Q&A with Jonny Hague

Jonny, congratulations on being appointed at the age of 35 the youngest director in the history of Harwood Hutton. How did it all begin for you with us?

I started at Harwood Hutton fresh out of school after completing my A Levels in August 2005. I had decided not to take up the offered spaces at University for my initially selected degree of Psychology. I spotted Harwood Hutton’s advert in the paper and thought a career in accountancy would play to my strengths. So I applied and was delighted to be taken on as a trainee. I was so keen that I started before I had received my A Level results and picked them up on my lunch break!

In the intervening 17 years I have held eight different job titles at Harwood Hutton, including Head of our Outsourced Accounting Team and Head of our Audit and Accounts Team. Most recently, I’ve been focussed on delivering high quality client care in our core services of business advice, accountancy and tax advice.

Who has been your biggest influence at HH and what key lessons did you learn from them?
I have learned a lot from many mentors at Harwood Hutton but the biggest influence has been, without question, our late Managing Director John Brace. John was sometimes a hard taskmaster as he rightly demanded only the very best out of those he worked with, but he would always take the time and care to provide his own insight and experience to anyone who needed it.

John’s unrelenting focus on achieving the highest possible standards of client service drove the firm forward for decades and left an indelible impression on me. My relationship with John was based on trust and clear communication, which I think are key to any business relationship functioning properly.

All the signs are that 2023 looks like it will be tough for many businesses. What is your overarching message to clients?
The UK economy has been hit hard by three consecutive ‘once in a lifetime’ events: Brexit, Covid and the war in Ukraine. The Furlough scheme and Self Employed Income Support Grants were particularly costly to the Exchequer, and given the upcoming Corporation and Income Tax rate increases, it is clear the Government has limited resources to assist businesses combat rising costs. We did not see many businesses fall as a result of Covid because of the various Government grants and loan schemes made available, but now there appears little more assistance to come, many businesses will be facing a critical period.

I see four key areas for businesses to focus on:

• Getting sales pricing right – ensuring the business is chasing profits, not turnover;
• Reviewing supplier agreements and contracts – ensuring these still deliver value;
• Keeping employees motivated through the cost of living crisis – considering alternative methods of staff motivation, particularly where not all talent might be afforded inflationary pay rises; and
• Reviewing credit control procedures – considering whether credit terms ought to be restricted and debt chasing be enhanced, given the increased risks to late payments and bad debts from customers.

What’s the single most important action a business leader can take to keep their business on track in 2023?
I would recommend all business owners prepare for a financially difficult period by reviewing their business model in detail to ensure they have an action plan to mitigate the pressures. Business owners should look to do this as soon as possible so they can be ahead of the curve.

Any weaknesses in the business must be identified, while any commercial opportunities must now be targeted and harnessed. Maintaining key relationships with stakeholders, such as key customers, suppliers and talented employees, might be the difference between making profits or losses, or more significantly, surviving or not.

Outside of work, what’s your main personal ambition for 2023?
Certainly to be more physically active. I gave up managing a football team in 2022 to concentrate on playing, as I feel I only have a few more years left in my legs! Inevitably, the Christmas period has not been kind to my waistline, so, like many, this is a personal priority of mine at the start of 2023.  I’m also hoping 2023 might see my team Sheffield United get promoted back to where they belong – in the Premiership!

View Jonny’s profile here.