Here is a short Q&A with our new member, Navindh Grewal.
What does your business do?
Accountancy business. Provide book keeping, payroll, tax and compliance services.
Who are your customers / What businesses do you typically help?
My clients range from sole practitioners to small SME’s. Typically, the businesses I work with have no finance employees, so I provide them with monthly financial support. My main area of expertise is the Marketing Services sector.
What benefits do you bring to your customers?
My previous roles, before starting my own business, were more operational and commercially focused. I can therefore offer additional services, such as forecasting, budgeting, working capital management etc. This set’s me apart from more traditional book keeping/compliance businesses.
What is your business’s biggest challenge at the moment?
My biggest challenge is generating leads. Having started the business, at the beginning of the year, I have looked to raise awareness of the company. It’s also always a challenge trying to convince companies to switch accountants, even when you mention the benefits described above. For a lot of businesses, they worry about 1. The process of changing accountants 2. The risks of passing it to someone new and young (relatively within the industry). However, this isn’t the case. When we take on new clients we lead the process of transferring the business over and ensure everything has been handed over and explained. We also always look to increase efficiency and availability of management information. As a young accountancy firm, we do this by keeping up to date with the technological developments, and most importantly ensuring that clients have a process/system in place for the upcoming Making Tax Digital (MTD) deadline next year.
Why did you join HEART of business?
For professional development and contribute towards my CPD. To be a part of a network of professional business services. As I look to grow the business I will need support along the way whether that is legal, people or marketing related HOB provides me that support network. Lastly, to generate leads. With a large network of members, I believe there are many opportunities of working with the businesses.
What benefits have you already experienced?
I have only attended 2 HEART of business meetings so far but already I have generated a few leads/businesses.
If you had one piece of advice for business owner’s what would it be?
Not to underestimate the importance of accurate management information to inform decision making.
What are your passions / interest outside of work?
I’m an active person who enjoys sport. I mainly play footfall (Manchester United fan!), and also enjoy tennis and golf. I’m also a keen skier.
Currently I’m supporting my wife on developing her interior design business.
HEART of business is a collaborative business development network, created through membership, teamwork, common goals and values, that help to develop each other and our businesses. We deliver breakthrough results for clients across a wide range of business challenges. For our members, we inspire and deliver personal and business growth, ensuring continuous development and learning.