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register in each
state and what’s the
Federal perspective?”
Barinder points out.
Foundation for
global expansion
An introduction to
local accountancy
firms with real ‘on
the ground’ expertise
was invaluable, she
says. “And being able
to source partners who have already
been vetted through the GGI Network, of
which Haines Watts is a member, meant
we didn’t feel as blind, whether we were
trying to answer customer or supplier
questions or prove our certification.”
Reporting requirements for financial
results vary greatly from country to
country – even where there may seem
to be similar cultures, such as Australia
and the US. “Establishing a business in
India is very different to what you’d do
in the UAE. It is not just about creating
a legal entity, but making sure all the
components you need are in place before
you start to trade, from the mechanics
of currency – where we were referred
to currency experts at HiFX – to a bank
account, and tax. Haines Watts has
supported us in all these areas.
“This has been important because if
you get it wrong the repercussions are
immense for a private business owner;
it could potentially lead to a custodial
sentence,” Barinder warns.
Technology-led future
Knowledge Academy continues to invest
in the future, which includes spending
more than £2 million in developing
technology that will allow it to work with
large corporations to collect data, identify
training requirements and create bespoke
programmes to meet their needs.
“This ‘training needs analysis’ looks at
the skills present in an organisation today
and what is needed tomorrow to best
serve that business in the future,”
says Barinder. “This technology will
also allow them to benchmark spend
compared to the competition.”
And, she adds, with a lack of workers in
the UK with skills in software development,
building capability in this area offers
exciting potential for further growth.
Award-winning business strategies
Dilshad and Barinder Hothi have been
recognised for their entrepreneurial
successes with a raft of awards, from
RBS Management Team of the Year
2014 and ‘One to watch’ in the Sunday
Times Fast Track 100 2015 to entering
the 2016 Sunday Times Fast Track – SME
Export Track 100 at number 29 and,
finally, Barinder winning Woman Business
Owner of the Year 2016.
“I believe we have stood out
because we have founded a business
in a challenging environment which has
since seen exponential growth – and
we are completely self-funded. We’ve
always had a ‘if you can’t afford it, don’t
buy it’ philosophy.”
“As we have grown
and moved into
overseas markets,
Haines Watts has been
there to make sure we
remain compliant.”
Barinder Hothi,
Knowledge Academy
expert
MICHAEL DAVIDSON,
Haines Watts
“Barinder and Dilshad are great
to work with. Barinder’s business
savvy is balanced by her husband’s
entrepreneurial streak – it’s the
perfect mix that has led to their
business expanding rapidly.
But they are very focused on
growth, and where Haines Watts has
been able to offer value is in making
sure the accounting systems and
processes are in place and that the
company has the right people with
the skills and experience to take it to
the next phase.
We highlighted that their financial
team was under-resourced, for
instance, and within two years they
had expanded this from two to over
ten people, including a Head of Group
Services and financial controller.
It means they now have access
to timely management information
which allows them to make
responsive, well-informed decisions
about any business challenges.
As they have expanded rapidly to
other markets, the GGI Network has
also been of particular importance.
Thanks to clients like the Knowledge
Academy, Haines Watts is now one
of the global professional alliance’s
top firms for referring work to other
partners around the world.”
8 magazine | Issue 47 | hwca.com