20 focus on Reading
The outlook is bright for Thames Valley businesses
It may have been a summer of Olympic enjoyment, but for RSM Tenon’s Ali Sapsford and Mike Loftus the coming months are equally exciting, writes John Burbedge
In July Sapsford was promoted to head up the 110-strong Reading office, at the heart of the vibrant and internationally respected Thames Valley business economy.
“Reading provides all the professional opportunities and challenges that one could wish for,” explained office managing partner Sapsford.
“Our workbook mirrors the Thames Valley with a strong owner-managed/SME base plus a good number of large corporates and multinationals. The market is diverse and dynamic, from technological startups to international traders, entrepreneurial lifeblood to growing businesses and well- known blue chip companies – plus it’s a nice part of the country to live in.”
Mike Loftus the firm’s business development consultant, added: “Reading has a permanent buzz all year round, and has everything that’s required. Our office, for example, is within a few hundred yards of all the services, contacts and travel links that we need for our work.”
For Sapsford, there is pride too in her team. “We are an entrepreneurial, SME and mid- market focused team; very much partner-led and hands-on in our work with clients. Business issues tend not to be contained to just tax or corporate finance, so we have developed a really good group of professionals who are very happy having broader business conversations with clients.
“It’s a real strength that we have the right level of professionals to service the market properly, yet we are not so big that we don’t know what each other is doing. We provide all the different service lines, and we are a cohesive unit that works together well.”
Internal communication is assisted by the attractive open-
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plan design of RSM Tenon’s offices in Davidson House, an integral part of the thriving Forbury area of Reading. Colleague consultations or specialist skills required for client matters are easily sourced in such surroundings, not forgetting the firm’s global link to RSM International, the sixth largest network of independent accounting and consulting firms worldwide, with over 700 offices in more than 90 countries.
“We also have a pragmatic yet flexible commercial approach and we often get asked to work alongside other advisers on larger projects.” With a renewed focus on corporate governance, few businesses retain a single adviser nowadays, Sapsford added.
Loftus’s own lifelong links with the Thames Valley and its financial sector provide a living testament to RSM Tenon’s very wide-ranging experience and skillbase. “We can do it all, plus we understand the mindsets of clients from start-ups to major corporates.”
“Companies don’t want an organigram of a firm’s services, they want practical professional expertise and experience, a personal relationship with reliable and trusted advisers, and that’s what we provide,” said Sapsford. RSM Tenon’s Client Care Programme provides valuable feedback on its performance.
It’s an approach that is successful and popular. Since 2010 the RSM Tenon Reading office has grown by over 10%.
According to the World Economic Forum Global Competitiveness Report the UK has risen to the eighth best country in which to do business – “firmly back at the top table” – but we are still hampered by economic debt, high taxes, and ‘red tape’.
Sapsford and Loftus certainly THE BUSINESS MAGAZINE – THAMES VALLEY – NOVEMBER 2012 Ali Sapsford and Mike Loftus
agree with the last two, and see the RSM Tenon Reading team being even busier in coming months assisting with client concerns over the Income Tax rate for higher earners, the upcoming HMRC introduction of Real Time Information for PAYE, and automatic pension scheme enrolment.
Ongoing concerns? Sapsford highlighted the cost of employing people, and businesses failing to make the most of R&D and Patent Box tax advantages, while Loftus said funding may remain difficult. “The banks are open for lending, but they now need the right deals to be supported by well- founded detailed business proposals.”
With the HMRC also shifting administrative responsibilities onto businesses, the need for operational efficiency and cost- effective professional assistance is growing.
“It is incumbent on clients and advisers to know the value of advice. We get to know our clients well, understand
their internal resources and capabilities, establish what needs to be done, then operate in the areas where it makes most sense for us to do so,” said Sapsford.
Business confidence is a continuing problem, despite some tangible success among Thames Valley companies. RSM Tenon’s recent quarterly Business Barometer, undertaken by YouGov, showed SMEs in the south equally divided over post-recession prospects, with most seeing the Olympic Games’ economic legacy as having little lasting impact on their business futures.
But, Sapsford has perceived a fresh Thames Valley realism. With ‘bank-bashing’ easing off, owner-managers and SMEs now recognise the business world has changed and they need to be masters of their own destiny.
Details:
www.rsmtenon.com RSM Tenon offices: Reading – 0118-9530350 Marlow – 01628-478100 Basingstoke – 01256-312312
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