  • Sole Traders
    – Landscape Gardener
    – Professional Kitchen Cleaners
    – Gymnasium Owner
    – Financial Advisor
    – Freelance Sales Manager
    – Health & Safety Executive
    – Professional Photographer
  • Limited Companies
    – Priority Hire Ltd (commercial vehicle rentals)
    – Shakespeare Stone Ltd
    – One Works Group Ltd

Our Questions

1 ) When did you realise you wanted to go into business for yourself?

I first went into business for myself in 1977. I was working at the time as a professional musician, conducting orchestras & performing on tour, and realised the need to arrange & publish my own music. This would enable me to collect royalties for the recording & performing of that material. When I made the decision in 2000 to take up Bookkeeping as a profession, I instinctively knew that working for myself would always be a good option, even if it wasn’t the only avenue I would pursue.

2 ) Were you confident you would succeed or were you nervous of failing?

I wasn’t necessarily confident of succeeding, but as my immediate livelihood didn’t depend upon it’s success, I wasn’t worried if it failed. However, as I was initially the main music writer for the publishing company, I knew I would be comfortable in promoting the product. Likewise in Bookkeeping, I had already started the journey of studying, and had passed the first 2 levels of examinations, so I knew I could trust & believe in my own ability.

3 ) Did you seek advice from your family or friends?

I was very fortunate in that my father was my Bank Manager – therefore he was both supportive in giving advice (at any time of the day or night) and also was there if and when I needed help with my cash flow. He also helped me to be realistic in my expectations.

4 ) What was the biggest obstacle you had to face and overcome in order to start your business?

For me (and I think for most people just starting out in business) there are 2 obstacles – firstly getting yourself known out in the market place & secondly, convincing your potential customer(s) that you know what you are doing & can deliver what the customer wants (and needs).

Yes; as a music publisher, a record company wanted to record one of my songs; the album consequently sold over 50,000 copies, and my royalties consequently came into my bank account!! As A bookkeeper, it was the agreement by a Chocolate Shop owner to let me be their Bookkeeper, and I now had one day’s work per month!

5 ) What would be the one thing you would do differently and where do you see your business in five years time?

My first business came to a natural conclusion due to the changes in public demands and requirements – the demise of live orchestras in the UK for recording purposes and the changes which took place within the music industry. As a Bookkeeper, there isn’t anything I would change. Where will my business be in five years’ time? That’s a challenging question, dependent upon the effects of “Making Tax Digital” – a whole new way we will ALL be made to communication with The Inland Revenue. If you haven’t heard yet how these changes will impact upon YOU, it’s never too soon to start talking to someone in the ‘KNOW’ . We will all have to make these changes!!

6 ) What would be your advice to any startup or to anyone thinking of going into business for themselves?

Firstly, understand what will be required of you with regard to your accounts. As I have mentioned above, there are major changes on the way, so start recording them in the correct manner now & save yourself time in the future. If you don’t know how to record your transactions in a digital manner, talk to a qualified Bookkeeper, and get them onboard with yourself; in the long run, they will be more important to you than an Accountant.

Secondly, if you are starting your business from scratch, don’t expect to make a living from it for at least 3 years; if it happens sooner, all the better, but be realistic, it could take that long. If the business is a natural extension of a hobby you’ve done for some time, for instance, it may well become established much sooner. Above all else, you will need to put every ounce of your time and energy into getting it off the ground.

 

We would like to thank David Anfield  for submitting this article for our readers!