Building the Successful Accounting Practice

Building the Successful Practice
3 November 2016
Bristol and Bath Science Park

Arthur Bailey
WA Bailey / Consultant – Begbies Traynor Group
Arthur has been an elected member of the ICAEW Council since 1998, and is a former Chairman. He is an ICAEW Past President (2014-2015).
Prior to his retirement from professional practice, he was Senior Partner with a top 15 firm of Chartered Accountants. During a career spanning over 30
years he had a wide portfolio of clients including small listed companies and regulated businesses but mainly specialised in private clients and the
SME sector.
In addition to his professional work Arthur held positions within the not for profit sectors of health and education, and currently has a portfolio of non-
executive roles. He is a former Chairman of a Building Society, and is currently Chairman of an Australian mining company which will be listing on the
London Stock Exchange in 2016. In addition he is a Consultant with both Begbies Traynor and Kingston Smith.
During his time on ICAEW Council he has served on several committees, and is a past Chairman of the Audit Committee. He was an elected member
of the ICAEW Board between 2008 and 2015 and is a member of the Nominations Committee. He is a director of CAT Ltd..
Throughout his life, Arthur has lived and worked in North Staffordshire, and in 2003 was the recipient of a Lifetime Achievement Award for his services
to business and the community. He is married, with a daughter who is a lawyer, and a son who is a Chartered Surveyor, both of whom work in London.
Speaker Profile

Ben Swindlehurst
Business Development Consultant, Begbies Traynor / Red Flag Alert
T: 0161 837 1700
E: ben.swindlehurst@begbies-traynor.com
Ben is the Cyber Security Consultant for Begbies Traynor Group & Red Flag Alert LLP. Prior to joining the team
Ben was part of a leading cyber security business, as the Commercial Development Director, primarily charged
with developing the SME Strategy and Cyber Academy for the business. Ben has also been instrumental in the
inception and development of a now well-established and high quality, as well as profitable, Maritime Security
Provider. He has also gained extensive international business and managerial experience within the super yacht
construction and Oil and Gas Industries. Ben’s balance of military and specialist commercial experience proves
invaluable in developing and managing a rapid but careful strategic vision for future growth. During an
accomplished career within the Military Ben specialised in Joint Service Co-ordination and Dynamic Targeting.
Speaker Profile

Stuart Dugdill
Regional Director, Bluefin Professions
T: 0151 207 7828
E: Stuart.Dugdill@bluefingroup.co.uk
Stuart Dugdill is Regional Director for Bluefin Professions for the North of England and is responsible for service
delivery, client retention and new business development across the North.
Stuart has been in the insurance market for over 20 years, mostly as a broker but spent four years as an underwriter
working at AIG.
Bluefin Professions are one of the largest brokers for the accountancy profession in the UK, arranging professional
indemnity insurance on behalf of more than 6,000 firms annually. They are also proud to be appointed by both the
Institute of Chartered Accountants in England and Wales (ICAEW) and the Institute of Chartered Accountants of
Scotland (ICAS) to provide professional indemnity insurance to their members.
Speaker Profile

Neeta Vora (nee Vaitha) ATT
Tax & Business Development Consultant, Croner Tax
T: 0844 728 0181
M:07920017963
Having started her career with a top 10 firm providing tax efficient solutions to high net worth individuals and small
and medium sized businesses, Neeta recently came to CCH via Accountax where she had established an enviable
record in successfully defending IR35 and CIS enquiry cases (and other contentious issues), achieving settlements
with HMRC and avoiding cases being heard at First Tier Tribunal. Neeta also handled a portfolio of clients which
included those within the Construction Industry, Umbrella Companies, Agencies and Limited Company service
providers. Neeta has considerable presentation experience, delivering seminars, providing in-house training to
companies and Accountants on various areas of her expertise (in particular IR35 and employment status). Neeta
also provides representation at First Tier Tribunal.
Speaker Profile

Andrew Dunn
Business Development and Marketing Partner, Begbies Traynor
T: 0161 837 1700
M: 07973 751 174
E: andrew.dunn@begbies-traynor.com
Andrew Dunn is the Business Development and Marketing Partner for Begbies Traynor. A CIM qualified
Marketeer, Andy has specialised in Professional Services sector for more than 20 years.
Speaker Profile

