14 profile Going the extra mile
Griffins prides itself on being different. The Thames Valley chartered accountants and business advisers, which recently opened a new Reading office after experiencing a strong increase in business, offers a wide range of services and has ambitious plans for growth, but client care remains at the heart of the firm, writes Eleanor Harris
Growing in the teeth of a recession is as rare in the accountancy profession as any other, but Thames Valley firm Griffins has been increasingly punching above its weight, and has earned a strong increase in business despite the downturn.
Very much a Newbury-based firm for the past 30 years, Griffins expanded beyond its west Berkshire base last year and opened a new office in Reading. Today, the firm, which also has a London office, has 80 staff across its three offices, including eight partners. With a turnover of some £3.5 million and up to 2,000 clients, the firm is making its mark in the region.
Griffins sees its success as the result of a clear philosophy of helping businesses through every stage of their development. Understanding the aspirations of business owners and advising on improving profitability and ways of growing the business are all part of Griffins’ hands-on approach.
Clients now come from a broad range of sectors, including pharmaceutical, printing companies, recruitment agencies, construction, the motor industry and IT, and range in size from sole proprietors to large multinational organisations.
Partner Chris Duggan, who heads up the firm’s Reading office and corporate finance team, joined Griffins four years ago after merging his own practice in Reading with Griffins’ Newbury operation. He believes that taking a pro-active approach to helping clients maximise their results and take advantage of the opportunities ahead are what gives Griffins its reputation.
Duggan’s clients range from London-based companies to Devon businesses, but all share the common theme of wanting more from their accountants than a box-ticking auditing role. Griffins offers a full range of advisory services and sees itself as a partner in a client’s strategic planning, helping to ensure that the company achieves its desired goals.
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clients for ‘always being there for them when he is needed’. “I know that’s what everyone says,” Duggan comments, “but to be fair we are – we very rarely ever lose clients and most of the clients we get can’t believe how responsive we are. We talk a language they understand.” Unsurprisingly, much new work comes from referrals from existing satisfied clients.
The future seems bright for Griffins, which has its sights set on expansion. Duggan explains: “The firm is planning to grow geographically and we are looking for further opportunities along the M4 corridor. It’s a matter of building on our solid foundations and looking at ways in which we can grow as the economy improves.”
The market is a challenging one, of course, with global forces impacting a number of Griffins’ clients. Recruitment agencies and pharmaceutical companies are performing well, says Duggan, but difficult times continue for some other sectors: “We’re seeing the sectors that are really hurting are retail and construction, and to be honest there is still a continuation of very limited support from banks for small businesses.
Chris Duggan
For Duggan and his team, that means a diverse portfolio of work, from assisting a company with a large tax investigation, to advising on a joint venture in the medical sector, and from preparing a company for sale, to taking on the entire back-office finance function of another client’s business.
Many of Griffins’ partners and managers have their own specialist areas and interests. Duggan, for example, is a pharmaceutical specialist and also specialises in selling businesses. To date, he has successfully completed 40 business sales, each one its own specific challenge, but together proving the firm’s strong track record in the M&A field.
Duggan believes that it’s the firm’s accessibility that helps set the firm apart. “If I have to see clients in the evening or at weekends I will. If we need to respond quickly to a client’s needs, then that’s what we do. It’s a matter of being responsive and ensuring that we are working alongside the client at every turn.”
Duggan is said to be praised by THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2011
“Some of the businesses we see are looking to reduce their overheads further next year, while others feel they are unlikely to see much in the way of an upturn in sales. It’s a picture that will be familiar to many of your readers, of course.
“Our advice is to review your business to see if it is set up in the most tax efficient way and also to make sure you’ve got the right management accounts and information available in real time. That way, you can make the relevant decisions quickly depending upon where the marketplace goes.”
Griffins can assist businesses to get up to speed with that all-important knowledge.
“Client care is the most important thing to us, and trying to add value to our clients,” summed up Duggan.
Details: 0118-9235020
c.duggan@griffins.co.uk www.griffins.co.uk
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