I speak to a lot of my influencer friends and they don’t know a lot when it comes to finances. The knowledge I’ve acquired comes from Nordens and its educational resources. Hold tight Darren, hold tight Mitch, and all the crew who have genuinely helped me so much. Of course, more can always still be done especially right across the accountancy industry. I’ve said this to Nordens that the social media industry is desperate to acquire this knowledge and progress it forward from its infancy, cowboy-like era it’s currently in. There’s so many little rules and pieces of legislation that the average person doesn’t know about.
I’m lucky that Nordens have a specialist team for those within the creative and media sectors, so they have the experience needed to deal with my finances. Nordens are definitely ahead of the game and I can’t commend them enough.
Stevo The Madman
The Brief:
Stevo The Madman, known for his organic rise in the social media industry, transitioned from a football career to become a digital storyteller and influencer. His journey included challenges related to monetisation, tax implications, and financial management in the evolving landscape of social media. Nordens, with expertise in creative and media sectors, became Stevo’s trusted financial partner, offering compliance services and essential advice.
Challenges and Solutions:
Stevo acknowledged the complexities of social media finance, especially in the absence of formal education on tax implications.
Nordens played a crucial role in providing Stevo with the necessary financial education, demystifying tax regulations, and explaining the basics of financial management. This empowered Stevo to understand and navigate the financial landscape of the social media industry.
As a pioneer in the social media industry in the UK, Stevo faced challenges related to compliance and tax regulations specific to influencers. Nordens, with a specialist team for the creative and media sector, guided Stevo through compliance requirements. This included addressing issues related to monetisation on platforms like Snapchat and adhering to US tax rules and regulations for payments.
Nordens provided tailored advisory services to Stevo, aligning with his vision for business growth and profile enhancement. The collaboration involved strategic planning, financial forecasting, and guidance on expanding investments. Nordens‘ advisory support contributed to Stevo’s ability to navigate the ever-changing dynamics of the social media landscape.
Stevo shared insights into challenges faced by influencers, including the impact of regulations like #ad disclosures on post reach. Nordens assisted Stevo in understanding the financial implications of these industry challenges, ensuring compliance while maximising the reach of sponsored content. The collaboration showcased Nordens‘ commitment to addressing specific issues within the social media industry.
The Result:
Through Nordens' educational efforts and advisory services, Stevo gained the knowledge needed for informed decision-making in his business ventures.
This included understanding the financial impact of industry changes, ensuring compliance, and optimising strategies for success. Our compliance services ensured that Stevo’s financial operations adhered to regulatory standards. The guidance provided by Nordens equipped Stevo with the tools to navigate the unique challenges of tax regulations within the social media industry.
The collaboration between Stevo and Nordens exemplifies a successful partnership in an industry marked by constant change. Nordens not only addressed Stevo’s individual financial needs but contributed to the progress and education of the social media industry as a whole.
Stevo acknowledged the need for more awareness and education within the social media industry regarding finances and taxes. Nordens, through its specialised team and collaborative efforts, showcased a commitment to promoting financial awareness and supporting influencers in their financial journey.
The Perfect Partnership
Nordens' partnership with Stevo The Madman goes beyond traditional compliance and advisory services.
It reflects a commitment to education, industry progress, and addressing the unique challenges faced by social media influencers. The case study highlights the role of Nordens in empowering individuals like Stevo to navigate the financial complexities of the creative and media sector while contributing to broader industry awareness and development.
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