Vermont Press Releases

Reconciled wins minority-owned business of the year award

News Release — Reconciled
April 17, 2019

Burlington — Local cloud-based company Reconciled is honored to join a long list of outstanding small businesses as the winner of Vermont’s Small Business Association’s Minority-Owned Business of the Year award.

CEO Michael Ly started Reconciled in 2015 after moving to Burlington and discovering that many clients weren’t keeping good financial records. Michael realized he could solve the problem — on a local level and beyond — with cloud-based accounting tools.

In under four years, Reconciled has grown to a staff of over 20, serves over 100 customers monthly, and has surpassed the seven-figure mark in revenue. The company has also opened offices in Charlottesville, Los Angeles, and Denver. “I would not have guessed it would have gotten this big or grown this fast at all,” Michael says of Reconciled’s extraordinary growth.

Michael’s parents immigrated from Cambodia, and most of his family members are entrepreneurs. He credits his entrepreneurial and consulting background for getting Reconciled off the ground so quickly. But what really keeps them growing, he believes, is their ability to earn — and keep — client trust.

“Accounting itself is not sexy, but what is is when entrepreneurs can feel that they are thriving. That’s what our team does: we make sure that they’re able to make educated financial decisions because of accurate numbers,” says Michael. “The feedback we get from our customers is that they actually love our bookkeepers, which is a rare thing to hear.”

The SBA award recognizes the impact of entrepreneurs who have demonstrated outstanding leadership, innovation, community initiatives and commitment to local economic growth. Ly and other local winners will receive their awards at the 2019 Vermont Small Business Awards Ceremony in June.

About the U.S. Small Business Association

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National small business week has been running for over 50 years with the purpose of highlighting outstanding contributions of American entrepreneurs from all 50 states. Winners of the SBA awards join the ranks of some major household names, including Ben & Jerry’s and Tom’s of Maine. For more information on the National Small Business Week Awards, visit the U.S. Small Business Association website.

About Reconciled:

In 2015, Reconciled opened in Burlington, VT, using the most innovative, best-in-class digital tools to provide online bookkeeping services to entrepreneurs and small business owners throughout the U.S. and beyond. Reconciled’s dedication to innovative technology use made them Intuit’s 2018 U.S. Firm of the Future. Their team of U.S.-based accounting professionals has a broad range of proven industry experience. Reconciled now employs a growing team of 20 dedicated professionals, and has offices in Burlington, VT, Charlotte, NC, Denver, CO and Los Angeles, CA.

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