The Power of Partnerships
When John Mayhew and Stephen Bunting established Fiscale in February 2014 they were starting from a zero client base. In just two and a half years they have secured over 135 new clients and demand for their specialist Research and Development (R&D) Tax Credit services continues to grow.
What is driving growth?
Although more businesses are becoming aware of R&D Tax Credit there is still a tremendous amount of misconception and distrust. Many of the business owners that we speak with think that there must be a catch because the whole scheme "sounds too good to be true". Others cannot believe that they are eligible because they do not wear white coats and have not invented anything. It is fair to say that business owners are not yet beating a path to our door of their own accord!
The growth is being driven through four channels:-
- The sales and marketing activities carried out by Fiscale
- Referrals from satisfied clients who are happy to recommend Fiscale within their circle of influence. Our clients have recommended us to their family members, friends, suppliers, even their competitors!
- Franchisees - Fiscale plans a network of 12 Franchised business acquiring new business with all technical work managed centrally
- Referrals from a network of professional service providers including business advisors and consultants, banks and accountancy firms. These professional referrers have developed a strong relationship with Fiscale based on trust. They understand the quality of the specialist R&D Tax Credit advice and support that Fiscale offers and appreciate the value added service that we can provide to their clients.
Value added no longer an optional extra
The professional services providers that we work alongside realise that in today's competitive market place clients expect something more than just "good quality and service".
By working alongside specialists, such as Fiscale, they can provide their clients with a genuine value added service without incurring additional costs. It is this "X" factor that will inspire loyalty - why would their clients ever consider changing to a different provider when they are being looked after so well?
A real life example
We currently work with several accountancy firms who understand that we are R&D Tax Credit specialists who have no interest whatsoever in becoming general service accountants. We provide the value added for their clients - it's a win, win situation.
One of the accountants we partner with is Baverstocks Chartered Accountants, based in Witham, Essex. Baverstocks is a long established firm, founded in 1957. The senior management team have a fresh and dynamic approach to accountancy. It is this open mindedness which led them to Fiscale.
Baverstocks realised that a number of its clients were eligible to claim R&D Tax Credit and instead of managing the claims internally the decision was made to look for a company specialising in R&D Tax Credit claims.
Fiscale was found through an internet search. Baverstocks liked the fact that we were local and made contact. After an initial meeting with our Technical Director, Stephen Bunting, it was clear that we had the required technical capability and professionalism to assist their clients. We are now Baverstocks preferred supplier for R&D Tax Credit claims.
We work closely with the team and have run a seminar at Baverstocks offices to help staff identify the type of activities that are eligible for R&D Tax Credit Relief.
The partnership between Baverstocks and Fiscale has resulted in a number of clients receiving substantial cheques from HMRC. By introducing Fiscale Baverstocks was instrumental in helping its clients to access what is effectively "free money" that can now be used to reinvest in the business to fund expansion or additional employees, bolster cash flow or simply saved for a rainy day.
The partnership between Fiscale and Baverstocks has proved to be very powerful and beneficial to all concerned.
Are you an accountant or professional advisor?
Why not get in touch and see how we can help your clients?
Find out more about R&D Tax Credit
To find out more about the R&D Tax Credit scheme and if your business activities are eligible please contact a member of the team on 01440 708333.