Member Article

Chinese business acquisitions just the ticket for Durham accountants

A surge in Chinese clients has led Durham-based Valued Accountancy to realign its business services.

Acquiring a growing number of Chinese-owned businesses requiring its accountancy, consultancy and business support services over the last few months, the Consett accountancy firm has adapted its marketing literature and allocated a full time member of staff who speaks fluent Chinese to help deliver this service.

The move has already benefitted some of the region’s leading Chinese business companies such as restaurants and takeaways with most clients highly praising and commending the move to adapt and provide a tailored service that meets their needs.

Accountant Gavin Ng joined Valued Accountancy in 2014 and advises Chinese business owners on all aspects such as year-end accounts, personal tax returns, payslips, P60’s and VAT returns. Valued is one of only a handful of practices across the country that trains and implements software on behalf of Xero – the cloud-based accounting software for small and medium-sized businesses.

Stephen Paul, Owner of Valued Accountancy, said: “We have seen a steady increase in the number of Chinese business owners requiring our accountancy and business support services so we have had to adapt to meet the needs of our clients.

“There is a big Chinese population here in the North East and when speaking to business owners, they explained that not many accountancy and tax firms provided a tailored service for the Chinese market.

“We rolled out the idea of creating a bespoke accountancy package that is competitively priced with some of our existing Chinese clients and identified a gap in the market place.

“This resulted in utilising Gavin’s contacts and skills to help us to deliver our services to the Chinese community and also help tailor our marketing literature that is now also translated and available in Chinese. As a result of this, we are now seeing a steady increase in business through referrals which has seen our client base increase by 60% in the last 12 months.”

Mr Chi Kwong Yeung from Consett, said: “I run a small takeaway business and I find it hard to keep up with all the paperwork but having Gavin and the team at Valued Accountancy on board, it has taken a major worry off my shoulders – I have found them to be really efficient and knowledgeable.”

“Mr Koon Lam from Blaydon, said: “Since moving over to Valued, I have found Gavin and the team always polite, reassuring and also ways have my best interests at heart. I would thoroughly recommend Valued to anyone seeking a professional and friendly solution to their taxation affairs.”

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