SharkPod #80 ”Digitising Tax Accounting” With Cathal Noone - Managing Director - randdtaxcredits.ie

What is up SharkNation!

This week Luke and Mark sit down with Cathal Noone - Founder and Managing Director of RandDtaxcredits.ie.

Cathal has built a software platform to help companies claim back tax here in Ireland and beyond. 

R&D tax credits are big business in Ireland - while working as a Director in a Big 4 accounting firm PWC, Cathal helped his companies claim back a total of almost €1,000,000,000 in tax. 

Cathal was frustrated with the in efficiencies he saw in the process and built a webapp to automate a lot of the process and cut costs for clients by up to 50%.

Key Takeaways:

1. Build a business with an undeniable benifit for your customers ("sign up with us - save 50%").

2. Business development is key in the early stage of new ventures - building partnerships and looking for innovate ways to bring your product to market have to be central parts of your strategy. 

3.  A STEM education can give you a process driven mindset and transferable skills - setting you up for success in later life.

4. Don't be afraid to compete with incumbents in the market (like the Big 4, in this case). They will often take years to change and you can carve out your piece of the market before they have time to act.

5. Automation is coming for the accounting business.

If you would like to learn more about the R&D Tax Credits or Cathal's platform you can see more info here: https://www.randdtaxcredits.ie/home

Or reach out to Cathal directly here: https://www.linkedin.com/in/cathalnoone/

For feedback: Luke@shark.ie

Keep Moving Forward!