A Decade of Calculated Success
Published on 8 September 2014
With its roots firmly based in Dundee, Tayside Chartered Accountancy firm EQ Accountants LLP is forecasting an exciting future as it celebrates its 10th anniversary.
The company, which is currently working with 1,600 clients compared to just 950 back in 2004, has ambitions for ‘fairly significant growth’ over the next 12 months.
Speaking from his office in City Quay, David Cameron, Managing Partner, EQ Accountants said, “We have some very exciting growth plans in the pipeline which will see us extend our geographical reach. However, at the same time, we are extremely committed to Dundee and its role as our base is crucial as we move forwards.”
Having launched with 39 staff, EQ now employs a team of 70 staff across both its Dundee and Forfar offices, a number which can only increase in the months ahead.
Mr Cameron continued, “In order to support our ambitions and bring them to fruition, it will be necessary to recruit into a number of different roles within the organisation and we very much look forward to boosting local employment as a result.”
Of course, as well as EQs success, its client base is also reaping the rewards of the city’s radical transformation.
Mr Cameron commented, “The region’s economy has improved fairly significantly in the last 18 months or so and our clients are echoing that, with most finding life a lot easier than during the recessionary period. A number of those clients are going on to kick-start expansion projects which were previously in the planning stage. Of course, that’s a general impact of the economy further afield but I do think there is a ‘feel good factor’ in Dundee because of everything that is going on.”
Commenting on the Waterfront development, just a stone’s throw from EQ’s Dundee office, Mr Cameron is encouraged by the fact that the likes of Malmaison have already taken the leap of faith by opening a new hotel in the city and he believes, over the course of the next couple of years, a number of others will follow.
He said, “What’s going on in Dundee isn’t a make-over – this is major surgery and, while it has caused a degree of disruption, we all appear focused on the future benefits we can secure. It is nothing short of visionary and the people driving this are to be applauded. I think there are opportunities for some larger players to come in and take advantage of what’s going on here. Dundee has hid its light under a bushel for a long time. The V&A has now got a lot of people talking about the city, not just here in Dundee but further afield. I think what Dundee is doing well at the moment is that everybody is working collectively and playing a part in this. Everybody is facing in the same direction and that must continue.”
“Of course, all of this coincides with an improvement in general economic conditions, and business banking returning close to pre-recession support levels. It’s impossible not to be optimistic about the future of Dundee and, for many of us who have known this for a long time, it is a great place to live and do business.”
Indeed, the spin-off effects of Dundee’s dramatic transformation are also affecting EQ’s appeal as a company within which to train and work.
Mr Cameron continued, “Within the last ten years, we have recruited and trained three specialist chartered tax advisors and 43 qualified accountants, and between graduates and other trainees, have recruited five in the last three months alone. We also have an experienced senior manager joining us later this month. There is no doubt that, in those 10 years, it has become easier to entice graduates to base themselves here in Dundee, compared to the past when many were eager to escape to the Central belt. The general upbeat vibe which we are experiencing here in Dundee is definitely proving a magnet for fresh talent and we are undoubtedly benefitting from that.”
Summing up, Mr Cameron said, “Completing a successful merger and establishing a brand don’t happen overnight – neither do they happen without a huge amount of effort from everyone involved. We’ve achieved very significant growth in people employed and in the number of clients we are fortunate to work with, and during that time we have made a major contribution to the ever growing talent pool of high quality financial professionals, locally and further afield. It’s not the time for resting on our laurels with the opportunities which lay before us in Tayside and beyond, but it seems an appropriate time to celebrate the quality of our people, our services and our clients.”
For more information, visit www.eqaccountants.co.uk