20 years
supporting businesses in the region
Sharing a 20th anniversary with The Business Magazine this summer are Chartered Accountants and Business Advisers nortons. nortons recently marked the occasion with an international themed evening party celebrating not only its 20 years of business in the UK but also its global network
Andrew Norton: International network is key to success
It’s a long way from 1993, when managing partner Andrew Norton first dipped his toe in the entrepreneurial market – here he reflects on the past 20 years and his thoughts on prospects in the Thames Valley going forward.
“When we started we were very small, just myself, a PA and Pete Doyle who is now a partner and it was a very exciting time. You came in, checked the answerphone and you had a mobile phone which only made and received calls – now it’s a 24-hour world which expects an immediate response,” says Andrew Norton.
Not that he would want to change anything. Thanks to its focus on establishing an international business and strong US network, within four years nortons had cracked the £1 million barrier and has continued to grow annually in terms of fee income and staff and now has over 70 employees globally.
In 2000, nortons International Services (NIS) Europe was born, providing a network of independent member accounting firms, and five years later nortons launched NIS Asia & Pacific to drive forward into these fast developing markets. nortons Corporate Finance was set up in 2006 and the following year the team moved into its present home of Highlands House, at Spencers Wood on the outskirts of Reading.
Since then, Norton and the team have had the fast-forward button permanently down, setting up nortons India in 2008, rebranding NIS Europe as NIS Global to reflect its
global reach and opening offices in San Francisco and Austin, Texas.
He describes the move to Highlands, a manor house set in four acres of land, as a “landmark” moment which has set the tone for the business.
“For us, it was very important to have the right environment, especially for clients visiting from America. Highlands is very interesting and impressive and it’s been good for business,” he said.
“Founding NIS Global has been very powerful for us, we now have members in some 24 countries, we have known each other for years and grown our businesses together. When a client comes to us because they are looking at expanding into a new territory, we can pick up the phone and the support is there to help them find the right partner.”
Looking to the future, Norton envisages that change will have accelerated further. It is in the support and advice sector that he sees the greatest potential for future growth.
“Our culture is focused on establishing deep-rooted, long- term and trusted relationships with our clients” says Norton. “Our clients range from entrepreneurial independent companies to global businesses and we seek to provide them with tailored, practical and pragmatic advice in a friendly manner. At all times we are looking to work alongside them to the long– term benefit of their businesses. In another 10 years’ time, computers and software packages will be able to do so much more in terms of
THE BUSINESS MAGAZINE – THAMES VALLEY – SEPTEMBER 2013 nortons' 20 year celebration party
accounting skills, so it is our expertise, knowledge and ability to interpret information which will give us the edge.
“We take great pride in training our own people, giving them a good grounding across all areas and it’s nice to think we are training entrepreneurs for the future, not just accountants.”
As you might expect, being based in the Thames Valley means that technology businesses form around 80% of nortons’ client base, but Norton says there are concerns about whether the UK’s version of Silicon Valley has what it takes to compete in the future.
“We used to be seen as the area where all US start-ups would come to, but lately they are being pulled to the east of London, towards Silicon Roundabout and I think that is a concern for the Thames Valley,” he said.
“The Thames Valley has to do a lot to establish itself again. Yes we do have big name companies here and we’re not likely to lose them or the 'Silicon Valley' tag, but we do need to be more proactive into the future.”
To that end, he is worried that home- grown entrepreneurial spirit faces being 'drowned' by the current lack of funding.
“The Government saved a lot of businesses by giving them some grace periods for PAYE and VAT payments and most of them are now doing well again, but early-stage
and start-up funding is almost non- existent,” he continued.
“Where there is funding, it is expensive, it’s not easy to get new ideas off the ground any more in the UK and the danger is our best entrepreneurs will go to the US and stay there.
“We have something of a David and Goliath situation in the Thames Valley and I’d like to see big companies doing more to help support smaller firms, either through funding or offering the use of technology and facilities. There are some, like Microsoft, which are already doing so, but there must be something the others can do too and I’d like to see that develop further to help to keep talent local.”
For nortons itself, the future is focused on the international markets which took centre stage at its celebration party.
The event was, said Norton, an opportunity to say thank you to those people who were brave enough to work with the business in the early years and who placed their trust and confidence in its expertise.
And, as the firm looks to establish a foothold in yet more countries, it’s clear the world is nortons’ oyster.
Details: Andrew Norton
a.norton@
nortonsgroup.com 0118-9768980
www.nortonsgroup.com
www.businessmag.co.uk
20-year insights
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