Dennis Taylor
Social Media Manager, Begbies Traynor
T: 01772 202 000
E: dennis.taylor@begbies-traynor.com
Dennis Taylor has been involved in social media for over 7 years now, working alongside a vast range of
businesses from small independents to international brands. Since joining Begbies Traynor in 2014, he
has developed various campaign and project strategies across platforms including LinkedIn, Facebook and
Twitter.
Speaker Profile

Jeff Barber
Partner, BTG Corporate Finance
T: 0161 837 1800
M: 07740 213 767
E: jeff.barber@btg-corporatefinance.com
Jeff has 30 years experience in corporate finance, during which time he has advised on a broad range of industry
sectors and transactions ranging from start ups to £100m+ MBOs.
Jeff joined BTG Corporate Finance in 2006, bringing with him a specialist team, who now concentrate on
acquisitions, disposals, MBOs/MBIs & raising development capital, predominantly in the owner managed SME
sector. He has also completed in excess of 20 deals in the last few years, involving business angel investment.
Speaker Profile

John Holland
Managing Director, Holland Bendelow Consulting Group
T: 0845 1223415
E: john@hbcg.co.uk
John has over 20 years experience advising companies about stock market flotation. He spent 11 years in senior
roles at The London Stock Exchange, including heading the UK Regional operations, responsible for AIM and the
Main Market. He also headed the London Stock Exchange Regional Advisory Groups which help to formulate
future strategy of the UK Stock Markets.
Holland Bendelow was launched in 2006 and has since become one of the UK’s leading flotation consultancies,
advising UK and non UK companies on flotations and fundraisings on the UK Stock Markets.
Speaker Profile

Welcome and Introduction
Arthur Bailey
WA Bailey

The Changing Practice:
An Outline of Future threats and opportunities all practices face
Arthur Bailey
Consultant Begbies Traynor Group

The Changing Practice
• Number 1 Trusted Business Advisor
• Not all accountants are good at giving advice
• Most very good at compliance
– Accounts preparation
– Audit
– Tax

• Changing Profession
• “Sleepwalking towards a cliff”
• Future “hangs in the balance”
• Relevance of current services
• Business – what will be the needs in 5-10-15 years?
• How will services be delivered?

• Tomorrow’s Practice – ICAEW 2014
• Recognition of
– Higher Audit Thresholds
– Increasing regulation
– Fast changing technology
– More intense competition
• Key Finding – ADVICE is the future

• Business needs are changing
• Advice centred service
• Proactive professional advisors
• Advisors who understand the business
• Advisors who understand the risks business faces
• Advisors who can assist business in its growth

• Threats?
• Failure to accept that changes are happening
• Failure to respond to changes

• Opportunities ?
• Skills
• New Service Lines
– Assurance Products
– Legal services
• New ways of delivery
• Alliances/referral networks – supplement in-house skills

• Tomorrow’s Practice?
• Client led not product led
• Understanding clients’ needs
• Deliver holistic, imaginative advice and support
• Embrace change
• Take advantage of opportunities

Managing Risk: Cyber Risk
Practical Steps you can take to minimise your exposure
Ben Swindlehurst
Business Development Consultant

Context
• Every day, all around the Globe, thousands of IT systems are compromised
• All businesses rely on the internet, which brings immeasurable benefits
• We cannot escape the fact that it also brings new risks

Misconceptions
“We/I are not a target …..”
“We don’t need to worry about internal security, we are only worried about outside
hackers ……..”

Threats
• Cyber Criminals
• Industrial Competition & Foreign Intelligence Services
• Hackers
• Hacktivists
• Employees

Risks to Your Business
• Financial loss
• Reputational loss
• Fraud & Theft
• Legal & Regulatory Compliance
• Best practices and good business approach
• Commercial advantage

10 Step Guide to Cyber Security
• Home & Mobile Working
• User Education and Awareness
• Incident Management
• Information Risk Management Regime
• Managing User Privileges
• Removable Media Controls
• Monitoring
• Secure Configuration
• Malware Protection
• Network Security

