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TENON OVERSEES NEXT ROUND OF FAST GROWTH

TENON OVERSEES NEXT ROUND OF FAST GROWTH FOR BLUSOURCE ENTREPRENEUR

Accountancy firm Tenon is once again toasting business success with East Midlands entrepreneur of the year Andrew Springhall, having played a crucial role in the first year success of his new venture, search and selection firm Blusource.

Just 12 months since its launch, Blusource is already expanding into stylish Victorian Residences in Nottinghams financial district, following an excellent first year of trading. From here Andrew aims to further increase Blusources expert search and selection consultancy offer for Midlands organisations when making legal, accountancy, corporate and executive hirings.

Tenon and Andrew have enjoyed a long working relationship, with the firm initially providing outsourcing to Power On Connections in 2005 a business which Andrew jointly owned and built from scratch. When the business was sold in March 2008 it boasted a 72nd place ranking in the Sunday Times Virgin Fast Track 100 business list and Tenons Paul Bevan handled the sale.

Eighteen months on from the sale of Power On, Tenon is providing audit services for Blusource and advising Andrew on tax issues for Blusource - which he believes is one of the factors that has led to the fast growth success of his new business.

As an entrepreneur with many business interests, I have had to be very careful to manage my personal and business taxation carefully, which Tenon has helped me to do by structuring my portfolio of interests accordingly, explains Andrew.

Patrick Fletcher and Tenons tax team managed taxation issues for the purchase and renovation of our new building, the establishing of Blusource itself and of course the implications of both of these new factors on the rest of my portfolio.

Its crucial for me to be able to fully concentrate on the other areas of my business to drive things forwards and nice to have faith that your advisers are working as if they are part of the team. I have learnt just how strategic taxation can be when building a fast growth business.

With the Blusource board already taking up their posts and a marketing consultancy and IFA already taking on tenancies in Andrews Clarendon Street premises, Patrick Fletcher and the rest of the Tenon Tax Team could be helping Andrew to manage his growing tax revenues much sooner than expected.

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