Allica Bank connects customers with QuickBooks
Allica Bank, the UK's fastest-growing company, has announced a new integration with QuickBooks, a leading accounting software platform widely used by SMEs.
0
From May 14th, Allica Business Rewards Account customers can connect their accounts directly to QuickBooks, enabling automatic transaction syncing. This real-time connection will provide business owners and their accountants with an up-to-date view of their finances, reducing manual data entry and the potential for error.
The integration builds on Allica's mission to transform business banking for established SMEs - those businesses with between 5 to 250 employees - a sector often overlooked by high street banks. The new integration will also enable businesses and their accountants to reduce admin, increase accuracy and make quicker decisions. It means less time crunching numbers and more time focusing on business strategy and growth.
Sophie Hossack, Head of Partnerships at Allica Bank, said:
"We're incredibly excited to launch our integration with QuickBooks! By partnering with a leading accounting platform, we are helping businesses and accountants to focus more on what matters with quick and efficient technology. Time is a valuable resource for business owners and we will continue to simplify business banking to ensure we deliver a meaningful and impactful service to established SMEs across the UK.'
'A core focus of our partnerships team is to strengthen the collaboration between accountants and Allica as we believe it is crucial for SME success. The integration plays a key part in this as it empowers businesses with the financial insights and support needed to thrive whilst also simplifying processes for their accountants.'
Nick Williams, International Product Director at Intuit, added:
"This integration with Allica Bank enables a seamless connection with Allica's Business Rewards Account, making it easier for business owners to manage their finances and communicate more effectively with accountants. From starting up, to scaling and beyond, the Intuit platform puts everything in one place to run and grow a business, from lead to cash. This means customers can direct their efforts elsewhere without worrying about tedious administrative tasks.'
This partnership reinforces Allica Bank's ambition to transform business banking for established SMEs by making their banking more rewarding, powerful, and human for established businesses. Earlier this year it revealed that the success of its relationship and technology-based model means it will be tripling the size of its relationship manager team in 2025, alongside doubling its dedicated accountancy partnerships team, with the ambition to achieve a 10% share of the established SME market by 2027.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Glasgow Times
18 hours ago
- Glasgow Times
Glasgow entrepreneur shortlisted for a prestigious award
Calvin Bannan, founder of Glasgow-based CB Services Group, has been selected as a finalist in the 2025 Allica Bank Great British Entrepreneur Awards. The awards, often dubbed "The Grammys of Entrepreneurship," highlight the UK's most compelling business narratives. CB Services Group is part of an esteemed list of finalists who collectively employ more than 25,000 people across the UK, and expect to create over 9,000 new jobs in the upcoming year. Read more: STV presenter to host best-selling author's Glasgow book launch This year, more than 800 entrepreneurs have been shortlisted from regions across the UK, commended for their innovation, impact, and resilience. These finalists boast a combined turnover of £2.25 billion and an average business age of six years. Calvin, who is in the running for the Scale-Up Entrepreneur of the Year award, said: "I'm absolutely thrilled to be named a finalist. "It's an incredible honour to be recognised alongside some of the UK's most exciting and ambitious businesses. "This recognition is a huge testament to the hard work of our team and our mission to raise standards across the facilities management industry by delivering reliable, high-quality solutions that truly make a difference for our clients." Frankie James, founder of the Great British Entrepreneur Awards, highlighted the calibre of this year's nominees. He said: "We're so proud to reveal this year's shortlist, a truly remarkable group of founders who are changing lives and transforming industries. "The quality of entries gets stronger every year, and it's clear that the entrepreneurial spirit in the UK is more alive than ever." Award winners will be revealed at a grand awards ceremony on Monday, November 17 at London's Grosvenor House, with more than 1,500 entrepreneurs, investors, and business leaders expected to attend. The awards are supported by Allica Bank, who aim to champion small and medium-sized enterprises (SMEs) across the UK. Read more: Glasgow couriers wanted as Evri boosts delivery team Conrad Ford, chief product and strategy officer at Allica, said: "At Allica, we're consistently inspired by the energy and strength of UK SMEs. "This year's finalists – from early-stage start-ups to established and family businesses – represent a vital force in the British economy, driving innovation, creating jobs, and making a real difference in their communities. "We're proud to support the Great British Entrepreneur Awards for the third year in a row, recognising these outstanding business leaders who are not only demonstrating resilience in a challenging business environment but are paving the way for future entrepreneurs to follow."
