Accountants pay it forward during crisis

A Teesside accountancy practice has enjoyed continued growth throughout the pandemic while strengthening its partnership by supporting struggling clients through the crisis.

AbacusBean enjoyed a hugely successful 2020, culminating in its success as SME of the Year at the Tees Businesswomen Awards.

But the Stockton-based accountants didn’t revel in their glory – deciding instead to share their good fortune.

“We realised that many firms were and still are suffering, so we agreed to help them as much as we could,” said MD Bev Goodall.

AbacusBean charged only peppercorn fees to struggling businesses and helped hundreds more with furlough issues, applying for bounce back loans and generating cash flow forecasts.

“We could have grown even more over the last 12 months, but our primary aim was to enable people to keep their jobs,” said Bev.

Putting the needs of the Tees region firmly at the heart of all the firm does, AbacusBean has also become a member of Teesside Philanthropic Foundation’s Infant Hercules Charity Club and a corporate supporter of My Sisters Place.

“We’re proud to support these two amazing charities,” said Bev, who admits that having a community heart may have helped her firm scoop the SME gong at the Businesswomen Awards.

With AbacusBean having recently become a gold partner with online accounting solution Xero, Bev intends to carry on the firm’s upward trajectory.

“The partnership has great benefits,” she said.

“We have access to free e-learning and resources for our clients and are seamlessly able to collaborate with other businesses around the world. It’s a very exciting time.”