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Six-Figure Deal Launches New Accountancy Firm with Support from Finance Wales

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Two long-established accountancy firms, Fergusons and Harvey Peters & Co, have come together in a six-figure deal supported by UK Steel Enterprise and Finance Wales.

The new practice – Fergusons & Peters – has offices in Gorseinon and Pontardawe and is planning to invest in the latest technologies to provide local businesses with excellent development advice and support.

As the accountancy profession awaits the government’s announcement on fully digitising the tax system, firms are very much aware of the need to prepare for the future.

“As a paperless firm we use the latest accounting methods such as Xero Cloud technology enabling us to view our clients cashflow and trading activities on a real time basis,” commented Tracey Jones, Director of Fergusons & Peters.

“With this unique view of our clients trading affairs we are in the best position to advise on tax planning or address potential future cash shortfalls.”

Staffing levels are presently 17, and Fergusons & Peters are planning to take on two new professional staff in the Autumn. With the upcoming introduction of ‘Making Tax Digital’ by HMRC, Fergusons & Peters aim is to have around 30 members of staff, within the next three years.

“We work with clients of all sizes, from sole traders to large multi-million pound corporates,  including sectors such as manufacturing, entertainment, and franchise retailing, ” commented Dean Beniamous, Director of Fergusons & Peters.

The firm is proud of the high level of service provided to clients, many of whom have been with them for many years.

“We are small enough to be closely involved with the clients and to understand their business and their aims,” said Tracey Jones. 

“Yet we ensure we offer the full range of services and technologies that you would expect from a larger practice. We are aiming to combine a traditional approach to service, with latest digital tools.”

The new firm is aiming to become an important force in the local business community, and to increase the client base across South Wales.

“We are very grateful to Finance Wales and UK Steel Enterprise for their support,” added Dean Beniamous.

Martin Palmer Investment Executive with Tata Steel subsidiary UK Steel Enterprise said:

“We are delighted to support this acquisition. The new practice will create additional jobs, provide a high level of expertise to clients, as well as the latest technology and this can only be a good thing for the economy of the area it serves.

“We wish them every good fortune with their immediate plans and their longer term aims.”

Dave Knight Investment Executive in Finance Wales’ micro loans team said:

“Tracey Jones and Dean Beniamous have grown their business by offering their customers the latest accounting technologies and excellent customer service.

“We are delighted to coinvest with UK Steel on this six-figure loan which will give the business the foothold it needs to achieve its future goals.”