What's happening with Nixon Williams?

[Addanc]

There appears to a large turn over of staff at the moment, anybody know what is happening?

[PerfectStorm]

What I know:

Appointed accountant changing every few months
People leaving a lot

What I think:

Got taken over by a venture capital firm, which is a process that usually results in good, fun companies turning to tulip in the name of the almighty dollar.

Probably killed perks, pay rises and so on and people are leaving.

It doesn't sound like a fun place to be.

[Maslins]

I can't comment specifically re Nixon Williams, but PerfectStorm does summarise what seems to be a trend.

- get a successful and popular contractor accounting firm,
- bought out by bigger competitor/VC for big bucks, ex owner very happy,
- buyer hikes prices to customers and "streamlines" staff to boost profits,
- this means client gets a much worse experience,
- rely on client lethargy to make it financially viable.

The staff at an accounting firm are critical to client satisfaction. Maybe look for a firm that's employee owned

[PerfectStorm]

I can't comment specifically re Nixon Williams, but PerfectStorm does summarise what seems to be a trend.

- get a successful and popular contractor accounting firm,
- bought out by bigger competitor/VC for big bucks, ex owner very happy,
- buyer hikes prices to customers and "streamlines" staff to boost profits,
- this means client gets a much worse experience,
- rely on client lethargy to make it financially viable.

The staff at an accounting firm are critical to client satisfaction. Maybe look for a firm that's employee owned

The trouble with every employee owned business, and pretty much any "proud independent" that you could care to name, is that they'll say "we have no plans to sell up!" right up until the point where one of the aforementioned venture capitalists gives them a very persuasive argument.

As, I believe, messers Nixon, Williams and S.J Dolan may attest? Not to mention Cadbury, David Lloyd, Sainsbury's, Land Rover...

Now the question might be: what would be the sum that would make Mr Maslin's firm rather less employee-owned?

[Maslins]

The trouble with every employee owned business, and pretty much any "proud independent" that you could care to name, is that they'll say "we have no plans to sell up!" right up until the point where one of the aforementioned venture capitalists gives them a very persuasive argument.

As, I believe, messers Nixon, Williams and S.J Dolan may attest? Not to mention Cadbury, David Lloyd, Sainsbury's, Land Rover...

Now the question might be: what would be the sum that would make Mr Maslin's firm rather less employee-owned?

I don't think any of the businesses in your middle para were ever employee owned? Do you just mean independently owned?

If Mr Maslin wanted to sell out to the highest bidder, he's too late, cos he doesn't own most of the business anymore. Barring some very niche scenarios, Maslins Ltd can't be sold. The majority of the shares are owned by a trust set up for the benefit of all the employees. Ie "the John Lewis model".

[PerfectStorm]

I like the sound of that - thank you Maslins

[Fred Bloggs]

I like the sound of that - thank you Maslins

Very impressive in today's dog eat dog business world.