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Ignition Strategic Communications

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MIRACLES HAPPEN—SMALL VIRGINIA PAINT CONTRACTOR GROWS A MULTI-MILLION DOLLAR BUSINESS BY OUTSOURCING BACK-END OFFICE FUNCTIONS

Fiducial Advisors Say Too Many Small Business Owners Are Awash in a Sea of Administrative Tasks and Challenges And Fail to See the Path to Success

COLUMBIA, MD (October 23, 2003)—Owning your own business—it's part of the American dream. But many who do so find themselves quickly drowning in administrative detail rather than performing that tasks that will lead to success. Glen Miracle of Chantilly, Virginia, knows the story well.

After starting a three-person painting business in the 1980s, Miracle says he saw the administrative trap and took steps to avoid it early on by signing on with an outside business advisor to handle all the back-end office functions.

"I knew how to work with customers," Miracle said, "but I needed help with the business basics - like making sure we were set up correctly and filing the proper taxes and returns."

Miracle hired Bill Duvall, an advisor with Fiducial, an international business outsourcing and financial planning firm devoted to small business. Duvall runs a Fiducial practice in Manassas, Virginia, part of the company's network of more than 700 offices nationwide.

"The number one complaint I hear from small business owners is that 6 months after opening their doors, they don't feel like they own the business, they feel that they've just gone out and found another job," said Duvall. "By alleviating the accounting, payroll, tax planning and other administrative functions, I help my clients focus on what they enjoy. And when they're focused, they grow and succeed."

Today, Miracle's 40-person NVS Kitchen & Bath has projected sales of $10 million with a plan to increase business by $5 million annually. As part of a strategic expansion, Miracle just announced that he is negotiating the purchase of an 18,000 square foot building.

Miracle attributes much of his success to his 16-year relationship with Duvall which allowed him to focus on running and growing his business, while Duvall managed the back office functions, including accounting, payroll and taxes. Duvall also provided strategic business counsel, enabling the company to continue steady growth even through the recession of the early 90s.

"Bill has been a part of every decision. He advised me on hiring staff, buying equipment, tax planning - even what accounting software would work best for my company."

Miracle says the return on the investment he made in his relationship with Duvall and Fiducial is his success. "The Fiducial philosophies in support of small business, combined with Bill's dedication and skill, are an indispensable part of my achieving my dream."

About Fiducial
Fiducial is an international provider of professional business outsourcing and financial planning services to small businesses and individuals. Established in Europe in 1970, the company is currently the ninth largest accounting firm in the U.S. and the thirteenth largest in the world. Privately held with revenues exceeding $600 million, Fiducial has over 6,500 employees worldwide serving 185,000 clients.

Fiducial entered the US market in 1999 through a series of strategic acquisitions and now serves clients nationwide through a network of about 600 franchised and 25 company-owned offices. In the United States, Fiducial's mission is to provide outsourcing services to very small businesses, enabling them to grow and be profitable. Providing a one-stop shopping experience to its clients through its unique business model that combines the warm, strong contact of neighborhood professionals with the efficiency of today's technology, Fiducial offers an array of services along 8 business lines: Consulting, Accounting and Financial Reports, Payroll, Tax, Financial Management, HR, IT and Legal Services.

Led by Fiducial's Worldwide Chairman and CEO Christian Latouche and US operations' Executive Vice President Yves Morard-Lacroix, the company's US operations are headquartered in New York City and rely on its Technical and Administrative Support Center (TASC) in Columbia, Maryland for support.

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