Cyber Essentials Scheme
• Cyber Essentials
• Boundary Firewalls and internet gateways;
• Secure Configuration;
• User Access Control;
• Malware Protection;
• Patch Management;
• Cyber Essentials Plus
• Internal & External Independent Testing

Testing
• Vulnerability Assessments/Scans
• Penetration Testing
• Red Team Testing

Top Tips
• Password Controls
• Education & Communication
• HR Procedures
• Data & Access Controls
• Payment Procedures

Don’t Forget the Human Threat

Managing risk: an insurer's tale
How to avoid PI disasters

Introduction
• Speaker
• Why risk management should be at the heart of what we
do?
• Assessing the risk – how claims often arise, their impact and
avoiding them if you can
• New threats – cyber risks
• Your PII policy – the devil’s in the detail
• Examples from the front line
• Conclusion

“I’m afraid there is no money” – the letter I will regret
forever

Lawyer accused of sexism after complimenting barrister on
‘stunning’ LinkedIn picture
• “I appreciate that this is probably horrendously politically
incorrect but that is a stunning picture. You definitely win the
prize for the best LinkedIn picture I have ever seen.
• “Unacceptable and misogynistic behaviour. Think twice
before sending another woman (half your age) such a sexist
message”

Risk management
• “It’s all about box-ticking”
• “It’s admin”
• “It stops me doing my job”
• 101.1 code of ethics:
“Acting in the public interest involves having regard to the
legitimate interests of clients, government, financial institutions,
employers, employees, investors, the business and financial
community and others who rely upon the objectivity and integrity
of the accounting profession to support the propriety and orderly
functioning of commerce”

Risk management
• 102 code of ethics:
“Identify threats to compliance with the fundamental principles:
• Evaluate the significance of the threats identified; and
• Apply safeguards, when necessary, to eliminate the threats or
reduce them to an acceptable level.
• Effective risk management is about eliminating the risks you
absolutely have to avoid like regulatory breaches, managing
those risks you’d prefer to avoid – like negligence claims and
living with risks you need to take to run your firm and make a
profit.”

Assessing the risk
The importance of considering your exposure to risk
• Your time and money
• Notification to broker, files recovered and reviewed 2-3 days
• Initial correspondence and meetings with insurers and solicitors 2-3 days
• Preparation of witness statements and information gathering 1-2 days
• Liaison with expert 1-2 days
• Preparation for trial / mediation 1 day
• Trial 3 days
Total 10 days
(If you’re lucky!)

Assessing the risk
• Plus stress time

Reducing your risk of claims
• Issue engagement letters and follow them
• Confirm all new instructions in writing and keep the client
advised of the costs
• Record and follow up all advice in writing
• Keep clear notes of all key meetings and conversations
• Ensure your own diary system is kept up to date
• Advise clients of the risks if they do not meet deadlines
• Keep up to date with new developments and trends in your
area of expertise

Reducing your risk of claims
• Don’t advise on subjects you are not familiar with
• Don’t get too close to your clients and vet new clients
• File audits and peer reviews
• Financial controls
• Conflicts

Cyber crime and document loss
• IT security and physical security of premises
• Work policies – internet use, working from home, memory
sticks
• Document disposal
• Business continuity

A PI policy explained
ICAEW minimum approved policy wording
• What does it cover?
• Civil liability
• Awards by Ombudsmen
• Defence costs
• Who is “the insured”?
• Each and all of the following persons:
• The firm
• The current and former partners, directors or members of the
firm (including consultants)
• Any person who is or has been under a contract of service with
the firm

• What is a claim?
“any written or oral demand for compensation or damages from,
or the assertion of a right against, any Insured and shall be
deemed to include any complaint or reference to any
Ombudsman which arises out of the conduct of Professional
Business carried on by, or on behalf of, the Insured.”

• What is professional business?
“…advice given or services provided of whatsoever nature by or
on behalf of the Insured to a third party, wherever or by
whomsoever given or provided irrespective of whether or not a
fee is charged, but provided that if a fee is charged in respect of
such advice or service then that fee is taken into account in
ascertaining the income of the Firm”
• What limit of indemnity is required?
• £1.5 million for a single claim or for a number of claims up to
that amount. A limit for “each and every claim” may also be
available.

