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Networking pays off

A Shropshire accountancy firm which is a member of a specialist finance network has reported a huge increase in business over the last 6 months.

Dyke Yaxley, Chartered Accountants, in Old Potts Way, Shrewsbury is the only local practice to be part of The Corporate Finance Network.

And since joining the organisation, the Company has announced that both the volume and value of deals they have done has increased massively.

Laurie Riley, for the firm, said: "Becoming the only local accountancy firm to be a member of the network has really paid off in terms of securing new business.

"The network specialises in deals for small and medium sized businesses, which are generally between £500,000 and £3 million, and the latest figures show members have done particularly well in the first half of this year."

Statistics show that the average value of deals completed by the member firms of The Corporate Finance Network in the last 6 months is £2.85 million - more than double the average value of those completed in the previous 6 months (£1.33 million).

Kirsty McGregory, Chairman of The Corporate Finance Network, said: "There has definitely been a feeling of more optimism among our firms over the last few months, and I'm very pleased that this has been proven by the results we have now published.

"This success has occurred despite the incredibly difficult lending environment that we still find ourselves in.

"Our firms have been working tremendously hard to find solutions for clients who are seeking to borrow funds, or complete a corporate buy or sell transaction.

"And I believe it is due to the specialist nature of our network, that we are able to concentrate on continually identifying alternative lending sources and sharing those with our member firms, so that they can offer the latest market-leading advice."

More information is available about The Corporate Finance Network on www.corporatefinance.org.uk

Dyke Yaxley's Laurie Riley