Amandeep Banga
Amandeep Banga is a Director at ABMO Consultancy
Back in 2006, I worked as a relief manager for Coral, the betting agency, but I knew I needed a stable career for the future. After some research, I discovered ACCA and something clicked. I resigned from Coral the next day, registered as an ACCA student, and found a job with a sole practitioner. Although it didn’t pay much, it was all about gaining experience. To make ends meet, I took additional jobs as a pizza delivery driver, worked at a petrol station, and at an Orange mobile shop. Whenever it was quiet, I’d study. At one point, I couldn’t afford the books, so I used the ones in the local university library. It took several attempts to pass some of the exams, but I never gave up and qualified as a member in 2012.
After working in small practice, my career mainly involved industry roles. However, I wanted to do something on my own, so I worked towards getting a practising certificate. Once I had it, I started my own practice in 2016 as a side hustle to my daytime industry job. Earlier this year, I decided to go full-time with my practice. I now have over 100 clients, hired an apprentice, and am currently renovating my new office, which will open soon.
With every single client, I strive to provide exceptional service by ensuring I never miss any filing, send timely reminders, and give them quality time, whether it’s teaching them the basics or discussing issues. All my clients have come through referrals, allowing me to grow organically with minimal marketing. It’s the law of attraction – when you provide 100% genuine service, clients connect with you and refer others. Not all referrals work out; some prefer cheaper accountants, but I firmly believe in setting the value range of each service and avoiding undervaluing your services, which can lead to being overburdened without making much in fees.
One of the key strategies of my business is that I test potential clients to see if they fit my criteria because I aim for a lifetime connection, not just a one-year service. I’m building a community where clients refer each other for different services. For example, if a client needs a builder, I introduce them to clients in construction. As an accountant, my philosophy is that my clients are the kings and queens, and I am the kingmaker. It feels great to have such responsibility.
The challenges my clients face vary by sector. For instance, those in construction have seen a slowdown due to higher interest rates and competition from ‘man with a van’ businesses, impacting established builders with insurance and overheads. This has a knock-on effect on smaller independent wholesalers and retailers. Across sectors, the cost-of-living increases have forced single-owner companies or self-employed high earners to use savings meant for tax and VAT bills. Now, they face the prospect of setting up a tax plan with HMRC, which charges 7% interest. The new penalty point system also makes it hard to see how the Government is protecting businesses.
I’ve just recruited my first employee, and now in the process of renovating my new office with a plan to move in by next month. My short-term goals include buying a retiring practice to accelerate growth and outsourcing some work. I received extra support through a scholarship to do Myers Briggs training, and it was life-changing – it helped me build patience, understand myself, communicate better, and have more confidence. I thoroughly recommend such training to new single practitioners.
I spend my weekends with my family, which is always relaxing. However, I must admit, I love my work and find it equally relaxing. I enjoy playing sports like basketball and golf, but with young children, finding the time can be challenging.