• Notification
• Important! But why?
• When?
• Notice to be given, in writing, “as soon as reasonably practicable and in any event not later than 7
days after the end of the period of insurance”
• What?
• Any claim
• The receipt by the insured during the period of insurance of any notice from any person of an
intention to make a claim
• The discovery during the period of insurance of reasonable cause for suspicion of dishonesty or
fraud on the part of any former or present Insured whether giving rise to a claim or not

• What? (cont)
• Any circumstance which may give rise to a claim. Any claim arising from a notified circumstance
shall be deemed to have been first made in the period of insurance.
• Circumstances can be difficult
• There is no universally accepted definition of a circumstance
• Recognising them is not always easy (although hindsight often suggests
that they were more obvious than they actually were at the time)
• Quiz
• If in doubt, set it out!
• Beware errors or mistakes which are not yet known to the client!

• Conduct of a claim
• Do not admit liability or settle any claim without the written
consent of insurers.
• Do not incur any costs of expenses without the written consent
of insurers.

Examples from the front line
• Arrowhead Capital Finance v KPMG [2012] – High Court,
QBD – Commercial Court
• Hossein Mehjoo v Harben Barker [2014] – Court of Appeal
• (1) Swynson Ltd (2) Michael Hunt v Lowick Rose LLP [2014]
– High Court, Chancery Division
• Cases from the cabinet

Rogues’ gallery
• Beware what you commit to writing and resist the urge to
use notes as a form of confessional. Make the right sort of
notes…

Summary
• Risk management and compliance is a necessary and
unavoidable cost of doing business – embrace it.
• We get through the day without constant mishap through
being organised, skilled and properly managed.
• Control the controllables – focus on all the small things we
can and do get right.

Building Your Practice:
Success Starts Here – manage your employees effectively to be
more successful
Neeta (nee Vaitha)
Croner Tax

Seminar September 2016 I Croner Tax
• Neeta Vora (nee Vaitha) ATT
• Tel: 0844 728 0120/07920 017
963
• Email:
neeta.vaitha@cronertax.com
Tax Matters

Agenda
• IR35
• Employment Status
• Recent Developments
• Intermediaries Legislation
• HMRC’s approach

The Basics
• There is no statutory test for self-employment
• Status Test
• Case Law- Ready Mixed Concrete (South East) Ltd v Minister
of Pensions and National Insurance [1968]
• IR35- Status Test used on a hypothetical contract

The Essential Mix
Fundamentals- Employment Status
Control
Personal
Service
Mutuality
of
Obligations

Fundamentals
Personal Service
• Is the individual obliged to personally carry out the work?
Control
• Is the individual subject to the control of the engager as to the
manner in which the services are provided?
Mutuality of Obligations (MOO)
• Is there an obligation for work to be offered and for this to be
carried out? This test goes beyond an offer and acceptance

Fundamentals
• 3 yes’s required for employment
• If any one is missing, there is no employment
• Fundamental factors need to be considered first
• Secondary factors- in business factors

Personal Service
• The test to consider is whether or not there is a requirement
for personal service
• Substitution- NOT the test to consider
• HMRC’s approach- to consider whether or not a substitute
has been used
• The factor to consider is whether or not a genuine right to
provide a substitute which is not overly restricted exists

Control
• What, where when does not matter
• The factor to consider is “How”
• Is there a right to control over the manner in which the work is
carried out?
• Has control been exercised over the manner in which the work
is carried out?
• Where we stand with Regulatory Requirements
• Misconception about lawful requirements

Mutuality of Obligations (MOO)
• HMRC’s misconception- it is not wage for work
• CAUTION- Tribunal uncertainty
What should be considered:
Is there an obligation for work to be offered and for this to be
accepted; and when it has been accepted, is there an obligation
for continuous work to be offered and for this to be carried out
during the currency of the contract?
• Expectation
• Importance to renew contracts regularly
• Notice period

IR35
END CLIENT
ENGAGER
LIMITED COMPANY
(PSC)
HMRC will disregard
the contract between
the Engager and the
PSC. Instead, a
hypothetical contract
will be created with the
end client; to establish
if an employer
employee relationship
would exist if services
were provided directly
to the end client by the
individual.

