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• Business name: Hayward Wright Accountancy Group

• Industry: Financial services

• Founded in: 2007

• Top business product: Business bank account

• Key learning: “At the beginning, I was very focused on building the business and I thought I would work out the details later - but you need to have a solid foundation to succeed.”

If you’ve got a problem with your business, Alistair has always been on hand to help. 

This commitment has helped Alistair and his business, , to steadily grow since it started in 2007. In that time, Alistair has navigated a financial crisis and a pandemic, but his client-focused approach has always kept his team busy. 

Here, he discusses his business journey so far…

Why did you decide to start up your own business? 

fairly flexible of what industry that was going to be, and I fell into accountancy. I nearly started an IT business, but I decided to train as an accountant. Years later, one of my clients told me about a friend who had a small accountancy business and she wanted to sell it. I then ended up buying her practice. 

I’ve always been passionate about helping businesses to succeed, and I felt we could do a lot more in professional services. I wanted to build relationships with my clients that went beyond filling in a tax return. That was the vision for the firm, as I was keen to work with clients throughout the year and encourage them to talk to us as a trusted advisor. 

How would you describe the early years of your business? 

It was a rollercoaster. We had very strong growth from early on, as the business already had a client bank and we then upsold additional services. But cash flow was massively challenging and then everyone was hit by the financial crisis in 2008. This was scary to manage, but in hindsight, it was a massive opportunity for us. We found many people weren’t getting the support they needed from their accountant, so we managed to pick up new clients because we had the services that could help. We offered similar support during Covid, and it’s made us really strong as a business. 

How did your business grow? 

I had one member of staff with the first practice I bought, and she was with me for the whole journey. She just retired in May 2024. Recruitment has always been a challenge, but through the years we’ve bought other practices and acquired more staff members. One of things I find really interesting is the merging of cultures and bringing people together from different practices. We also focus heavily on bringing trainees on board and that is really rewarding. 

Were there any financial products that helped in the initial stages of the business? 

During the financial crisis, we had a strong relationship with Lloyds Bank and there were some tough conversations, but they supported us. We did get some term loans from Lloyds and they worked well, especially for our acquisitions. We also used invoice discounting and I think in the right circumstances they can work really well, especially in the short-term if you have cashflow challenges. But it wasn’t a long-term solution for us. Direct debit was also a game-changer for us, and we now use Go Cardless as there is good integration with our accounting software, Xero. 

How has your relationship with financial products changed over the years? 

We’ve been working with for the past 12 months and they are incredibly supportive. We use Allica’s business bank account and you get a relationship manager who is able to support you as your business evolves. This is something we always recommend to our clients. It’s incredibly powerful to be able to pick up the phone and talk to someone. I think this is one of the reasons new businesses struggle to decide what financial products they need, as they aren’t getting the right support. Relationship managers can guide you through this process so you have the confidence that it’s the right product for your business.  

I love how financial services products have evolved over the years. There are a number of  different products available, but it can cause confusion, so there needs to be some more support and guidance. 

What’s next for your business?

We currently have 34 employees and last week we presented our plan for the next three years to them. We have a lot of ambition and we plan to boost growth via more acquisitions and organic growth. For example, we are aiming for two acquisitions next year and we are talking with Allica Bank about the possibility of financing for that project. We have big numbers to hit but I’m confident in our plan to reach the targets. 

What would you say to someone who’s about to start their business? 

At the beginning, I was very focused on building the business and I thought I would work out the details later, but in hindsight that isn’t the way to be - you need to have a solid foundation. 

It’s also important to have a good support network around you. Talk to bank managers, solicitors and other business owners because it can be really lonely. I had a strong network and there are times when you just need someone to talk to that’s had a similar experience. Plus, ask others what financial products they are using because this will help you in the early stages of running your business. 

This case study is for informational purposes only and is not intended as financial or professional advice. The results described are specific to the individual's personal experience, so please consult with a qualified professional if you need financial advice.