The following article is a guest post.
The economic climate is providing a challenge for businesses at present, despite companies in the UK recording improved profit growth year-on-year. Much of this has to do with the looming shadow of Brexit and the uncertainty created by geopolitical issues elsewhere in the world, such as Catalonia’s drive to become an independent European state.
Some businesses are blazing a trail for others to follow, however, with WH Ireland providing a relevant case in point.
But how is this firm setting a template for growth, and what can other firms learn from this? Let’s take a look:
How are WH Ireland expanding?
Recently, the WH Ireland brand has agreed to take on 6,610 feet of new office space at its Manchester base, which takes pride of place in the city’s One New Bailey office development. The 10-year agreement will cover the first floor of the building, while it represents an exciting growth strategy that has been empowered by exceptional performance during the last year or more.
This manifested itself in the form of impressive quarter one figures for 2017. Not only did the firm report that the cumulative value of private client assets had risen by 8% to break beyond the £1 billion mark for the first time, for example, but total assets within the business also increased by 4% to more than £3 billion. Clearly, the wealth planning team performed exceptionally well during 2016, creating a foundation from which the business could grow sustainably and well into the future.
What lessons can be taken from WH Ireland’s recent success?
On a fundamental level, WH Ireland’s success proves that it’s possible for firms to grow regardless of the economic climate and underlying market conditions. Beyond this, however, there is also much to be admired by the firm’s growth strategy, which is enabling the company to remain true to its Manchester roots (where is has operated since the 19th century) and expand in an undeniably seamless manner. As a result, they can also retain a core brand identity and reinforce their commitment to the local economy, helping them to retain an edge in a competitive market.
WH Ireland have also driven organic and sustainable growth, by building on their own performance and profitability rather than relying solely on wider economic conditions. They have also looked to expand at a time when the demand for their services is peaking, creating a sustainable flow of income that minimises the need to borrow. These are all lessons that businesses in any marketplace can adhere to, particularly as they look to grow in an increasingly unpredictable climate.
The last word
Above all else, WH Ireland is a business that profits on the back of its client successes. It therefore has a vested interest in ensuring that individual and commercial investors grow with them, so the trail that they are continuing to blaze is one that entrepreneurs should be following closely at present.