Monday, July 4, 2022

Interview with Emma Simpson, Business Woman and Cheaper Accountant’s Founder

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1- Hello Emma, can you please tell us a bit about yourself?
I am a business woman and the founder of Cheaper Accountant. I am passionate about small businesses and I started an affordable accounting service to allow all small companies across the UK to benefit from value for money and professional accounting expertise. Many accountants are simply far too expensive and this often results in DIY accounts to save costs. I know that small businesses have enough costs to deal with in the early years and I decided to offer something different that was available to all regardless of budget.

2- What are your focus areas and why?
My key focus for the coming twelve months is to continue to grow the Cheaper Accountant brand. I am involved with a number of business ventures but this is my main focus due my underlying passion for small businesses. I love seeing new start-up companies thrive and I always feel proud to help these companies in any way I can.
Cheaper Accountant has experienced significant growth over the last few years and I’m expecting to cement the brand as the number of one choice for small companies. The brand is already well known within the business community and I want to ensure that Cheaper Accountant is the first accountant that all small businesses turn to for their accountancy work.

3- How do you describe “Cheaper Accountant” in few words?
Cheaper Accountant is an affordable, online accounting service that offers a complete accounting package for small businesses across the UK. We offer the same service as any other accountant but at a vastly reduced price.

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4- Where do you think you are making an impact?
We are certainly making an impact within the UK small business sector and this is my main focus demographic. Part of this is re-educating clients about the service we offer and changing the impulsive behavior of turning to a local high street accountant as a first option. Cheaper Accountant has become the first choice accountant for many small companies who seek an accountant online but we would like to do more to ensure that more people are aware of the service we offer.

5- What are some things that most people don’t know about your job?
A lot of people don’t realize that I need to be more than just an accountant. This is actually my minimum needed skill set. For any company offering accounting services within the online environment you need to understand and develop skills in marketing and in particular online marketing and how best to promote the company online. Online marketing is so different to traditional forms of marketing such as television or newspaper adverts, with “search” being the number one tool for potential customers to reach your company.

6- The market is very changing, where do you see yourself in the next 5 years?
I see enormous growth within the online accounting market during the next five years. More and more people are choosing to procure virtually all of the products and services they need online rather than from the high street and I see this trend continuing. This means that I will be more involved with the online marketing of Cheaper Accountant rather than the actual accountancy work. I am sure I will find myself writing more online articles and providing accounting advice and guidance across a greater number of online platforms. I also see a growing need to be more responsive to client needs on a real-time basis. Clients expect a service to be provided without delay when procuring services online and I will need to ensure that the company can continue to provide this level of service as client numbers grow even further.

7- What were some of the biggest challenges you encountered while working on Cheaper Accountant?
One of the greatest challenges I encountered is a perception amongst some people that cheap equates to poor quality. This simply isn’t the case for me and Cheaper Accountant and it has taken time to persuade others of this. We offer the same quality of service as any other more expensive accountant but the fact is that due to our extremely low-cost base we are able to vastly undercut other accountants. We simply drive down our costs to pass these savings onto our clients via reduced fees.

8- What advice can you share with new entrepreneurs when it comes to start-ups accounting?
Don’t go it alone and try and complete all of your accounting work yourself. This is often a choice made to save costs but there are affordable accounting professionals who can help you and your start-up business. Engaging an accountant from the beginning is very beneficial to all small businesses and avoids any late filings and fines and ensures that all of the required records are being maintained from the outset.

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9- What are you most excited about at the moment?
I am extremely excited about continuing to grow Cheaper Accountant and to help more and more small businesses to navigate through their accounting tasks. I am proud of what has been achieved to date but we are now reaching a tipping point where the brand moves into the mainstream market.

10- The last word or final thoughts?
Business is never easy and sometimes we all face setbacks. Never give up and always give your company your full energy and commitment and then you will reach your goals in the end.

To know more about Emma  and her business, connect with her:

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Noelle Elia
Noelle Elia
is a Financial analyst at PSPC. Graduated from Telfer School of Management, Finance/Accounting with interest to Entrepreneurship and New Media.
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