Name, title & company name?
David Duncan, Finance Director, Mayflower Care Limited
In a few words, tell us what your business does?
We build, own and operate premium care homes for the elderly.
When did you get involved in the setup of the business and what made you finally take the plunge?
The business was set up with a group of former colleagues from a large care home operator, together with several other people with experience of running care homes. I came into the group with an accounting background having previously run the finance function for a large corporate group that had started as a small company. I welcomed the opportunity to start again with an agile and entrepreneurial business.
What’s the best thing about your job?
I love knowing that I work for a business that is striving to improve the quality of care by building homes that provide a welcoming environment for their residents.
And the most challenging?
With several companies in the group and a lot of planning for the future, you can imagine there is a large volume of paperwork and a heavy compliance burden.
Why did you choose KPMG Small Business Accounting?
We were actually recommended the service by a KPMG partner that I’d worked with in my previous company. What made me choose KPMG Small Business Accounting was that fact that we could benefit from KPMG’s experience and economies of scale and have a reputable stamp of approval on our books.
How have KPMG Small Business Accounting and your dedicated KPMG accountant helped you?
Our dedicated KPMG accountant made the setup process really easy for us. Doing our VAT returns has been much simpler and it feels like we have a really professional process in place. Plus it’s always nice to have someone to call on with any question I might have.
What are two industry specific challenges your business is facing?
Staffing and funding seem to be the common thread in terms of challenges for us, but I imagine it’s the same for most businesses in the care sector.
If you could give one piece of advice to small business owners, what would it be?
I would say always keep an eye on your cash flow. It’s helpful to forecast so you can plan ahead for any changes that may occur.
What’s next for your business?
Expansion is next on our agenda. The plan is to build around four new homes each year and we’re currently in the process of building two which will employ about 100 people each. This means payroll will become very important in the near future.
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