Champion adds spark to Symmetrical Power

September 14th, 2020

Bringing a new product to market requires multiple elements; tenacity, resilience, and the upfront capital to secure the talent necessary to drive the launch forward. For those who utilise crowdfunding to support this type of project, it can come with several complexities.

Manchester-based Symmetrical Power appointed Champion Accountants to help it overcome the associated challenges of crowdfunding in its quest to introduce a new electrical product to a variety of industries; a distribution board that significantly reduces a building’s energy consumption by distributing upstream electricity equally to single downstream circuits on three-phase systems.

Its founder had previously secured an element of funding from private investors but turned to crowdfunding to ensure it had the necessary financial backing to bring the prototype products to life.

Having utilised several accountants in the past for various projects, managing director, Prem Singh, was introduced to Champion and tasked us with supporting the completion of its crowd raise, carried out with Crowdcube. At the first point of contact, capital had already been raised but final documentation hadn’t yet been prepared, signed or lodged with Companies House.

In partnership with Symmetrical Power, we:

While this support helped Symmetrical Power’s crowdfunding campaign get over the finish line, what has resulted is a blossoming relationship; we have now been appointed to support with the company’s general accounting and tax relief claims to unlock even more capital.

Namely, we are undertaking:

Prem said: “Previous accountants have been unable to support me with crowdfunding applications, so I sought to find a company that could help me with the formalities of the Crowdcube platform to understand its structure and how to successfully secure the funding we needed to bring our product to market.

“Champion put my interests first and made it clear they wanted to deliver for us. Such was Champion’s level of expertise that we have appointed them to take on a wider remit of services, for the foreseeable future. They have taken over in the areas I don’t have expertise which has made this a mutually beneficial relationship which works seamlessly for both parties.”


BACK TO NEWS PAGE »
Latest News

Champion Accountants appointed by Blackp...

June 1st 2021

A Blackpool-based accountancy and auditing practice has been appointed by Blackpool Football Club. ...

What’s driving the boom in new propert...

May 31st 2021

Changes in the way buy-to-let landlords are taxed on their numerous properties have led to a rise in...

Focus
management accounts

Xero | Making Tax Digital Why Xero accounting is the digital tax platform for you ...

management accounts

Sage Business Cloud | Making Tax Digital Why Sage Business Cloud or Sage 50cloud is...

SPOTLIGHT ON R&D

Veya

Veya

Around 30 per cent of all residential property transactions arent successful. Veya has been launched to reduce that statistic by removing the frustrations that buyers and sellers face during property transactions.

Our Tweets

Champion Accountants

Growth Protection Core Support Menu
Contact