Kennedy Accountancy Scheme fills gap for vital Highland community businesses
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When it comes to starting up and running a business, the idea can be daunting.
It not only involves having an idea, but having the funds, resources and knowledge to execute it successfully.
Karen Kennedy, of Kennedy Accountancy, recognises the stress involved in starting up a business and the lack of funding available to vital businesses in rural Scotland.
Based in Dornie, Karen and her firm have decided to launch the Kennedy Accountancy Community Credits Scheme.
Seeing that regional funding was primarily going to the tourism, food and drink, energy, tech and innovation sectors, Karen became frustrated at the lack of money going to the service-based businesses which are open all year round.
For her these businesses provide key services and are in need of investment and help.
The Kennedy Accountancy Community Credits Scheme has been launched to do just that. To give the hand of support needed to joiners, electricians, beauticians, hairdressers, mechanics and alike.
The backbone of communities who have been overlooked by local funding bodies according to Karen.
Karen said: “I work with a lot of start-ups and new businesses up to two years old, and given that I work with a range of industries I see who gets what.
“In terms of cash funding the majority goes to tourism, food and drink and tech, and it’s not going to diverse industries or service-based industries that keep us going when tourists are gone.
“It’s frustrating to see the local electrician wanting to expand, looking for cash and not being able to get some.
“It’s unfair and so this is a solution- based service to help businesses who operate all year round.”
The scheme will provide part-subsidised fees for start-ups or businesses within their first two years of trading.
“They’ll get part-subsidised fees for the first 12 months we work together and thereafter if they want to stay as clients it will go up to normal fees, but by then they should be well on their way to running a profitable business”, she explained.
“It applies to business start-up advice, book-keeping, accountancy services, whatever they need it can be tailored to them.”
All people need to do is fill in a short form on the Kennedy Accountancy website and they will receive a call back from a member of the team.
Starting a business up with the right advice is important to continued success and survival.
“Doing this means a lot to me, as people can’t see into the future”, Karen said.
“If they get it wrong then they will have to pay even more to unpick the mess that has been made.
“To go in with the right advice is crucial.”
The scheme won’t be open to food, drink or tourism business but will instead be open to the sectors that provide year-round services to the local community who struggle to get funding.
Karen said: “These businesses are crucial to the community functioning and they provide local opportunities for employment.
“They are important to economic growth, it’s grossly unfair how they are overlooked, and that is why I have launched this scheme.”
Discussing the local businesses that are already being supported by Kennedy Accountancy through the scheme, Karen said: “We’ve got a garage, beautician, two hairdressers, stonemason and a makaton teacher interested at the moment so it’s really diverse.
“There is no limit on the amount of clients who can enter scheme, but the business has to be within Lochalsh, Skye and Lochcarron and can’t be in tourism or food and drink sectors.
“It’s my business that’s funding this so I have the final say on eligibility to the scheme, but am really looking forward to helping as many as possible.”
Karen hopes that the Kennedy Accountancy Community Credit Scheme will inspire other businesses to step up their support to local businesses and services.
“I hope the scheme will encourage other businesses who talk about community to put their money where their mouth is,” she said.
“They should be giving more back in terms of their expertise, time and money.”
Speaking about why this is important to her, Karen explained that community is what her business is all about, and this scheme shows she is living and breathing her values.
Kennedy Accountancy won the new business of the year award at the 2022 Highland Business Women Awards last month.