The Future of IR35- Impact on Public
Sector Contracts
• Change effective from April 2017
• HMRC’s Consultation on IR35- Closing date for comments
is 18 August 2016
• Shifting responsibility of applying IR35 from PSC to the party
who pays the PSC
• Shift of risk and clearances required
• If Tax and NI operated by the party who pays the PSC,
expenses restricted to those available to employees (T & S
Relief lost)

The Future of IR35
• Uncertain times for personal service companies
• Abolition of Class 2 NI (from April 2018)
• Changes in the taxation of dividend payments
• Travel and Subsistence
• Intermediaries Legislation
• HMRC are now pursuing those caught by the Managed
Service Companies (MSC)Legislation
• Who is impacted by the MSC Legislation
• HMRC’s first win at FTT (Christianuyi Ltd & Ors [2016] TC
05045)

Employment Status Consultation
• The office of tax simplification wanted ‘quick wins’
• Intention is to provide taxpayers with better clarity
• Improve guidance available
• Achieve a quicker outcome
• Employment status indicator is here to stay- they want to
introduce more than one
• Harmonisation of tax and national insurance
• Removal of Categorisation Regulations
• ‘De-Minimis’ rule
• Consideration of employment law
• ESC A37- talks to put this into legislation to provide extra
certainty

Contracts
• Important to have written contracts in
place
• Are they implemented correctly?
• Correspondence
• Do they reflect the reality?
• Prevention is better than a cure
• HMRC’s fishing expedition- Personal
Service Companies and the self-
employed on HMRC’s radar

Contract Review Service
• Why is it beneficial?
• Avoiding reliance on HMRC and why
• What we offer:
- Detailed opinion
- We do not sit on the fence or give a basic
yes or no answer
- Help improve your client’s position
- Our fee: Currently £199 plus VAT for existing clients

QUESTIONS

Onshore and Offshore Intermediaries

Current Rules- From April 2014
Compan
y A
End
Client
Client B
If Company A provides a Worker
to Client B
And
The Worker is required to provide
services personally
And
The Worker is subjected to (or
there is a right of ) supervision,
direction or control as to the
manner in which it provides
services
Then
Company A is a ‘deemed agency’
and must operate PAYE and NI on
all payments made to the worker.

Offshore Intermediaries- How the new
rules work
• Test is the same
But
• The liability falls on the last onshore intermediary before the
client
• Special rules for Oil and Gas Industry (not automatically
caught)

The Big Change
• Section 44-47 ITEPA 2003 (amended by FA 2014)
• The test has changed
• New Transfer of Debt Provisions
• Fraudulent Documents
• Targeted anti-avoidance rules

Exemptions- The Only Defence
The Agency Legislation does not apply if:
A) it is shown that the manner in which the worker
provides the service is not subjected (or to the right of)
supervision, direction or control by any person, or
B) Remuneration receivable by the worker in consequence
of providing the services constitutes employment income of
the worker

Personal Service Companies
• No requirement for ‘deemed agency’ to operate Pay As You
Earn and National Insurance
If
• Salary (operating Pay As You Earn)
• Genuine Dividends
Why
• PAYE already operated on salary element- exemption
• Genuine Dividends- not in consequence of any particular
contract
But
• Reporting requirement will still exist

Reporting Requirements

Who must report?
• Intermediary who has contract with the end client
• Must provide workers details and payment details for workers
where intermediary has not operated PAYE. This includes
overseas workers and payments where the worker is working on
temporary contracts abroad
• Payments to personal service companies must also be included
• Those operating CIS are not exempt from these rules
• Remember- it refers to any payments made as a consequence of
the contract between the intermediary and the end client. It
includes scenarios where payments are made to third parties

Personal Service Companies
• Personal Service Companies who provide a substitute or
subcontract work may be caught by these requirements
• A one size fits all approach cannot be used, need to assess
case by case

Penalties
• Penalties are likely to be high
• HMRC will not issue notices for returns to be filed
Penalty Regime for late filing or failure to file
£250 for 1st failure
£500 for 2nd failure
£1000 for 3rd or further failures
In a 12 month period

Incorrect or Incomplete Returns
• No consistency with penalty regime
• HMRC has stated that they will issue penalties on a case by
case basis
• Uncertainty for all