Scotsman
a day ago
- Scotsman
Julie Begbie, founder of the Happy Business Company named finalist in the 2025 Allica Bank Great British Entrepreneur Awards
Julie Begbie from Penicuik, Midlothian, founder of the Happy Business Company has been named a finalist in the 2025 Allica Bank Great British Entrepreneur Awards, shortlisted in the highly competitive AI Entrepreneur of the Year category. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Known as 'The Grammys of Entrepreneurship', the awards celebrate the most exceptional and inspiring business stories across the UK. This year's shortlist includes over 800 entrepreneurs from every nation and region of the UK, all recognised for their innovation, impact and resilience. Past winners include the founders of BrewDog, Grenade, ClearScore, Zilch, and Unbiased, many of whom were recognised early in their entrepreneurial journey by the awards. This year's finalists: Advertisement Hide Ad Advertisement Hide Ad Julie Begbie named finalist in the AI Entrepreneur category in the 2025 Allica Bank Great British Entrepreneur Awards Employ over 25,000 people across the UK across the UK Expect to create more than 9,000 new jobs over the next year over the next year Generate a combined turnover of £2.25 billion Represent an average business age of six years Julie Begbie founder of The Happy Business Company said:'I'm beyond thrilled to be named a finalist for AI Entrepreneur of the Year. Being recognised alongside some of the UK's boldest and most brilliant businesses is an honour I don't take lightly. This moment is more than just a milestone — it's a loud-and-clear nod to my mission of making AI less intimidating, more accessible, and actually fun for small business owners. Because tech should empower, not overwhelm.' The Great British Entrepreneur Awards are proudly supported by Allica Bank, a champion of established SMEs across the UK. Conrad Ford, Chief Product & Strategy Officer at Allica said: "At Allica, we're consistently inspired by the energy and strength of UK SMEs. This year's finalists – from early-stage start-ups to established and family businesses – represent a vital force in the British economy, driving innovation, creating jobs, and making a real difference in their communities. We're proud to support the Great British Entrepreneur Awards for the third year in a row, recognising these outstanding business leaders who are not only demonstrating resilience in a challenging business environment but are paving the way for future entrepreneurs to follow." Frankie James, founder of the Great British Entrepreneur Awards, added: 'We're so proud to reveal this year's shortlist, a truly remarkable group of founders who are changing lives and transforming industries. The quality of entries gets stronger every year, and it's clear that the entrepreneurial spirit in the UK is more alive than ever. Advertisement Hide Ad Advertisement Hide Ad Many of our finalists go on to become household names, and we can't wait to watch what this year's cohort achieves next.' Winners will be announced at a prestigious awards ceremony on Monday, November 17, held at London's Grosvenor House, where over 1,500 entrepreneurs, investors and business leaders will come together to celebrate entrepreneurial success. It is with thanks to national and regional sponsors Allica Bank, ADHD 360, Airwallex, Caudwell Children, Channel Funnels, de Novo Solutions, EliteBusinessLive, FundOnion, Great Influence, Join Talent, Mettryx, Quidos, Randal Charitable Foundation, ScoreApp, UBS Wealth Management and Vestd that the Great British Entrepreneur Awards has been able to celebrate the very best of Great British entrepreneurs for 13 years.
