The Cornwall Innovation Podcast
In this episode of the Cornwall Innovation Centre podcast, Rebecca Loto speaks with Tony Kirk, co-founder of T&A Kirk Accountants, a firm run jointly with his wife Amy. Tony discusses the unique advantages and challenges of running a business with a life partner. While there are challenges in separating work and family life, the main advantage is having someone to support you through the difficult decisions that all businesses face. Tony explains how having Amy as both a business partner and wife provides emotional support during tough times, allowing him to discuss strategy and challenges without worry of judgment. Running a small business can be isolating, but having a partner shares the burden and eases the stress of decision-making. The conversation explores how Tony and Amy maintain a healthy work-life balance while working together. They implement monthly "date days" where they leave the office, go for a walk, have lunch, and dedicate time to discussing business strategy, planning, and all matters on their minds. They write notes and discuss ideas openly. Tony emphasises how important this practice is for preventing stress from building up and allowing them to compartmentalise work and family time. When they miss these planning days due to being busy, they notice the impact on both the business and family life. Tony stresses the importance of carving out strategic planning time and mentions that many business owners wait until they're less busy to work on strategy, which never happens. He recommends that all business owners, whether working with a partner or not, find someone to support them, whether that's a friend, advisor, or colleague, to help think through the bigger picture. The discussion covers T&A Kirk Accountants' client base, which is predominantly small businesses and sole traders. Tony explains how working with these clients gives him insight into the wider business climate and sentiment across different sectors, which many businesses don't have the opportunity to experience if they work directly with consumers. Tony discusses the benefits of being based at Penryn Innovation Centre, including the use of meeting rooms for client meetings, a comfortable safe environment for staff, security for handling confidential data, and opportunities to network with other business owners. He values knowing his staff are in a secure environment, particularly when he travels around the country meeting with clients. A significant portion of the conversation focuses on Making Tax Digital (MTD), a new HMRC requirement forcing quarterly tax reporting for self-employed sole traders instead of annual filing. Tony acknowledges there will be a period of pain during the transition, with some sole traders still unfamiliar with the requirements as of the interview date. Tony encourages business owners to have conversations with their accountants about quarterly returns rather than simply filing them without understanding what the figures mean. He stresses that accountants love these conversations and can help identify red flags or opportunities within the data. He also recommends that business owners move toward thinking about their business and planning quarterly, allowing them to understand their cash flow and business health much more regularly and with less overwhelming pressure at year-end. To learn more about T&A Kirk Accountants or discuss accounting and tax services for small businesses, you can find them at Pool Innovation Centre.
9 jaksot
Kommentit
0Ole ensimmäinen kommentoija
Rekisteröidy nyt ja liity The Cornwall Innovation Podcast-yhteisöön!