Name, title & company name?
Luke Fisher, CEO, ThanksBox
In a few words, tell us what your business does?
We offer an employee engagement and people insight platform.
When did you get involved in the setup of the business and what made you finally take the plunge?
In a previous role I was tasked with running a remote team and found it challenging to understand the level of engagement of my reports, but more importantly gather their feedback effectively. It was at this point that myself and a group of friends came up with the idea for ThanksBox.
We wanted to create a communication platform for employees to share ideas, offer feedback, complete surveys and recognise each other. Whilst at the same time, providing organisations with the ability to effectively listen to what is important to their employees at scale. We designed the product offering and shortly after presented the concept to the HR director of a company based in Guildford. The rest, as they say is history, as we now go from strength to strength.
What’s the best thing about your job?
The significance of every decision I make and its impact on the performance of the business, – knowing that you are creating something special. From picking my accountant to deciding who to partner with, I’ve never felt more in control of my destiny.
And the worst?
The volume of work I have as an entrepreneur, is a lot higher than I had in the corporate world. Running your own company means there isn’t a depth of expertise and limitless resource to rely on to get things done – on the plus side, things get done a lot faster!
Why did you choose KPMG Small Business Accounting?
When you’re a small company, anything you can do to look credible in front of potential customers and investors helps. Having the KPMG brand associated with our accounts, coupled with a cost effective fixed fee was a really attractive proposition. I also liked the fact that I’d only have to deal with one person for all my enquiries.
How have KPMG Small Business Accounting and your dedicated KPMG accountant helped you?
My accountant has essentially given me valuable time back. I’ve always believed in spending most of my time on business critical matters. Having a dedicated accountant to deal with everything from bookkeeping to tax means that my time is spent driving the business forward.
What are two industry specific challenges your business is facing?
Because of the nature of the technology industry and how easy it has become to build new platforms, there are always new competitors emerging. As much as I see this as a challenge, in the sense that it makes it tough to understand the direction the market will go, it is this same opportunity that allowed us to enter the space, with ThanksBox.
What one thing do you think the Government could do to help small businesses?
While we have taken advantage of SEIS and EIS, it would be helpful to have more initiatives for founders, and reduce the reliance on investment from investors in your startup.
If you could give one piece of advice to small business owners, what would it be?
I think it’s important to identify from the outset, what the most important things to focus on are – decide on your big rocks.
What’s next for your business?
We want to be in a position to transform the way organisations listen to and engage their people. In the next couple of years we’d like to have grown our customer base, have industry-leading products and have expanded beyond the 12 countries we currently operate in.
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