Eamonn Corrigan

Summary

A profitability driven Finance Director with expertise in all areas of accountancy, financial management and controllership. Eamonn has worked predominately with SMEs in Ireland and has also worked for a PLC in London.

Eamonn is not your average accountant. He recognises the roles of other departments within a company and the importance of marketing.

His core aim is to ensure entrepreneurs maximise their growth potential to satisfy the owners and family member goals and thereby achieve all of their hopes and aspirations.


Experience

Eamonn qualified as a Chartered Management Accountant (CIMA) in 1992 and after spending 10 years in London, he moved to Northern Ireland to set up his own accountancy and consultancy practice. He has worked with many SMEs in Ireland and understands their routines as they go about their daily lives.

As a flexible and resilient self starter, Eamonn isn’t afraid to get stuck into sort out the problems and issues that hold business owners back.

His key achievements from previous roles include:

  • Taking a start-up from zero employees to 100 in 10 years.
  • Saving a company from bankruptcy by bringing all compliance up to date by working 7 days per week.
  • Leasing or buying decisions for many SMEs.
  • Undertaking tax planning discussions with clients saving them thousands of pounds in tax.
  • Being on the Intertrade Ireland partner program for Brexit awareness.
  • Wrote and published the book “How to be a successful business owner and still have a life”.
  • Ensuring businesses adhere to strict tax and compliance deadlines.
  • Developing short and medium term cashflow projections to help enable businesses to understand their working capital needs and future funding requirements.
  • Negotiated with banks for new funding opportunities for clients.
  • Showing start-ups the value of pricing your product and services correctly from the start.

Case Study

Business Turnaround

Background:

The business had been relying on internal accountants/bookkeepers to provide the compliance and the managing director took his eye off the ball as he was away from the office most of the time due to family illness. The organisation had multiple sites for distribution in Ireland which had a limited financial budget. Weak finance and a dysfunctional organisation meant that the directors were in breach of their duties. Pressures on cashflow, staff costs and evolving legislation meant the company had to review how to meet their business objectives while keeping the customer happy without compromising the bottom line and bank balance.Case STudy Steve SMith Scaling up

Challenge:

To save the company from bankruptcy as 3 years of accounts and tax returns hadn’t been filed. The business was losing money and relied on a couple of large customers. Urgent action was required by me. The business had to price for new work that would result being in positive cashflow, so I set up a pricing model for them. The company had to try to meet the challenges in growing to adapt to the economic climate by developing practices that enabled them to reduce costs, improve efficiency and still deliver good service through motivated employees.

The company relied heavily on bank overdrafts and loans. I wanted to focus on generating as much cash as possible internally. We looked at key funding sources of private equity/venture capital funding as well as the non-traditional alternatives such as ‘peer to peer’ lending, crowd funding and business angels, all of which can be extremely efficient in helping fund a growing business. Existing business plans had to be reviewed and changed to focus on profit-making areas and cash control areas. My formula was revenue generation and cost reduction and working capital reduction, basically the owner was losing control of the business.

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