Home > Business Finance News > SMEs boost growth of Northern firm

SMEs boost growth of Northern firm

Published On 20 February 2007 at 15:24:01

A firm in the north-east has become a multi-million pound business - thanks to entrepreneurs and property owners.

Legal and financial advisory service SFM, based in Gateshead, has only been running for four years, yet it expects annual turnover to double next year along with the creation of 40 new jobs.

Malcolm Graham, founder and managing director of SFM, established the company after he saw a need for specialist lawyers working in tax planning and financial advice.

He and believes that property owners and entrepreneurs have helped play a vital role in the development and expansion of the firm, given the vast amount of entrepreneurial activity and increases in property value.

Mr Graham told the Northern Echo: "No one likes paying too much tax, and our advice has meant that we are now recognised in this sector.

"A lot of our work also comes on the back of the effect of wider changes in society, such as the rise in property millionaires, and high divorce rates creating asset division and protection issues.

"Our success in just four years of business has proved that there is a real need for professional, wraparound advice that spans a client's financial, property, business, estate and tax affairs."

 

Related Business Finance News:

• FPB urges SMEs to prepare for higher interest rates
  8 June 2007 at 12:21:42
  A group which represents the interests of small and medium-sized enterprises (SMEs) in the UK has advised its members to take advantage of the Monetary Policy Committee's decision not to increase interest rates, and look for good fixed-rate loans.
• Businesses welcome rate decision
  7 June 2007 at 12:46:24
  Business leaders have welcomed the Bank of England's decision not to increase interest rates again.
• SME tax case goes to the Lords
  6 June 2007 at 12:44:49
  The Federation of Small Businesses (FSB) has backed a small business as its case against HM Revenue & Customs (HMRC) is heard in the House of Lords.
• Rain dampens retail sales figures in May
  5 June 2007 at 12:14:59
  Bad weather during May was partly responsible for the poor retail sales figures which small and medium-sized enterprises (SMEs) in the UK recorded in the month, a new report argues.
• Further rate rises 'will hurt SMEs'
  4 June 2007 at 17:01:38
  Ahead of next week's meeting of the Monetary Policy Committee (MPC), a group representing the interests of small and medium-sized enterprises (SMEs) has urged the Bank not to increase interest rates again.
• Bank offers free services to SMEs
  4 June 2007 at 09:01:54
  A leading high street bank has unveiled a new offer to try to encourage small and medium-sized enterprises (SMEs) to switch their banking services.
• Bank offers advice to start-ups
  31 May 2007 at 12:23:30
  A leading high street bank has launched a new service designed to help entrepreneurs start their own small and medium-sized enterprises (SMEs).