How an Accounting & Bookkeeping Firm Bounced Back Stronger With FBSPL?
Highlights
- Many businesses are on a journey which often results in a sale, realizing all the hard work and investment they’ve made over a number of years.
- This was very much the case with one of our US technology clients.
- The management team were back into start up mode bringing in known resources and using their combined years of knowledge.
- Team FBSPL was able to make introductions to assist them with other requirements – insurance, benefits and a firm of US accountants that would be able to support their new US operations.
Case Summary
Fast forward 3 years to 2020 and the management team were back into start up mode – they were starting the journey again. In addition to setting up the company we were also able to make introductions to assist them with other requirements – insurance, benefits and a firm of US accountants that would be able to support their new US operations. Being able to combine our knowledge in setting up a business with Fusion’s financial and strategic directional expertise has meant that the transition from a start up in the USA to fully trading has been seamless.
The Client
A US technology company which FBSPL looked after since 2020 (and a long-standing relationship that pre-dated that time). We provided them with a full range of accounting services – book-keeping, management accounts, payroll and annual audit. Having supported their high growth journey, with the Group turnover hitting $30m. Tax support and hand holding through the due diligence process saw a successful conclusion of the deal for all involved.
The Challenge
- Fast forward 3 years to 2020 and the management team were back into start up mode – they were starting the journey again! Bringing in known resources and using their combined years of knowledge and experience they wanted to set up an entity, shortly to be followed by entities in the UK and Costa Rica.
- Entrepreneurs that have previously been through start up, growth and eventual exit really understand the importance of getting great advice at the outset and setting themselves up to scale quickly and keep the business future-proof.
The Approach
- In addition to setting up the company we were also able to make introductions to assist them with other requirements – insurance, benefits and a firm of US accountants that would be able to support their new US operations. We work closely with the US accountants to ensure a joined-up approach to support the business with their needs across the different locations.
- Now they are fully trading we are providing a full range of services – book-keeping, management accounts, payroll, and R&D claims.
The Outcome
Being able to combine our knowledge in setting up a business with Fusion’s financial and strategic directional expertise has meant that the transition from a start up in the USA to fully trading has been seamless.
