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Paul Walker , Co-owner , Fred Aldous
Fred Aldous is an arts and crafts store based in the UK . It has seen its fair share of changes as it has been in business for 138 years . As the company grew and moved into e-commerce , it faced finance management challenges . It made the switch from manual accounting to accountancy software platform , Xero . Using Xero to manage supplier payments has not only saved hours on an almost daily basis , but also allowed the business to build stronger relationships directly with its suppliers .
FUTURE-PROOFING A FIFTH- GENERATION FAMILY BUSINESS IN THE DIGITAL ERA
FTER MORE THAN 138 years
A in business , UK arts and craft store , Fred Aldous , has been through its fair share of ups and downs , including two world wars and a global pandemic . For Paul Walker , a fifth-generation co-owner and operator of the store , there ’ s one lesson that continues to ring true : treat your suppliers well .
Having helped countless generations of families unleash their creativity , Fred Aldous has been understandably thoughtful on expansion . After setting up shop in Manchester and Leeds , the business went onto opening its third store in Sheffield in 2020 . Expanding into more locations during this period was a gamble given the disruption caused by lockdowns , but one that paid off and helped the business grow as people searched for new ways to spend their time indoors . Throughout this , Fred Aldous has always embraced technology to improve the quality and efficiency of their business and remain competitive .
Fred Aldous ventured into e-commerce early , building an online storefront with Shopify which helped the business not only survive , but thrive during the COVID-19 lockdowns . Ensuring the business had multiple ways of serving customers was critical , but there were also finance management challenges experienced along the way which were detracting time from the job at hand : helping customers bring their imagination to life .
Recognising the importance of supplier relationships
As felt by many small business owners , managing supplier payments can be incredibly
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