Alumni Success: Small Business Brilliance
November 18, 2022

International accounting made easy
In recent times, cross-border transactions have become quite easy thanks to the new-age accounting firms that have made international transactions a cakewalk. Within a few minutes, we can transfer money worth millions from one country to another. This has helped tremendously in the cumulative GDP growth of the world. Today, we are going to talk about one such accounting firm – Euro Accounting Limited – which is making lives easier for hundreds of people across Europe by helping in their accounting needs.

Founded in 2010 by Shabir Djakiodine, Euro Accounting Limited provides an excellent level of service tobusinesses wishing to invest in the UK or to UK businesses wanting to invest in Francophone countries. In its over decade long service, the company has never compromised with the top-class service since its outset.Shabir is supported by four managers (accounts, tax, payroll and HR, VAT)who are responsible for the delivery of day-to-day services and staff guidance and training. One of them is responsible for managing the firm’s office in Paris.Everyone is bilingual and most speak several languages.

Shabir has a practice in France and the UK but the firm also work with the whole of Europe (Switzerland, Ireland, Spain, Italy, Germany etc) and beyond thanks to their network. They work on company incorporation, domiciliation, accounting, VAT, financial statements, HR, payroll, taxation (including international tax) financial statements, management accounts and consolidation.

Experience of working with major MNCs
Hailing from Madagascar, Shabir grew up in a tight-knit family as a French speaker.After leaving Madagascar, Shabir studied in France and Sweden and worked with Deloitte and several multi-national companies in France, Switzerland,New Zealand and the UK. His professional focus is on businesses interested in cross-border transactions and international operations. He speaks 5 languages and is a humongous globe-trotter which is evident by his travel to 112 countries.Apart from this, he is also a judge in Mediation and Arbitration in Geneva and Paris with Cimeda, “Court Internationale de Mediation et d’Arbitrage” or “International Court of Mediation and Arbitration”.

The seed to his entrepreneurial journey was sowed when he was a boy. He was interested in business and how people worked with each other and made a living. The international organisations for which he worked later provided excellent technical and business training, but the level of dedicated service delivery was wanting. “This, together with boyhood entrepreneurial desires for my own business, led me to take the risky step of establishing my own practice without a single initial client as well as needing to support a growing family”, adds Shabir.

Energy, commitment, and sheer determination won client support in this niche and the early start-up concerns soon faded as he became ever more focused on clients’ business concerns rather than his own. Besides Euro Accounting, he handles several other businesses as well. Hard work, enthusiasm, commitment and seeing things through their clients’ perspective have proved the foundation of Euro Accounting’s growing success.  This success has helped them win many accolades. They have been finalists fora number of awards in the UK in only 2 years. The company has been a finalist in the following awards:

    • Business of the year 2022
    • International business of the year 2022
    • Leader of the year 2022
    • Tax team of the year 2022
    • Employer of the year 2022
    • Diversity and Inclusion 2022
    • Best international organisation for business culture 2022
    • Business Culture Team 2022
    • Best International organisation for business culture 2021
    • Employer of the year 2021

It is extremely rare to have an accountancy firm having so many awards in so little time.Also, Shabir has been listed as a Business Person of the year 2022 finalist.

Most diverse team
Euro Accounting was also selected to be part of the Goldman Sachs 10,000 Small Businesses program, which is a fully-funded program by Goldman Sachs with the collaboration of the University of Oxford Said Business School and that supports the most forward-looking small businesses that seek significant growth.

However, traversing this far was not a child’s play. For Shabir, starting Euro Accounting without a single business lead was an enormous challenge, both professionally, to ensure a practice could be developed successfully that provided excellent service, and personally because of the need to support his family.

The recent Covid pandemic was another big challenge. A novel virus and an unprecedented response in businesses being required to close.The whole team’s resilience was called upon and together they rose and exceeded what was required. They now have a closer-knit team than ever, including their staff overseas, and new, more flexible, and effective ways of working.

What makes the company unique is most unusual team. Presently 21 strong, they speak 13 languages by birth and come from a wide variety of ethnic backgrounds including France, India, Pakistan, Madagascar, Morocco, Yemen, Mauritius, Kenya, Egypt, and the UK. The goal is for them to fulfil their collective ambition in working together to support a growing number of international businesses with complex and interesting demands. This will enable the business to grow and provide scope for career progression for this amazingly diverse group of people.

Working for a noble cause
They aim to use business success and a growing client list to funnel more funds back to Madagascar to support a charity Shabir has established there, Fossa International, which helps to support children, schools, and orphanages.

Besides his professional commitments, Shabir is a fitness freak. He has been doing karate for 25 years. He is a second Dan black belt and still practices on a weekly basis. He also goes to the gym, do biking, cycling and skiing. He loves travelling as well.

Shabir advises people to be clear about their vision for the business and values and then communicate them clearly. Set and expect high standards, listen closely and be fair to people. Bear in mind that yours is the example that people will likely follow – so behave courteously.

 

Link to article: https://ceoreviewmagazine.com/lounge-interviews/shabir-djakiodine-chartered-accountant-euro-accounting-ltd/