This month we are in discussion with Purple Lime. Thank you to Director Oli Thomas for taking the time to answer some questions.

 

  • How did you get your idea or concept for the business? I was working in an accountancy practice and had potential clients approaching me for outsourced finance function services that we were not geared up to deliver. I also have always kept a close eye on how AI and cloud technology was coming to change the way accounting services are performed and delivered to growing businesses. These two opportunities came together with my setting up of a new accountancy firm

 

  • What was your mission at the outset? Purple Lime’s mission is to deliver valued accountancy services to ambitious growing businesses, using a blend of highly capable people and the latest technology within accounting and finance. We help businesses get to where they want to be by being the tailored finance function – to plan, capture and report financial performance. We help people get to where they want to be by applying our core values of integrity, investment in people and the use of technology both internally to our employees and externally to the entrepreneurs and business leaders that we work with.

 

  • How many employees? Currently five accountants with two more planned before the end of the year.

 

  • What services or products do you offer or manufacture? Accountancy services; running businesses finance functions whilst taking care of the year-end tax/compliance as well.

 

  • How do you advertise your business? We use PR (ads, editorials, interviews), social media and a lot of networking/relationship building.

 

  • To what do you attribute your success? Extremely driven management, unique service offering and culture (youthful and modern accountants) and a good team of professionals delivering the service.

 

  • Do you use the services of a professional accountant or solicitor? We run our own finances and compliance in house. We use solicitors/lawyers on a project by project basis as the need arises. We have retained outsourced HR service for staffing.

 

  • What do you look for in an employee? Smart, interested in technology and SME business and happy to join in with team socials.

 

  • What made you choose your current location? We have a number of high-growth clients based on the same business campus as us. Hartham Park offers an excellent place to base an ambitious team and has a history of harbouring innovative businesses.

 

  • What kind of Corporation is your business? A Company limited by shares.

 

  • What’s your company’s goals? Purple Lime’s vision is to change the way SME businesses think about accountancy – moving away from compliance and tax (whilst still recognising that these are very important aspects of business) to a more involved, proactive advisory approach. We do this through our mission of utilising highly capable people and the latest technology in order to have “live” performance data for the businesses that we work with; allowing collaboration and advice to happen in real time. Every small, ambitious business can have their own finance department.

 

  • Do you work locally or nationally? Nationally, but mainly in the South, from London to Cardiff.

 

  • What is unique about your business? We are not like traditional accountants. We really do work with a client every week of the year to ensure they are on track. We also dress casually!

 

  • What are your responsibilities as the business owner? To manage the company’s growth in a sustainable way to create an environment for employees to be successful at work and our clients to be successful in business. We ensure all employees are given equal opportunity and have the tools and skillset required to deliver their best work to clients.

 

  • What made you choose this type of business?  I have been an accountant for my entire career and love working with SME businesses to help them achieve their goals and comply with tax and accounting requirements in a changing landscape of compliance.

 

  • Does your company help the community where it is located? Yes, we have quarterly charitable drives which are picked in turn by the staff. These could be local (such as schools) or national (such as large charities) organisations. We also take an active part in socialising and sharing knowledge with the business community in Corsham and specifically at Hartham Park.

 

  • Have you ever turned down a client? Yes, we have a clear profile of who we can help and which businesses we will add value to. If the business does not fit this profile, we signpost the enquiry to our contacts in the accounting profession.

 

  • If you had one piece of advice to someone just starting out, what would it be? Plan your business model our in numbers and narrative to the finest detail you can before starting, always linking this back to your mission and values. Once you have a plan that works, stick to it ruthlessly and measure against it (financially and non-financially) at least monthly.

 

 

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