W L INTERVIEW
50 YEARS, STILL COUNTING
How Pennington Williams has built five decades of success on independence, personal service and sound business advice.
Sound business advice, not box ticking – the success behind one of Wirral’ s oldest, independent accountancy firms as it celebrates 50 years
Wirral has seen many changes over the past 50 years, but Pennington Williams has remained a constant.
Already one of Wirral’ s longest-standing accountancy firms, its enduring independent status and female directorship make it an even rarer find. And it’ s unlikely any local practice could match the grandeur of its current( but soon-to-be-vacated) offices – the imposing sandstone building, Stanhope House in Bromborough, built in 1633.
To celebrate half a century in business, Pennington Williams director Lisa Bean gives her take on the past, the future, and what still matters, just as it did in 1976.
On Wirral as a place to do business
Liverpool and Chester often take the limelight, but Wirral also has a hub of business and entrepreneurship. The Wirral International Business Park alone is home to more than 150 businesses! We’ re particularly passionate about helping small enterprises as they grow and Wirral businesses have a lot to offer, particularly to others in the area. We’ re very supportive of each other. One of our very Wirral niches is advising marine pilots at Woodside who guide the commercial ships down the Mersey.
On the benefits of being independent
We can offer a truly personal service. Sometimes franchised or acquired firms are restricted; they must operate and speak to clients in a certain way and may be limited in what they can offer. We build our services entirely around the client, listening to you and interpreting your needs – everything from compliance to business valuations. We can even be the financial expert on your Board.
On adapting to be fit for the next 50 years
We’ ve got the flexibility to adapt to the political landscape and technological advances. The past 50 years have shown us that! Change is constant, but we’ re always focused on helping our clients’ businesses and finances work for them, whatever your industry or size.
AI has its uses – making processes and research more efficient and generating ideas – but it can’ t replace the human element: knowing a client’ s business inside out, their history, other income streams and what makes them tick. Relationships and good advice are as important as ever.
When it comes to technology, we meet our clients where they are. Some are tech savvy, some still use pen and paper, and that’ s fine. We would never stipulate the systems or processes you need to work with us. Some accountancy firms do.
On what advice is the same now as in 1976
Planning and preparation never go out of fashion. Keep on top of that business plan! After the bank’ s seen it, many owners file it away and forget about it. You need to review it regularly to ensure it’ s still guiding you in the right direction and that you ' re making timely decisions with the right information. For instance, spending £ 100,000 in the next six months could be a great idea if you’ re clear on cash flow, but if not, it could impact your working capital and the future of your business. You may be a new venture or longestablished, but if your strength isn’ t business planning, we’ re here to help.
On doing business in an historic house
Stanhope House is synonymous with Pennington Williams. We’ ve been there since 1984, along with some of our long-standing clients. It’ s a Grade II, three-storey listed building, almost 400 years old. It’ s full of quirks and historic features, from a stone in reception with amazing carvings to the boardroom with impressive wood panelling, a stone fireplace and window etchings.
We hosted a historical dig during my time there and I was told there’ s a tunnel at the edge of the property that goes all the way to Cammell Lairds, which smugglers used. There’ s also a cellar, but I’ ve not got the temperament to go and take a look!
It’ s sad to leave in many ways, but we’ re looking forward to starting the next 50 years in a building fit for the future – a new home for our team and a bright new space to welcome our clients.
www. penningtonwilliams. co. uk / Social media @ pwaccountants
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