Bravery, sense or plain madness?

April 30th, 2009

As published in the Old Mill Accountants Newsletter

In spite of the tune, “Always look on the bright side of life”, we in Britain do seem to have a wish to live in constant doom and gloom. Reading the newspapers can be a depressing experience and we are, without doubt, passing through one of the deepest recessions ever seen. I have, however, always been an optimist and, to be honest, it does not seem too much use being anything else.

It seemed natural therefore to establish my own practice of Rural Surveyors and Property Agents 12 months ago. Timing is supposed to be everything and the timing could have been better. With me having decided to go it alone, the world seemed to turn on its heals and head straight for the door marked recession. Well, you can’t change circumstances but you can learn to live with them and, like many businesses, we are learning to adjust.

At Killens, we are fortunate to have a small, friendly and determined team of staff focussed on providing a professional service and we have certainly been busy. Our property agency has grown in spite of the severe downturn in the market and throughout the year we have received instructions to sell and let farms, houses, equestrian properties and land. My wife, Sally, from a farming family, now oversees the agency side of the business in addition to being a veterinary nurse. The professional side of the business has also expanded and we provide services such as valuation and estate management to a large number of clients, including the Environment Agency.

Our roots are firmly planted in the farming community across the West Country. Our offices are at Ston Easton, between Bath and Wells alongside the A37, and were previously farm buildings where my father and grandfather once milked the cows. Indeed, I previously spent many a time calving cows in what is now my office! I remember the old Winford market opposite the Prince of Waterloo in the village and my auctioneering days started in its successor, the Avon Livestock Centre, where initially I sold the poultry, vegetables and implements. Much has changed since then.

When I started my career the profession dealt with traditional and obscure matters such as manurial values and units of measurement such as chains and roods. Now, we contend with issues such as the single payment, telecom masts and agricultural property relief.

So what for the future? The property market is showing glimmers of hope. The strong land market has been well publicised and, although values have now stabilised, it is perceived that this will remain the case. The residential sales market has been in trouble but interest is picking up and more sales are being agreed. It is possible that we are close to the bottom of the market and low interest rates coupled with greater financial liquidity should lead to improvement. On the professional side of the business, we will no doubt have to develop to cope with new challenges.

Setting up any new business is not easy, particularly when there is an ongoing recession! Handling bureaucracy, identifying the market place, recruiting the right staff, getting the message across and a little bit of luck are all key. Careful planning and taking advice is required. Going alone can deliver independence and a sense of achievement but may also lead to longer working hours, greater stress and risk. For those considering it, well, I would not discourage you. We only live once and seizing control of your own life by creating your own job can be a very positive experience.

At Killens, we have been fortunate and are grateful for the support that we have received. We have been told that we have been sensible, brave and mad. All are probably right.

An old proverb states that “A man grows most tired while standing still” and bearing this in mind we are on to the next chapter and we will shortly be opening a new office in Chew Magna not far from that old Winford market where my career partly began.