A Yorkshire accountancy firm is offering a £500k package to help smaller businesses that are struggling in light of the coronavirus lockdown.
Leeds and Ilkley-based Northern Accountants has already pledged £250k to help stabilise cash flows for SMEs, and said that it is “on track to double this amount”.
The group will now offer a “range of tools” to help firms manage their money, and will commit to covering software subscription costs until the end of June.
Four new online tools that are now being offered include: Stripe, which widens payment options for a company’s customers; Receipt Bank, that helps businesses collate invoices and expenses quickly and efficiently; Chaser, which automatically follows up outstanding invoices and Float, a tool to accurately forecast future cash positions of a business.
Phil Ellerby, founder and chief executive officer of Northern Accountants, said: “We are committed to helping our clients through this time of uncertainty, and in many cases, reduced revenues.
“Our team has spent two weeks contacting the companies we work with to understand their requirements, and tailor the support that they need.”
He added: “Disruption to cash flow is one key issue that can cause serious problems, particularly when there is less money than usual in a firm’s systems.
“These tools combined can really improve this situation – and be the difference that keeps businesses on track.”
Katie Mallinson, managing director of Scriba PR in Huddersfield, a client of Northern Accountants, said: “We’re delighted to see our numbers professionals helping out businesses like ours in this way.
“While many are tightening their belts, Northern Accountants is really living the ‘we’re in this together’ mindset and going all out to assist company owners and management.”
Ryan Hall, director for Q Deck Systems, added: “The speed of Northern Accountants’ reaction to coronavirus assured us we can get through this together.
“Many companies are struggling to get any support from their accountants, while what we have received so far, including the extra tools and support from the team, is phenomenal.”