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Rakesh Shaunak

Rakesh Shaunak. The Changing Business Model - and our response to it. Where are we in the cycle?. Views vary, what do you think? We believe it is the curate’s egg UK revenue still flat Audit under severe pressure, nobody gladly buys an audit Big 4 evermore present in SME market

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Rakesh Shaunak

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  1. Rakesh Shaunak The Changing Business Model - and our response to it.

  2. Where are we in the cycle? • Views vary, what do you think? • We believe it is the curate’s egg • UK revenue still flat • Audit under severe pressure, nobody gladly buys an audit • Big 4 evermore present in SME market • Associations did well • Tax strong, advisory mixed but worst behind us? • Corporate Recovery unexpectedly slow

  3. Key messages of recent times • Changing client expectations • Changing work patterns – the Cloud • Multidiscipline - Legal Services Act • Service Quality not Technical Quality

  4. Time for change • Business are not numbers or market forces, they are made of ideas put into action • “Old” model now dead? • Obsession with exactitude immensely constraining • Clients buy the ends not the means • Skills and specialism as important as experience • Leverage your intellectual capital • Laterals or home-grown? • Scale, or at least footprint, essential – but how best to achieve?

  5. How we compete • Market Offering • Sectors – Focused delivery • Services - Expanding range, some “non-core” • Differentiation – total quality service • Diversification – outsourcing, strategy, training • Positioning – a business partner • UK - MHA • International – MI filling the gaps and appealing to outbound and inbound

  6. MHA is the new national association of which MacIntyre Hudson is the founding member What is the aim of MHA? MacIntyre Hudson Association aims to increase growth and profitability for its member firms, while allowing them to retain the name and brand loyalty that they have built up within their region or practice area. It is designed to give clients access to full national and international coverage and a full range of services.

  7. MHA statistics We are a UK association of independent accountants and business advisers • 7 member firms • 34 offices nationwide • 141 partners and 1255 staff • £78 million turnover • UK member of Morison International

  8. MHA Sub-Groups – The Force behind the push Technical discussion Win new work Sub Group Share material / ideas Best practice Promote MHA Aid Business Development

  9. MHA • Growth up • Credibility up – expertise, size, coverage • Risk down • Access to bigger ticket work improved • Sharing of best practice • Challenges – no surprises here but: • Communication, marketing, systems

  10. Key Issues for the Future • Keeping up with client expectations • Work life balance • Attracting the talent • Retaining the talent • Is the single partnership still the right model? • Exit strategies

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