I am a Chartered Certified Accountant working as a sole practitioner in South Gloucestershire. My background however is in industry, where I worked up until 2005. A bit unusual I guess in the path I've taken, I did an engineering degree (sponsored by a Philips Group company) and worked in production control & engineering before switching career to procurement. I did my CIPS exams, before moving down to an engineering buyer role in Dagenham. With that company I changed career again and started my accountancy training, qualifying in 1995 and gaining fellowship in 2002. My work in industry took me to finance director and eventually managing director. I have experience of business process improvement, working with the Kaizen Institute, and quality systems development & accreditation.

Starting in practice on my own in 2006, with no practice experience and with no clients initially has been a massive learning curve, I feel I'm about a third of the way up! I couldn't believe that ACCA had just ceased their practice orientation courses with no replacement, and offered no form of mentoring or assistance to members making the move out of industry. I did look at taking on a franchise, and could have afforded it at the time, but rejected it as what was available then did not offer a contract I found acceptable (%ges, long tie-in etc). Probably a mistake with hindsight, the systems they offer and the discipline of being at least remotely 'managed' would be of great benefit. I did glean what tips I could though from the franchise organisations I spoke to, and that helped with software selection and marketing approach amongst other things. I outsourced telemarketing, and that worked very well but was expensive. It got me started though, and I wish I'd done it sooner. Pricing was very difficult, and there's no doubt I undersold myself massively.

So, I'm still here, which is an achievement in itself!

I would actually like to find a business partner, local to me, reasonably financially independent, and with a similar service ethos. Quite an elusive beast! I tried taking on staff, and moving to a small office (I'm home based now), but that gave a poor return. Someone to share the risk and the reward, and work with me to build a larger practice is what I need. That doesn't need to be another ACCA, someone QBE or even an experienced bookkeeper would possibly be a good fit. Potential partners with the right circumstances and experience seem to be thin on the ground though, especially in a recession. So, if you know anyone....

I work with two or three bookkeepers, as presently I try to do as little bookkeeping myself as I can. Producing statutory accounts and corporation tax returns for small limited companies, based on good quality trial balances (aren't they hard to find!) is where I pitch myself, with a bonus of providing plain english explanations and business advice drawing on my own experience.

I can see that online is the way to go. I have become a ClearBooks training partner, and have about a dozen clients who use their system. I find it straightforward and effective, and much cheaper than Xero for example. The partner plan licence is £7.50 + VAT per month per company with unlimited users and transactions. I either bill that cost separately (without mark-up), or roll it up in my annual cost depending on the client. It does have it's limitations, in particular the inventory module, but to be fair I think most online systems are weak in that area. If anyone knows a better solution for inventory, margin reporting etc please get in touch, I'd be very interested in trialling it.

-- Edited by Stephen Youngs on Friday 2nd of November 2012 02:13:23 PM

-- Edited by Stephen Youngs on Friday 2nd of November 2012 02:18:36 PM