Pushing boundaries and never allowing complacency is the mantra of Rakesh Shaunak who is the Managing Partner and Group Chairman of MHA MacIntyre Hudson and Senior Director of Baker Tilly International, of which MHA MacIntyre Hudson is the UK member.
Rakesh, who was a partner by the time he was 30 and became Managing Partner in 2011, has been one of the key figures behind the firm’s growth and development. He was the visionary behind the creation of the national network MHA and was fundamental to the firm becoming a member of Baker Tilly International. Over the last few years, the firm has enjoyed double digit growth under his leadership.
The firm’s global reach has enabled them to offer expertise wherever clients need it, making them a national and international partner of choice for entrepreneurs and multi-national enterprises across the world and an excellent alternative to the Big 6.
Would you describe yourself as a risk taker?
You can’t avoid risk in business, particularly if it’s a business you want to grow, it’s how you manage it that’s key. Risk and reward are interrelated so I’m always on the lookout for new opportunities, of which there are more around than ever these days.
How important is company culture to you and what measures do you take to maintain your desired culture?
Culture eats strategy for breakfast! Without the right culture a business doesn’t succeed, it really is that simple. Communication across the business is key to this and I make sure that the whole firm is aware of what we are trying to achieve, are a part of that journey and they have a voice that will be listened to. After all, it’s their ideas that can help us improve client service and find more efficient ways of working. So, for us, keeping everyone informed and involved is key to our culture.
What are your values as a company leader?
Pushing boundaries is number one and never allowing complacency to set in, and with this comes setting high standards, leading from the front, and leading by example.
Having the right people in the right roles is another. If people enjoy what they do and have a say in both what they do and what their company does then the overall business benefits. I am a true advocate of employing the right person for the job no matter their background, age or education.
And lastly, an old saying, but one that remains true, treat people as you would wish to be treated!
What has most inspired you through the pandemic period regarding MHA itself?
The resilience and a true ‘all for one and one for all’ attitude from the staff. From the most junior to the most senior, they really went above and beyond, pulled together and worked for the organisation as a whole not just confining themselves to their own role. The lengths to which people went to support clients was extraordinary, with many a midnight call being answered. The productivity of the staff along with their agility regarding working from home and managing their circumstances has been more than we could ever have hoped for. We made the right decisions at the right time regarding people, company strategy and finances and we are coming out of this together stronger.
MHA’s client base includes a large number of entrepreneurs. In this extremely competitive and post-pandemic world, where technology has an even bigger dominance than ever, what one bit of advice would you give to someone wanting to grow a business?.
Not to look back but to look forward. The world is quite different from the ‘pre-pandemic normal’ and technology is now at the heart of everything we do. Make the most of the situation and leverage on the changes that have come out of the pandemic, such as flexible working and the fact that geographical barriers are less of an issue than ever due to the greater willingness to work remotely and embracement of video conferencing technology so don’t be afraid to think big.
The other realisation that has been prevalent to many businesses is the speed with which they have made changes, adapted and reinvented themselves, which perhaps previously they might have had as a three-year-or-so plan. So, with the right focus, guidance and determination, anything is achievable. However, every single business in every single sector has been impacted by technology and you will miss a trick if you don’t recognise that. Embrace technology!
What would you say to young person wanting to start a business?
Keep your feet on the ground. Be ambitious, after all the sky is the limit. Don’t be constrained by physical boundaries. Be innovative.
Have you seen a change in trends with regard to what clients are wanting from their accountant or audit firm? How should firms be futureproofing themselves to ensure clients are getting what they want?
The profession needs to remain relevant, and by that I mean remaining in tune with clients’ businesses and being part of their business journey. It’s far more than just about numbers and accounts, it’s about how businesses adapt and transform in line with the changes happening in the world and the role that we as a firm play in supporting that. Therefore, we have a fundamental responsibility to remain up to date and agile. We live in a time when digital transformation is key, as is reinventing businesses, and we have a significant part to play in that for our clients. This is an aspect of our business that we have been very successful in. All our staff take pride in understanding their clients’ businesses from all angles to be able to advise them with a commercial mindset, up to date knowledge and be able to have tomorrow’s conversations today.
What aspects in particular are causing the upper mid-tier firms such as MHA, to now be taken so seriously as an alternate option to the Big 6 by clients?
Firstly, the market and related stakeholders are recognising that the huge reach of global networks, such as BTI, are extremely beneficial to them, and with more business becoming more global we are now a serious contender on that front alone.
Secondly, the client care element is huge. Clients in our size firm mostly deal with all-round advisors who bring in specialists when needed to work alongside them. In larger firms, various specialists often work on different aspects of a client’s business in isolation, without everyone being joined up. MHA has a deep-rooted sense of care of its clients as individuals as well as their businesses and we go to great lengths to ensure they are looked after in a very personal way and we are always ‘available’ to them.
Find out more at www.mha-uk.co.uk