Scotland lags behind in restructuring says Haines Watts hire

by Kevin Reed

More from this author

08 Mar 2012

  • Comments

HAINES WATTS' new head of business recovery has called for a ‘cultural change' in Scottish businesses.

Annette Menzies, who will head a new five-strong team based in Haines Watts Glasgow, said the country needs a more vital business recovery culture.

Menzies said: "In England and Wales there is a much more dominant recovery and turnaround culture than in Scotland. With earlier planning we believe many more businesses could benefit from specialist recovery advice and we are keen to encourage wider awareness of that option.

Menzies, who is joined in the business recovery department by four of her French Duncan colleagues, will be encouraging businesses to seek early advice on the variety of recovery strategies and solutions available.

"Established entrepreneurs and leading business figures can help promote this cultural change as the owners of struggling businesses will often seek their guidance first. More value could be retained if more recovery work was undertaken."

The creation of a new business recovery department at Haines Watts follows recent expansion in corporate finance, tax and forensic accounting at the firm. Haines Watts recently announced plans to grow fee income in Scotland by more than 50% to over £7m by 2014, and is recruiting in order to support the expansion strategy.

Richard Gibson, managing director of Haines Watts in Glasgow said: "We are delighted that Annette and her team have joined Haines Watts. There is growing demand from our clients and from the wider business community for business recovery services tailored to Scotland's SME community. "

Menzies added: "There is an outstanding opportunity to build a new business recovery practice at Haines Watts. The firm has an impressive growth strategy and has exciting plans to build market share in Scotland and further afield. My team and I are delighted to be part of the next phase."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.