HMRC’s Approach
• HMRC’s letters fishing for information
• HMRC recruitment campaign
• How HMRC will be using information held

HMRC ENQUIRIES

HMRC’S APPROACH
• Are HMRC within their remit to ask for the information
requested?
• Too much reliance on HMRC guidance. Remember, this is not
the law
• Do not be afraid to question HMRC
• Requesting information from a third party
• Meeting with HMRC and protecting the taxpayers’ position

Delegate Information
• The speakers are not providing any kind of advice (in their
presentations or the accompanying notes) and no reliance
whatsoever should be placed upon anything which they say. Advice
must be obtained on a proper basis before adopting any course of
action discussed by the speaker.

Building Your Practice:
Growth Strategy / Target Identification
Andrew Dunn
Partner
Begbies Traynor

Agenda
• Market dynamics
• Client profile
• Preventing client loss
• Practice differentiation
• New client targeting
• Contact strategies
• Summary

Market Dynamics
Competition
20,000 + Accountancy Practices in UK.
Opportunities
New Company Incorporations (000’s)
2010/11 2011/12 2012/13 2013/14 2014/15
396.4 455.7 482.4 533.1 585.8
Trends
Compliance offering very price sensitive
Increasing expectations from clients
Increasing role of business advisors

Marketing Focus
Existing Client Growth/Retention
Vs
New Client Targeting

“It costs 6-7 times more to
acquire a new client
than retain an existing one”
Source: Bain & Company

Client Profile
• 80:20/Pareto
• KYC
• Client analysis;
– What services do they “buy” from you ?
– What additional services could you “sell” to them ?
– What services do they require that you can’t provide ?
• Provides clarity & insight to your DM
• Probability of selling to an existing client; 60% – 70%
• Probability of selling to a prospect; 5% - 20%

Preventing Client Loss
• “A client is 4 times more likely to defect to a competitor if the
problem is service rather than price related” Bain & Company
• Limited time - principal focus - high value clients (20%)
• Review skill gaps – problem with growing/ambitious companies
• Analyse/Amend your “relationship ladder”
• Speak to client about your performance
– Third party involvement
• Don’t be afraid to change staff if a relationship issue

Differentiating Your Practice
• Accountants v Business Advisors
• Think carefully about selling on price
• “55% of clients would pay extra to guarantee a better service” (Defaqto)
• Added value as a differentiator
– Competitor/Sector intelligence
– Sounding board for new ideas
– Technical Updates/Insights
– Cross selling opportunities within existing client base

Audit Your Marketing Capabilities
• Be honest !
• What have you the time/budget to undertake ?
• What has worked, and more importantly, what has not worked ?
• What key messages do you promote ?
• Who are your best networkers ?

New Client Targeting
• Be realistic
• Discuss targets internally
• Allocate responsibility widely
• Target research:
• Company name, sector, KDM’s, news/issues, advisors
• KDM’s: Position, alumni, interests
• The fit to your practice
• LinkedIn
• Third party data sources

Contact Strategies
What to Consider
• Push vs pull
• Face to face interaction always the best – time intensive
• Create a matrix of meetings and events – allocate responsibility
• LinkedIn: Leverage second level relationships
• Invest in your website
• Bespoke direct mail – tailored content, not mass market
– Think 10’s not 100’s
– Approach based on intelligence
• Selective outbound telemarketing
• Seminars – targeted content

Summary
• Growing Incorporations present opportunities
• Existing clients should be priority
• Consider a formal client feedback programme
• Be honest about your marketing capabilities
• Implement a selective targeting programme
• Allocate team responsibility
• Carefully differentiate your practice

Building Your Practice
Winning Work Online
Dennis Taylor
Social Media Manager
Begbies Traynor

Agenda
• The search engine landscape
• Localised pay per click (PPC)
• Website usability – Top 10 tips
• SEO (Search engine optimisation) and Content
• Advantages of Social Media
• LinkedIn
• Twitter
• Pay to Play?
• Social Media Tips

Google Search Results – Pre 2013

Google Search Results – 2016

Top Half of Google Search
Pay Per Click adverts (PPC)

Lower Half of Search Engine
Google Local Listings
(Google my Business)
Organic Listings