Reuters
a day ago
- Reuters
In Germany, retiring company owners struggle to find successors
BERLIN, June 10 (Reuters) - Rudolf Kiessling would like to retire after years spent building his heating, ventilation, and air conditioning business. But he faces a challenge common to many German company bosses: finding someone to take over. The 62-year-old is among thousands of owners of small and medium-sized enterprises (SMEs) - some 99% of German firms, known collectively as the Mittelstand - who may have to wind up their businesses if they cannot find a successor. The issue is a growing risk to Europe's largest economy, already suffering its longest downturn since World War Two. "I have no one. I have a son, but he can't do it because he has done something completely different professionally," Kiessling told Reuters. "Some employees may have interest, but they are a bit afraid of the responsibility." A survey by state-run development bank KfW showed around 231,000 SME owners planning to close their companies by the end of this year - 67,500 more than a year ago. Age is a major factor: demographic data show more than half of Mittelstand owners are over 55 years old, up from 20% 10 years ago. And they are ageing faster than the population as a whole - 39% of them are 60 or older, compared with 30% of Germans overall. "Never since we began to monitor business successions have so many small and medium-sized enterprises considered giving up their operations," said KfW's Mittelstand expert Michael Schwartz. SMEs account for more than half of Germany's economic output and almost 60% of jobs, and are an engine of private investment. The succession problem "not only threatens jobs but also weakens Germany's economic position overall," Marc S. Tenbieg, head of the DMB Mittelstand association, told Reuters. Although the new government wants to boost investment with an infrastructure fund, corporate tax cuts and advantageous depreciation options, businesses may be reluctant to commit without clarity about their future leadership. Carsten Brzeski, global head of macro at ING, cited studies showing under-investment of 400 to 600 million euros ($457-686 million) in Germany over the last decade. "Investments are held back as business owners cannot find adequate succession planning," Brzeski said. Before February's election, the Commission for Business Succession of another Mittelstand association, BVMW, made recommendations to address the problem, including tax incentives for business transfers and ways to improve financing conditions. "The new government plans very little on this issue according to the coalition agreement, where the term 'business succession' does not appear at all," said Benno Packi, chairman of the commission. A economy ministry spokesperson said the government has been supporting business successions with numerous measures, such as a free website to match owners with potential buyers, and loan offers with reduced interest rates. A smaller pool of internal candidates can make it hard to find talent, especially if larger companies offer more competitive packages, said Oliver Stettes, head of labour economics at the IW economic institute. Germany already has an acute shortage of skilled workers. But the succession squeeze also has an impact on bigger firms, nearly all of which have small companies as suppliers that would be hard to replace. Candidate scarcity can make what is often an emotional transition more challenging, said Holger Wassermann, an expert in company successions. "Psychology makes up at least two-thirds of the considerations in Mittelstand business sales," Wassermann said. "For many entrepreneurs, their company feels like a body part - selling it can feel like losing an arm." The average age of those handing over increased to 63 years from 61.5 years last year, while the age of those taking charge was static at 38 years, according to a Successions Monitor in which Wassermann participates. Marcel Krieb is an outlier. At just 25, he became managing director of pretium associates, a financial consultancy for SMEs established in 2003, after working on a project with its founder. "He asked me at the right time if I could somehow succeed him in his company," Krieb told Reuters. "Many young people prefer the security of a steady paycheck and predictable future, rather than the uncertainty that comes with being self-employed." Many Mittelstand companies are family-owned but nowadays fewer sons and daughters are prepared to take over. A survey by the Ifo Institute found 42% do not have a family member lined up to succeed. Jacob von der Decken was 30 and his father 68 when Jacob took over the family's agricultural business in northern Germany last year, having discussed it periodically since he was 14. "It's a lot of responsibility going on your shoulders," said von der Decken, who studied agricultural economics and had been working on renewable energy projects at a fintech company. "In agriculture, your family lends you the farm for one generation, and then you pass it on to the next generation. You have like 30 years of bringing it forward and making sure that it also lasts the next decades." While his father's generation prioritised efficiency, he is focusing on diversification and leveraging AI for data collection through a startup, Tunen Agronomy. Private equity takeovers, often mooted as a solution, are really only an option for larger Mittelstand firms, said Michael Wolff, an M&A expert at investment bank Stifel who specializes in transactions for companies valued at 100-500 million euros. "For the craftsman with 10 people or 20 workers ... So far there hasn't been a solution that systematically helps these people," Wolff said. And the Mittelstand's problems ripple widely. "With each small piece that breaks away, the foundation of the German economy becomes a bit more fragile," said pretium's Krieb. ($1 = 0.8877 euros)
