Accountancy firm gears up for expansion with six-figure funding
Sheffield-based accountancy firm, Lishmans LLP, has secured a £250,000 funding package from NatWest as part of the Coronavirus Business Interruption Loan Scheme (CBILS) to support the future of the business and drive forward expansion plans.
The funding has enabled the business, which provides business consultancy, accountancy and taxation services, to continue servicing clients and retain its 20 staff. The company has supported its clients throughout the coronavirus pandemic, helping them secure over £20m in CBILS funding to safeguard their own businesses.
The finance will also help the firm remain on track to meet its expansion ambitions in 2021, with plans to purchase a second practice in South Yorkshire, creating up to 25 jobs.
Lishmans LLP was founded by Gerard Price and Emily Humphreys became a partner in 2016. Gerard has 25 years’ experience in accountancy and Emily has over 10 years’ experience working in general practice. Since 2016, the business has enjoyed significant growth, increasing the number of employees from six to 20 members of staff.
Gerard said: “In the last four years we have supported a wide range of clients and consistently grown year on year. We were keen to keep this momentum going during the tricky lockdown period so that we would be in a strong position going forward.
“The support from NatWest has allowed us to continue to support our roster of clients, as well as maintain our brilliant team that are working so hard to service them. By going through the application process for CBILS funding ourselves, we were able to accurately support businesses with their own applications, something that was invaluable to our clients.”
Optimum Commercial Solutions Ltd introduced Lishmans to NatWest broker development manager, Simon Steer and NatWest relationship manager, Ray Booth.
Ray said: “Lishmans is a successful business with strong reserves and a great reputation in the local area. We were happy to secure a CBILS loan to strengthen the firm as it looks towards 2021. We are confident that the business will continue to grow organically, and we look forward to working together again in the future as the business opens its second office.”