COMMUNITY
CHALLENGES FACING PROFESSIONAL SERVICES FIRMS
POSITIVE ABOUT THE FUTURE
He also thinks that less networking by professional services practitioners, and businesses in general, is partly to blame.
As a keen promoter of international business, Hayward is excited by the benefits that the new Solent freeport will bring to the wider local economy. The region’s growing reputation in research, like Southampton University’s Cancer Research UK Centre, is another significant driver of growth that he believes will generate new business opportunities. Against this backdrop, Hayward believes BDO Southampton is well-placed to prosper having cemented its position locally as the leading adviser to the mid-market over the past few years.
Regional economic progress has to be driven by business leaders – and they need to know each other and each other’s businesses. Looking ahead in the professional services market place, he sees more local niche accounting and legal firms emerging – “whichwill keep bigger firms, like BDO, on their toes” – and he is wary of a post-Covid “war for talent” in the professional services sector.
I’m leaving the firm in a stronger position than it has ever been, both in terms of its size and the quality of its client base.
MORE SUPPORT NEEDED FOR ENTREPRENEURIAL BUSINESSES
You could say that a retirement age of 67 is relatively long in the tooth, but Hayward doesn’t see it that way.
Despite these parting criticisms, Hayward is positive about the region’s prosperity, especially growth from its ports and technology and life sciences spin-outs from its leading universities. He was an active contributor in many successes, including as a mentor at the SETsquared business incubator, a partnership between Southampton, Surrey, Bath and Bristol universities and a supporter of the facility at the Southampton Science Park at Chilworth. More could be done to bring local businesses and universities closer together, he suggested.
With four non-executive directorships now wanting to take up more of his time, Hayward clearly has no intention of, as he puts it, “just sitting around or playing golf”. Many of my friends retired in their mid-50s. There’s an easy answer towhy I didn’t: if I lovewhat I do, I’m still contributing to the firm’s success and regarded positively by those aroundme, thenwhywould I want to stop?
As an adviser to of the University of Portsmouth’s Business School I encourage businesses to use the academic resources available on their doorstep – the support universities can give businesses is often misunderstood and undervalued.
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