Top South West accountants are first to be awarded family business accreditation

April 4, 2011 - PRLog -- Paul Hake, Iain McVicar and Richard Bugler, Partners from Albert Goodman, undertook the ICFIB Professional Accreditation, which explores family business relationships and behaviours using real tools and skills, qualifying the Partners’ specific knowledge and expertise in dealing with a family business.

Paul Hake, Corporate Services Partner at Albert Goodman, says, “We are proud to be the first local accountancy firm that has this qualification, it will bring a new dimension to the services we can offer to our clients. We understand the additional complexities associated with family businesses, the psychologies of the family unit and will be able to help facilitate the smooth running of a family business through various tools including family constitutions and succession and forward planning.”

ICFIB general manager, Sue Merry said, “The graduates from Albert Goodman have demonstrated an enthusiastic approach for working with families in business.  As such, I am confident they share and will support ICFIB’s mission to ensure that family businesses have access to the best and most relevant support available.”

Family businesses form around 60% of all UK businesses with a turnover of up to £5million.  Regrettably, only 30% make it to second generation and less than 10% make it to the third in the same family ownership.  Key issues within a family business that may require the input of a professional advisor include, management change, governance and succession issues.  

Increasingly, family businesses are seeking specialist advisors who understand the differences and complexities of being a family in business. Family businesses differ mainly as a result of the relationships between family members.  This could involve several generations; extended family; ex-partners; siblings and spouses, leading to several owners, managers and decision-makers often with very different goals, values and requirements of the business.

Family businesses in the local area will now be able to benefit from the specialist advice available at Albert Goodman. The three Partners understand the dynamics at work within a family business and can better support the business decision-making processes, leading to more effective and efficient outcomes.

Albert Goodman has a highly qualified team of family business and finance specialists who are available to provide further guidance and advice. For further information, please contact Paul Hake at Albert Goodman on 01823 286096 or via email at paul.hake@albertgoodman.co.uk.

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Founding partner Albert Goodman established the firm in Taunton in 1866 and built his practice on the principle of providing high quality, technically excellent advice to individuals and businesses – the main principle by which the firm operates today. Following the recent acquisition of Coyne Butterworth Hardwicke, Albert Goodman has grown to rival other regional firms with more than 200 staff, offices in Taunton, Chard, Yeovil, Bridgwater, Weston-super-Mare and Weymouth and a turnover approaching £10million.

Albert Goodman has a team of thirteen partners who between them specialise in audit and accounts; business support services; business recovery and insolvency; corporate and personal tax; corporate and personal financial services and planning; IT infrastructure, accounting software and support; litigation support; and payroll bureau and VAT services.
For more information about Albert Goodman, visit www.albertgoodman.co.uk.