Lord Young Looks to Step Up KashFlow

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Ex United Kingdom MP and former Secretary of State for Trade and Industry invests in KashFlow, the accounting and book-keeping solution for small businesses.

The Rt. Hon. Lord Young of Graffham, former Secretary of State for Employment and Trade and Industry has invested in the accounting software development company, agreeing to inject a significant amount of capital.

KashFlow launched its flagship product, an online tool specifically designed to help owner managers in small businesses manage their accounts, in mid 2005. Since that time its simplicity and ease of use has helped it to quickly win a significant share of the valuable accounting software market and the owner has been seeking major financial backing to ensure it continues to grow and succeed in such a congested market place.

The capital Lord Young has invested will be used to ensure KashFlow goes on to increase its market share and it will also allow it to continue to compete with the bigger and more well established accounting software providers.

Speaking about the investment Lord Young commented, “You only have to look at what KashFlow has already achieved in terms of market penetration against a tough environment to see that with the right funding it will continue to win more market share.”

One of the key factors in my decision to invest was as a direct result of reading the feedback about how effective a product it is and how much it is helping small business owners across the UK.”

Duane Jackson, founder and Managing Director of KashFlow commented, “This is a truly exciting time for the business and I am really proud that the success of our unique product has enabled us to catch the eye of such a well respected City businessman as Lord Young.”

The KashFlow accounting package is securely hosted online, requires no installation and can be trialled for free by visiting http://www.kashflow.co.uk. The site also displays examples of feedback from actual users

Editor’s Notes:

For further information contact:

Andy Barr, 10 Yeti’s Public Relations – 01452 300683 or 07743057458

Duane Jackson, Kashflow Ltd – 020 7403 0101

Information about Kashflow:

Research has shown that 70 per cent of businesses fail within their first year. Many small businesses fail to integrate proper accounting practices causing a lack of financial control and consequent cash flow problems which forces the business to fail. In addition, owner managers often do not have the time and ‘know how’ to properly invest in business analysis. KashFlow is a simple and time efficient tool for owner managers to manage their accounts and monitor business performance.

KashFlow gives owner managers hands-on control over all their finances, enabling them to:

  •     create, print and email professional looking, tailored invoices
  •     send reminder letters for unpaid invoices
  •     log payments received
  •     log purchases made
  •     produce VAT returns
  •     manage a client base
  •     reconcile bank statements
  •     and run management reports.

KashFlow is simple to employ, with users instinctively knowing where to click to perform almost any accountancy task.

Owner managers are able to effectively manage their accounts with no need for software training or prior knowledge of accountancy. This simplicity frees up valuable time and resources, allowing small businesses to focus on core business activities.

Journalist quiz, 10 Yetis prize for the first correct answer sent by email: Which male musical duo were originally going to be called Tom & Jerry.


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Andy Barr
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