Accountancy firm Hurst wants to double in size

Accountancy firm Hurst says it has room to grow in its new shiny offices at Stockport Exchange, and says it is on track to exceed £11m of fee income in its latest financial year.

In the 12 months to March 31 2024, HURST increased fee income by 13.5 per cent from £7.9m to £9m, and is aiming to become a £20m-turnover practice in 2028, fuelled by a growing national client base, extensive recruitment and new service lines to support its ambitions, alongside a multimillion-pound investment in technology.

The firm moved its headquarters last spring to a flagship development in Stockport to accommodate its growing team, which includes an increasing number of recruits from larger firms across the UK.

Its relocation to 3 Stockport Exchange, where it occupies 11,000sq ft, has given the firm room to expand from 120 staff to around 170.

Clients include S.J.M Concerts, Kinaxia Logistics, M&I Materials, Beechfield Brands, Duerr’s, Oliver Valves, Lancashire County Cricket Club, Krones UK, Creamline Dairies, Scapa Group and Hyde Group.

New services include a private client tax service headed by partner Karen Chadwick to enhance its offering to business owners, entrepreneurs and high net worth individuals.

It has also recently launched a dedicated corporate tax compliance service headed by Ellen Feetum.

Significant client wins, including Metalor Technologies, beauty brand REFY, the Rugby Football League and Green Part Specialists.

Outlining Hurst’s ambitious plans, managing partner Tim Potter told TheBusinessdesk.com that the firm has a strong platform to build on to achieve its goals, but will remain independent.

“Hurst has always thrived by competing with national and much larger firms. In that sense, the evolving market landscape doesn’t significantly impact us. In fact, we’ve benefited from being an independent firm with a proposition that truly resonates with entrepreneurs.

“While we remain mindful of industry shifts, our experience shows that neither clients nor staff are particularly drawn to these changes. Our shareholding partners are fully prepared to invest for the future, as demonstrated by our new office, the development of new service lines, and our strong push to embrace AI.”

Potter added: “We have good, solid foundations from which to propel our growth in a measured way.

“This involves continuing to focus on providing a genuinely caring and friendly service and excellent value to our growing client base, ensuring they have a pleasant experience with us by obtaining sound commercial advice to help them achieve their goals, together with the technical abilities of our team.

“At the same time, the essence of our firm is a great culture. Looking after our people really well so they are inspired and motivated to achieve success for our clients is key to our ethos.

“This combination is helping us to win more business nationally, although our focus remains on the North West.

“In the North West alone, we act for businesses with a combined turnover of £10bn as we continue to expand our client base. The region has a thriving business community and is a vibrant area of entrepreneurship and innovation.

“There is plenty of scope for further expansion for Hurst both in the North West and beyond.”

Potter added: “Over the past 12 months we have invested in the business on a significant scale, with our new offices, key appointments, new service lines and by embedding new technologies within the firm, including AI-driven digital platforms.

“This programme will continue to enable us to further enhance our service offering. We have also stepped up our leadership training provision with a global provider to nurture the next generation of senior leaders, and will be launching a bespoke proposition to help clients integrate and develop their AI offering within their businesses, and adding further service lines.

“The practice remains buoyant and confident for the future. With our continued investment in talent, technology and service innovation, we are well-placed to deliver sustainable growth and create exciting opportunities for our people and clients alike.”