Every month, Torquay Online likes to celebrate local business by naming a business man and woman of the month!
“Specialising in small/medium businesses, start-ups & personal taxation, we personally tailor our services to suit your requirements.
Cloud accounting experts & always monitoring new software and technology that could help our clients.
We welcome all types of businesses/ individuals and have good experience of dealing with a large number of clients around Torbay & Newton Abbot.
It is priority to develop & maintain good relationships with our clients so that they are happy to discuss their finances openly, ask any queries big or small & gain trust in our advice and services.”
I recently asked Pete a few questions about his business – here’s what he had to say…
What made you decide to go into business?
After working in practice for 6 years at two very successful firms here in the bay, I decided that I was confident enough in my ability and ready to set up on my own. I love the client relationship side of my job and running my own practice allows me to give the friendly, personal service that I think clients deserve.
What’s the most rewarding part of running your business?
For me it is seeing the results of my advice; seeing clients growing their businesses; increasing their confidence in understanding when discussing their accounts and financial positions and gaining trust in my advice and help in this process.
What’s the most challenging part?
As I’m sure most people would answer at the moment, the pandemic. Accountancy has always been an industry where things change all of the time and every day you have to be ready to learn new things, but with the pandemic, the volume of changes and tax updates has increased exponentially with the introduction of the furlough and other support schemes that have been introduced. I have worked hard to ensure I have been up to date on all the finer details of these schemes so that I have been able to advise clients effectively and in a timely way to ensure they have been able to understand the support systems available to them to stay afloat in these difficult times.
Any plans to expand?
Yes, definitely! I hope to expand to build a small team over the next couple of years. My first step would be to hire an apprentice who is very keen to start a career in accountancy, who shows a passion and keenness to help people foremost. Then I can teach them the methods and knowledge that I have acquired over the years whilst helping them gain a recognised qualification. I would then want to help grow with the practice as it grows with them.
Any advice to someone looking to start their own business?
Be confident in yourself and the product/services you are offering your customers. There will be difficult moments and mistakes will be made but it is learning how to overcome the obstacles that matters most. If you are unsure of anything, speak to friends & family for second opinions, request customer feedback to see if there are areas where your service could be improved and seek professional advice when needed.
Finally, what’s your favourite thing about Torbay?
The community spirit, everyone knows everyone, if not directly then through 1 or 2 other people. I grew up in Kent so that was one big thing I picked up straight away when I moved here, and although I found it odd at first it definitely has its benefits. The support I have received from the community and people close to me whilst setting up PJL Accounts has been amazing and I am very grateful for that.
Thanks so much Pete for answering our questions and congratulations on what you’ve achieved so far!