PPC Target Method 1
Keyword targeted – with local intent in the search
e.g. Accountants Bristol,
Accountants in Bristol, Bristol based accountants,
Chartered accountants Bristol
Xero accountants Bristol, Kashflow accountants Bristol
Sage accountants Bristol
Need accountant in Bristol

Target Method 2
Keyword targeted – with NO local intent but within Bristol area
e.g. Xero Accountants,
Sage Accountants, quick books accountants
chartered accountants,
small business accountants
business growth accountants
tax accountants
find an accountant

Target Method 2
Main software company
Example advert
Bristol based
Bristol based

Top Tip
• If you do speak with an Google Adwords representative or
Bing Ads consultant, do not forget they don't know your
business like you do, so be vigilant.

Website Usability – Top 10 Tips
• Responsive design – does your website render to mobile/tablet?
Does it function correctly? Do the assets of your website stack
correctly?
• Branding Logo font colours – be consistent
• Eye catching imagery – be selective with stock imagery, use your
own if you can, conversion usually increases – no more lighthouses
• Clear uncluttered navigation – try not to throw too many tennis
balls at once
• Prominent phone number and contact details

Website Usability
• Punchy persuasive headlines – Feature your USPs and Benefits
• Important information ‘above the fold’ – on average less that 25%
of visitors do not scroll
• Content promotion – blogs, downloads, newsletters (to follow) and
internally link them to your main service pages (good for seo)
• Strong calls to action – These are text graphics that encourage
your website visitors to take an action
• Trust indicators – accreditations, awards, guarantees, testimonials
– look at websites outside of your own industries for inspiration

SEO and Content
• Use keyword research to decide what to write about
• Confirm you have a service page for each service you offer, more
chance of traffic
• Useful informative content – if you have a blog then that is an
opportunity for you to talk about your product and services and the
issues around them. E.g. Xero vs Kashflow and the advantages of
both or Do I still need an accountant if I use Xero?
• Promote your content to your social network and even pay per click

SEO and Content
• Submit to your local directories such as Yell, Thomson Local,
specific localised directories
• Request reviews from your current clients - example Russell Smith
Accountant Leeds. Note: 5 reviews or more to show stars.
• Consider remarketing to your website visitors - maybe to promote
an event, or a new service. Build an audience of website visitors

References
• https://www.google.co.uk/adwords (Google adverts)
• https://www.google.com/webmasters/tools/ (website performance)
• https://www.google.co.uk/analytics/ (statistical dashboard)
• https://adwords.google.co.uk/KeywordPlanner (keyword search tool)
• https://ubersuggest.io/ (keyword search tool around Google
suggest)
• https://bingads.microsoft.com (Bing and Yahoo adverts)
• http://feedbackarmy.com (text based feedback about your website)
https://www.usertesting.com/ (video analysis of your website)

References
• https://www.screamingfrog.co.uk/ (technical onsite tool)
• https://www.infinitycloud.com/ - call tracking (incl PPC tracking)
• https://www.responsetap.com/ - call tracking

Advantages of Social Media
• Increases exposure
• Increases website traffic
• Loyal fans/customers
• Generates leads
• Improves search engine optimization
• Growing business partnerships
• Improves sales
• Demonstrates expertise
• Communicate personality
• Customer service

LinkedIn
• Sourcing directors of local business (sector specific?).

Twitter
• People are searching for your services right now.

Top Ten Social Media Tips
• Keep social media platforms updated
• Adding a professional picture on LinkedIn makes you 14 times more
likely to be found
• Start an employee advocacy campaign
• Tweets that have an image receive more ‘favs’, ‘likes’ and 150% more
retweets
• Promote key content through paid (sponsored) social media
• Share links to your social media channels on your site, in email
signatures, literature/business cards etc
• Engage in Twitter #hours
• Search your own business
• Create CTA alongside branded imagery

Top Ten Social Media Tips
• Reach out to ‘influencers’

