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Association drums up new business for accountancy firms

At a time when many accountants are having to work harder than ever to drum up new business, members of an international association are finding that by working together, they can attract new business from far and wide.

MGI has a limited number of member companies in each country, meaning there are no major competition issues, but members are able to support each other and share knowledge and contacts with other firms in the UK and abroad.

And with many companies increasingly operating across international borders, MGI membership gives smaller accountancy firms a chance to offer the global reach and expertise of the international accountancy giants, without sacrificing their independence in a takeover or merger.

The global association has over 270 member offices in 78 countries, meaning that if a member’s client needs local advice, chances are there will be an MGI member nearby who can help.

Since joining at the end of last year the association’s newest member, London accountancy firm Carter Backer Winter has already received several new business referrals.

Managing partner Peter Winter said: “The MGI association has quickly become an important part of CBW – both for extending our service capabilities and for generating new business.

“CBW has directly received a number of new business opportunities from other MGI firms across the association. These jobs have varied greatly in size and complexity but all have proven to be very good introductions that are easy to convert. On the flip side, CBW has also referred clients to MGI member firms in Israel, France, Netherlands, Switzerland and Ireland.  We see the MGI member firms as an extension of our own team.”

Long-standing MGI member Watson Buckle LLP in Bradford recently used its international connections through MGI to secure specialist work with a large French engineering company, which was looking to acquire a UK-based counterpart.

Watson Buckle was selected to carry out due diligence on the confidential deal after it was recommended by MGI Audit et Gestion Sàrl who are the French company’s auditors, and a fellow member of MGI. The firm’s expertise in due diligence work led to them being chosen ahead of counterparts on mainland Europe – not to mention the international accounting giants.

Watson Buckle managing partner Susan Sedgwick said: “We are specialists in this type of work, which is something few accountancy firms do well, so we are delighted to have won the contract.

“Through our membership of MGI we already act for several UK subsidiaries of foreign-owned companies and if the deal all goes through successfully, we will be adding another substantial client to that list.”