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Cross Accounting secures £335,000 investment

Cross Accounting, the accounting and payroll service business based at Rhiwbina, Cardiff has acquired business premises after a £335,000 investment supported by Barclays.

Nicola Cross, 45, owner of Cross Accounting and Payroll Servicing Ltd said “We have been renting the property for the last 5 years and always wanted to acquire the property. We provide accounting and payroll support to micro and small businesses turning over under £10 million which covers a lot of businesses across South Wales.

I set up the business in 2010 and we now have over 300 clients on our books.

Running a business is tough with no rest bite and being tied to the business 24 hours a day but the rewards far outweigh the downsides even after working 16 hour days. The gratitude of clients and the personal development of our small yet highly capable workforce makes it all worthwhile.”

Sharon Greer, Barclays Business Manager, said, “As champions of local business, it is essential that we support local businesses such as Cross Accounting. By really understanding the business and issues they have faced, Barclays has been able to support the business venture both financially and professionally throughout the acquisition. The property purchase which not only improve cash flow but also place another asset on the balance sheet.”

Nicola continues “We are very much aware of the challenges within the industry, but believe if you have the right staff and the right product you have a good chance of success. Whatever the external economic environment throws up, there will always be some businesses doing well and others not so well. We feel we are well positioned within the local market and can use this investment supported by Barclays to grow and strengthen the business. Brexit continues to dominate our clients concerns so access to quality and affordable professional advice is essential to maintain business confidence. We are clearly optimistic for the future and hope to expand into an additional office within the next 3 years.”