References
• https://www.google.co.uk/adwords (Google adverts)
• https://www.google.com/webmasters/tools/ (website performance)
• https://www.google.co.uk/analytics/ (statistical dashboard)
• https://adwords.google.co.uk/KeywordPlanner (keyword search tool)
• https://ubersuggest.io/ (keyword search tool around Google suggest)
• https://bingads.microsoft.com (Bing and Yahoo adverts)
• http://feedbackarmy.com (text based feedback about your website)
https://www.usertesting.com/ (video analysis of your website)

Funding for Growth Clients
Jeff Barber
Partner
BTG Corporate Finance

Sources of Finance currently available to Businesses
• Asset based lending
• EFG Loan, NLGS, Regional
Growth Fund etc
• Cashflow lending
• Mezzanine funding
• Risk capital
– Institutional VC’s
– European/Government funds
– Private funds
– High net worths
– Crowd funding
• Grants/Soft Loans
• Corporate Venturing/JV’s

• Management strength
• Track record
• Underlying profitability & cash generation
• Well defined business plan
• Security
Key Requirements in accessing finance

• Investment levels
• Motivation for investment
• Tax relief – EIS, SEIS etc
• Added value
Angels/HNW’s

• Options and choosing the right platform
• Investment types:
– Equity
– Loans
– Donations
• Funding levels
• Success rate
Crowd Funding

• Accelerate growth
• Solve a problem/strengthen business
• Improve profitability
• Arbitrage
• Succession/assist exit
Why look at Acquisitions?

• Proactive not reactive
• Plan
– Manpower
– Funding
– Systems and controls
– Culture
– Doesn’t go to plan
The Right Target

Stock Market flotation
Helping your clients
assess the options
John Holland

Holland Bendelow
• Senior Managers from the
London Stock Exchange
• Over 60 years combined
experience
• Independent consultancy
• Not business sector specific
• Clients range from start ups
to £1b market cap
• 3 months to 3 years away
from a flotation
• 50/50 split UK and non UK
clients
• Companies, Universities,
Venture Capitalists

The decision to float
• Capital for organic
growth
• Capital for acquisitions
• Shares as currency
• Enhance profile
• Add credibility
• Exit strategy
• Incentivise employees
“I w a n t to r a ise
fu n d in g a n d still sta y
in co n tr o l o f m y
b u sin ess’’
“ T h e b a n ks w ill n o t
su p p o r t o u r g r o w th ”

Is your client right for a public
market?
• Current & future ownership aspirations
• Management
• Operations
• Financials

Why choose London Stock
markets?
Regulation and trading
• Regarded as the best
regulated
• Provides investor confidence
• International reputation
• Robust trading platforms
Fundraising
• Deep pools of investment
capital
• More SME funding in London
than rest of Europe
• Further fundraisings once
listed

Which Stock Market?
Main Market
(premium)
Main Market
(standard)
AIM
ICAP-ISDX
(Growth Market)
For larger companies
Less onerous entry requirements
Most successful growth market
in the world
Low cost market for smaller
companies

Your clients first steps(feasibility stage)
• Valuation ranges
• Fundraising capacity
• Funding required
• Use of proceeds
• Timing & costs

What is the market looking for?
• Strong management
team
• Existing revenues
• Visibility of future
earnings
• Growth potential
• Barriers to entry
• Management systems

Pre flotation
• Fishing equipment retailer
• Base in Rotherham
• T/O £3.4m
• PTP £1.5m
• 6 stores in North England
• Started process July 2014
Post flotation
• Joined AIM in June 2015
• Market value £3.6m
• Raised £1.5m
• Share price £0.15p
• Raised £0.5m December 2015
• Raised £3.75m June 2016
• 10 stores and ecommerce
platform
• Current market value £15.5m

Top tips for a successful flotation
• Start planning early
• Feasibility exercise
first
• Think BIG
• Timetable for client’s
needs
• Additional resources
• Short term value vs
long term gains
• Marketing
opportunities

Holland Bendelow
New Broad Street House
New Broad Street
London
EC2M 1NH
t: 0845 1223415
e: info@hbcg.co.uk
w: www.hbcg.co.uk
Princess Square
Leeds
LS1 4HY

Building the Successful Accounting Practice

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Andere mochten auch

Andere mochten auch (14)

Ähnlich wie Building the Successful Accounting Practice

Ähnlich wie Building the Successful Accounting Practice (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

Building the Successful Accounting Practice