SEO Summary: A new TaxAssist Accountants franchise has been opened by a former finance director, Gerald Powell, in Barking, Essex, with the support of Lloyds TSB Commercial.

 

A new TaxAssist Accountants franchise has opened this month in Barking, Essex, using funding from Lloyds TSB Commercial.

 

The business has been opened by Gerald Powell, former UK finance director with property consultants Cushman & Wakefield, who left the firm in March 2010, after 19 years, to start his own venture.

 

Gerald chose to put his financial expertise to use by buying a franchise opportunity with Tax Assist Accountants, and currently operates from an office based in Barking.

 

Founded in 1995, TaxAssist Accountants has a network of 200 offices across the UK and provides tax advice and bookkeeping services to 36,000 small business customers.

 

It was at one of TaxAssist Accountants discovery days that Gerald heard a presentation that informed him of Lloyds TSB Commercial’s specialist franchise department. Lloyds TSB Commercial has previous experience of working with TaxAssist Accountants franchisees, and Gerald decided to approach the bank for support.

 

While Gerald purchased the franchise with his own funds, Lloyds TSB Commercial provided a loan and overdraft to ensure the business had the working capital it required.

 

Looking to the year ahead, Gerald plans to establish a shop presence on the high street to increase the business’ visibility to local firms and allowing him to take on staff as he expands his client base.

 

Gerald said: “I was looking to set up my own business after working for many years as a finance director and I was attracted to TaxAssist Accountants by the quality of the franchise that it offered, as well the good reviews it had received across the board from banks.

 

“Many SMEs are focused on the bottom line and balancing the books due to the current economic uncertainty. However, this is an area that some small business owners do struggle with.

 

“I want to be able to share my knowledge of tax and accounting with smaller businesses to help them in their early stages, and I hope to be able to take on a wide variety of new local clients in the coming year.”

 

Jane Gubb-Wallace, relationship manager and franchise specialist with Lloyds TSB Commercial in Essex, said: “TaxAssist Accountants is a highly regarded franchise business which, combined with Gerald’s impressive track record of experience, gave us every confidence in his business proposition.

 

“Lloyds TSB Commercial has a dedicated team with expertise in franchising who are able to offer guidance and support to franchisees, both as they start out and as the business grows and expands.”

 

Gerald added: “Starting the business was made simpler having spoken with Jane from Lloyds TSB Commercial, and I was impressed with her understanding of the franchise process and that she was able to offer the banking facilities and funding which I required.”