Borders accountancy firm targets capital for growth
Alan Drummond, Sheryl Macaulay and MD Darren Thomson
A Borders accountancy firm believes the time is right to step up its expansion in Edinburgh, fuelled by the number of firms and individuals adapting to the post-pandemic economy.
It is targeting a significant uplift in the number of clients from a new base in the capital to boost its £4 million a year turnover, which was up 4% last year.
Kelso-based Douglas Home & Co has four offices in the Scottish Borders, another in East Lothian and two in the north of England.
It opened a small base in Rutland Square Edinburgh in March 2019, and new business opportunities led it to secure a bigger offices in Charlotte Square. Its opening was delayed because of the pandemic.
More than 470 of its 3,100 clients are in Edinburgh and the Lothians, with 190 of those being city based. The firm believes it can add a further 100 in the capital over the next five years.
Darren Thomson, managing director, said: “We’re doubling down on our belief that Edinburgh is the platform to our continued growth.
“In fact, we believe that is even more likely now, because we are seeing the unintended consequences of the pandemic with so many key figures across multiple industries rethinking their career priorities.
“Some are choosing to retire early, while others are pursuing career changes they probably wouldn’t have contemplated before Covid-19.
“We have seen a rise in businesses re-assessing their internal structures and financial positions. That comes after 18 months of tightening their belts and also embracing new working practices.”
Mr Thomson added: “Long before the pandemic we realised that Edinburgh was crucial to our future plans.
“Our goal as a firm is very clear – we want to add 100 further significant Edinburgh-based clients to our roster within the next five years. That is eminently doable, but we believe that having a base in the Scottish capital is absolutely essential to that end.”
Mr Thomson and two of his five other co-directors – Sheryl Macaulay and Alan Drummond – will be based regularly in the Edinburgh office, along with up to 10 other staff from the 70-strong firm.