Name, title & company name?
Paul McMahon, Chief Financial Officer, Ustwo.
In a few words, tell us what your business does?
We’re a digital product studio, working for large global brands, designing and building digital products across multiple platforms.
When did you know that you wanted to get involved with a start-up/small business and what made you finally take the plunge?
I wanted to be involved in the digital sector and work in the creative sector. After a few really insightful discussions with friends I realised that working for a start-up would give me just the hands on experience I was after. Shortly after I joined Ustwo as CFO.
What’s the best thing about your job?
I love working with ambitious, positive and creative people, which there are in abundance in this organisation. I also enjoy being in a growth story.
And the most challenging?
It’s always tough to find the right balance between financial control and enabling growth, but it’s something we’re constantly working on, as an ambitious business.
Why did you choose KPMG Small Business Accounting?
We knew we needed access to a wide range of expertise with an international dimension, but at an affordable price for us. KPMG seemed to have a good understanding about where we were in our lifecycle and where we wanted to be.
How have KPMG Small Business Accounting and your dedicated KPMG accountant helped you?
Our dedicated accountant has been extremely helpful. He has commercial experience and always seeks a pragmatic approach. It’s also refreshing to work with an accountant who isn’t afraid to tell us what we don’t want to hear.
What are two industry specific challenges your business is facing?
The markets for apps has evolved and to an extent, commoditised. User experience has also become a recognised discipline so there are a lot of companies taking this work in house. We’ve found that this in turn has increased the cost of recruitment over the years.
What one thing do you think the Government could do to help small businesses?
We find the government R&D incentives to be very helpful as they have made the projects we take on more affordable.
If you could give one piece of advice to small business owners, what would it be?
My best piece of advice is to have good cash flow management. It is also important to understand the way the market is changing and be prepared to make changes to your business model.
What’s next for your business?
We want to remain independent and will therefore be working on ensuring we have a sustainable business model that is cash positive.
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