How we've helped P S May & Co
Founded in 1995 and originally operating as a sole trader, P S May and Co has gone on to become one of Cornwall’s best-known and most highly regarded accountancy firms.
Sitting down with Ian and talking about the business in great detail has made me think about how we can get people within the team to step up and take on new responsibilities. We’ve got a great team, and the business can only continue to improve through delegating roles and responsibilities a little more within the team, avoiding any bottlenecks.
How we helped
On joining the business in 2016, Peter Masters brought with him a background in teaching and mathematics. And, alongside business partner and fellow mathematician David Reid, the pair work to ensure their clients are as tax efficient as possible by providing jargon free, clear, correct, and complete advice.
With this mathematical niche, PS May and Co have created a unique selling point for the business, which sees them maintain a healthy customer base across a variety of sectors.
“The main thing that we’ve noticed is that we are very good at optimisation problems. We go through all the options at looking at the net position of the end of a project, or something like buying a car, and being able to do that has helped numerous clients who in turn have passed our name on to others,” Peter said.
This success has been a double-edged sword, of sorts, with the business now looking to take on new skills within the team and a new team member, via an apprenticeship.
Coming to the Skills Hub for an independent and impartial viewpoint of P S May and Co, Peter found the fresh set of eyes to be incredibly rewarding in terms of identifying skills gaps and ways to make their business better.
“Sitting down with Ian and talking about the business in great detail has made me think about how we can get people within the team to step up and take on new responsibilities. We’ve got a great team, and the business can only continue to improve through delegating roles and responsibilities a little more within the team, avoiding any bottlenecks,” Peter said.
Looking long term, Peter has systems management and team improvement at the forefront of his mind as the business continues to expand its client base and its range of services offered.
“COVID has seen us become a more advice-based business, and we no longer operate on the model of providing a business with their set of accounts each year, and that being pretty much it. In 10 years’ time we are hoping to grow the business and evolve our roles, with a thriving team around us to run the day-to-day operations of the business,” he said.