Botley-based independent accountant Ridgefield Consulting has celebrated record growth this year to date as the team has kept busy helping clients through the Covid crisis.
The practice, run and owned by Simon Thomas, achieved a record turnover growth of 22 per cent for the 2019/20 financial year as its continued to serve existing clients while also taking on new ones during the pandemic.
Despite the national lockdown causing lots of businesses to struggle through the summer months, Ridgefield Consulting took on four new employees since January, including a payroll manager to help with furlough payments and a university graduate who is helping manage the increase in demand.
The furlough scheme has had a huge impact on the business, with lots of clients impacted by the virus having to manage their workforces. Ridgefield Consulting decided not to charge existing clients any extra to handle their furlough claims, saying it felt wrong in a time when people were already under huge financial pressure.
Simon Thomas, Managing Director, said: “So far, 2020 has been our best year to date, with the pandemic undoubtedly driving more people to seek support from their accountants. We’ve also seen a surge in people starting their own business during lockdown, clearly using the opportunities presented by the furlough scheme to take on a new challenge that would otherwise not have been possible”.
He also said “Covid has been a challenge for a lot of accountants so we are extremely grateful to our clients for being patient and understanding the huge increase in demand that we are facing with the constantly changing government support schemes”.