Why we Specialise in Working with Businesses in the Construction Industry
The construction industry is one of the business sectors we specialise in.
We have many clients in the construction industry including specialist subcontractors, main contractors, design consultants, surveyors, civil engineers, lettings agent and property developers to name just a few.
It made perfect sense to focus on this industry as my background, before I started my accountancy practice, was that I worked in industry for 13 years, 10 of which were spent in senior finance positions with construction industry businesses.
A specialist property agency
Two property developers
A main contractor
A civil engineer
Each of these roles enabled me to develop new skills specific to that business, but all highlighted the importance of getting involved with the real work of the business to understand exactly what it did.
This business understanding enabled to make more sense of the financials – management accounts, forecasts, budgets, project appraisals, cost to completes, cost value reconciliations.
This meant I could have more meaningful relationships with non-finance business directors and managers, whether that was a Land Buyer for a Property Developer, a QS for a Main Contractor or a Construction Director for a Civil Engineer.
Being able to discuss the impact of their actions on the financial performance of the business meant they were all able to make better decisions and I was better informed.
So often the response I got was along the lines of “no-one in accounts has explained it like that before, it makes much more sense now’.
Whether that was changing the payment terms for a land purchase, re-designing a cost to complete schedule to make it reconcile with the accounting records or the need to change the build programme to help improve business cash flow.
Let’s be honest, if an accountant has clients in the construction industry and doesn’t have this type of knowledge and experience, how much value can he or she offer?
Added to all of this, my Dad worked as a bricklayer so I was always on building sites and with ‘builders’ so you could say the industry is in my blood. Even extending to a 10-year refurbishment of a 19th century farmhouse!
If you’re running a business that operates in the construction industry and want to talk with an accountant who speaks your language, please get in touch.