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I’m delighted to once again report a really strong year of growth for Haines Watts in which we’ve seen the firm rise one place in the Accountancy Age Top 50 firms to be the 12th largest firm in the UK.

This year sees us recording a second consecutive year of double-digit growth taking Haines Watts to a £96m turnover group.

Despite the uncertainty around Brexit we have achieved 13% leap in revenues from both organic growth and an active acquisition strategy.

Acquisition

£11m turnover was acquired during the financial year as we took over new businesses in London, Birmingham, Liverpool, Bristol and Nottingham with acquisitions in the North East to flow into next year’s accounts. Overall new acquisitions have formed 7%, around half, of the company’s overall growth this year.

More services

With the addition of new businesses to our group, we are steadily expanding our service offering which is leading to a rounder advisory service with existing clients and generating new fee income. We are now able to advise wider on complex tax matters and private client work; we are fully able to provide business owners advisory support in today’s challenging climate.

Investment in people

We’ve also recorded double digit growth of profitablity at over 10%, albeit slower than FY18 which is down to our businesses investing heavily in people recruitment, tech and office environments, a trend we will continue.

We have spent a lot of time working on developing our people in the last few years through our leadership development programme which has been well received. From this we have rolled out our ‘coaching for success’ programme across the business and we are preparing for a company-wide vision and values project to tie in with this which will prime everyone for a very powerful growth opportunity.

The year ahead

We have spent 2019 looking at where every region is in their business cycle and have benchmarked best practice levels – effectively we’ve been getting our ducks in a row which will now leverage our organic growth opportunity. We intend to recruit further across all our service lines and functional support to facilitate regional growth further in 2019/20.”

 

 

Find and contact your local Haines Watts office

About the author

Michael Davidson

Michael is the driving force behind the success of Haines Watts expansion in and around the M25 region. Michael joined Haines Watts in 1991 as a trainee and became a Partner in 1999. He specialises in, and is passionate about, advising owner managers with turnovers from £1 million to £20 million.

He challenges clients on their business and delivers advice in a very pragmatic way. Being an owner manager himself, his advice extends beyond financial input and he supports owners in managing the business through it‘s various cycles. This advice is underpinned by a ‘practical’ MBA completed at Cranfield School of Management.

Michael was voted on to the national Haines Watts Group Board in April 2008 and was made Group Managing Partner in 2018.

 

I’ve always thought it’s important to work with people you like – be it business owners, my team, suppliers or business acquaintances – so that you can laugh together and share the drama of experiences on the OMB rollercoaster.

I also think it’s very important to stay humble and be able to laugh at yourself.

I fear the day I don’t, to all of the above.

If I wasn’t doing this I’d be: a sports journalist.

Favourite Sports Team: Chelsea.

Dream Location: Naples, Florida.

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