The Original Small Business Story
Picture this.... We’re in our spare room at home in April 2007. Diligently working on our handful of
first accountancy clients, to whom our aim was to provide a simple service that would give small
businesses exactly what they wanted... excellent service, easy to access and exceptional value for
money.
Our humble abode was where we created purpleaccounts.com. The basis of the service was
efficient use of technology by providing a secure online portal 24/7 for clients to store all their
information and even input data. We would then be able to access their accounts and update them,
with the client able to view them online.
It turned accountancy on its head, as no longer did businesses have to wait a whole year to see
exactly how their business was performing, as accounts are updated in days. No need to purchase
software or even learn how to use it. Our clients also could call us whenever it suited them, as
running a small business is rarely 9-5, so we needed to fit in with that demand for ease of access.
The main benefit to the small business owner of coming to purple was the unlimited access to free
advice and support from a qualified accountant. We have never charged our clients for calling us or
for asking for advice. Something that so many of our clients were afraid of with their previous
provider.
The message spread and within 2 months we had outgrown our tiny spare room. We found small
premises that we could lease for a reasonable rate and so our first office was born.
It became apparent that the venture would work, so we looked for ways to get our brand known by
small businesses UK wide.
So where are we now, you may ask? We have a fantastic small team of professionals, dedicated to
small businesses. We still operate as a small business ourselves, combining oodles of experience and
genuine enthusiasm for our clients’ success.
We have opened the first ‘Purple Small Business Centre’ in the town centre of Douglas, which has
proven to be an instant hit. Other businesses centres are planned as the business grows.
The ultimate reward was the accolade of ‘the best of’ ‘best new business’ 2008. A true achievement
and testament to our dedication and commitment to the small business community.
It has been an amazing adventure so far, albeit very hard work, but isn’t everything in life worth
having, hard work?
David and Helen Parker
Founders and Directors of purpleaccounts.com
Accounting Expertise
CIMA qualified management accountants
Accountancy Services
Accountancy, book keeping, tax and payroll services:
» FREE ongoing advice and support from Chartered Management Accountants
» FREE software (optional)
» Access your accounts online securely 24/7 (optional)
» Accounts updated in days, not just at year end
» NO set up fees
» NO contract tie ins
» Fixed monthly fees
» Brilliant service. We are not 9-5
» Genuine value for money
Top Accounting Tips
How do l choose the right accountant?
Of all the advisers you are likely to encounter when running a small business, a good accountant is
perhaps the most valuable one to have. If your accounts are in order and you are up-to-date with the
business’ financial affairs, you are far likely to be more able to concentrate on building the business.
There is nothing more stressful than feeling behind or not in a position of trust with your accountant, so
here are some tips on choosing the right accountant.
1) Make sure your accountant is fully qualified, and is a member of an approved accountancy body.
Look for the letters ACMA or FCMA after the accountants name if he or she is a chartered
management accountant, ACA or FCA if he or she is a chartered accountant, ACCA or FCCA is he
or she is a chartered certified accountant. These qualifications mean the accountant has gone
through a very rigorous set of exams before qualifying as well as spent several years gaining
practical experience.
2) When you first speak to a prospective accountant, you will know soon enough if you see eye-toeye.
It is important to develop a good relationship and know that your finances are being
handled by someone you trust.
3) Your accountant needs to be easy to get along with and willing to go one step further to deliver
an added value to your business. They should be interested in your business and in the business
world in general. The best accountants are those who are running their accountancy practice as
an SME themselves and can therefore bring this experience to bear in advising you.
4) Make sure your accountant keeps in touch with your business – not just at year end! If you feel
your current accountant no longer meets your requirements for whatever reason, get a new
one.
5) Sometimes your accountant will need to give you tough advice, or tell you that you’re doing
something wrong. They should be able to do this, and you should feel comfortable arguing your
corner so that together you come up with the best result for your business.
6) You should feel comfortable and at ease talking to the accountant about the business and any
problems you may have. Your accountant is a key business partner and should be interested in
helping you to grow your business, therefore they will want any worries resolved sooner rather
than later.
7) Find out how much the accountant charges. Is there a fixed monthly fee to complete all your
requirements, or do hourly fees apply? Compare the fees of several firms, along with the quality
of service they will provide.
8) Check who will actually handle your work. Ensure you are happy to work with this person and
that they can give you and your business the attention it needs as and when you need it.
9) Look for an accountancy firm that is making good use of the latest IT to deliver services more
efficiently to its clients. With the latest secure systems and online servers, many documents
which might previously have taken days to arrive in the post can be exchanged almost
instantaneously online. Use of electronic document management systems also mean that your
queries can be dealt with much more quickly.
10) Select an accountant who can advise you on the right accountancy software should you choose
to do your book-keeping in-house. Check what IT support they can offer in setting up your
internal accounting systems.
Taking into consideration my 10 key tips on choosing the right accountant, l recommend that you
approach at least three accountants and see which one you feel will provide the service which you and
your business requires. Choosing your accountant is a key decision at any stage of your business, so
follow a selection criteria and you will be on the right path. This guideline is my recommendation,
however, feel free to adapt it to your own specific requirements.
If you are considering changing your accountant, or choosing an accountant for the first time, please call
David at Purple Online Accountancy on 0800 612 8988 for a free no obligation chat, or email
david@purpleaccounts.com
Accountancy Jobs
We are currently recruiting experienced book keepers and part/qualified accountants. Please send your CV to our Douglas address, marked for the attention of David Parker.
Accounting Articles
Directions
Our services are primarily on line. WE have offices in the Isle of Man and in Warrington, Cheshire. The flagship purple small business centre offering everything the small business will ever need is in Douglas, with others in the pipeline!
