Fife-based, construction-focused accountancy firm Empowered By Cloud smashes £1m turnover barrier

A Fife-based construction accountancy specialist has smashed the £1 million turnover threshold – and says it has built strong foundations to grow this by 50 per cent over the next year.

Empowered By Cloud, which works solely with the construction trades and property-development sector, has revealed that in the 12 months to April 30, it enjoyed a 45 per cent year-on-year increase in income. The business, which now works with more than 100 clients, added that the “strong” performance also saw staffing levels grow by nearly 25 per cent as it serviced its growing UK-wide client base.

Laura Taylor, who founded the Glenrothes-based organisation, said of the £1m milestone: “It’s a special way to mark five years in business and a proud moment for of all of us.

“Our client retention has been good and we have hired some key individuals who have played an important part in our growth over the past 12 months. We are one of the few accountancy businesses of our size to hit the £1m mark without being backed by private equity. We have grown organically since day one, and all credit to the team for the work they have put in.

“The business will keep growing, and I believe a target of £1.5m over the coming year is well within our reach. We have a good team behind us with a really good culture, and we genuinely want to help construction businesses. It’s been a tough year for the industry, but we are well-placed to help firms navigate their way through the current economic conditions.”

Also commenting was director Graeme Morrison, whose previous roles include a decade at professional services giant EY. He said: “We have exciting plans ahead for the business which will see us continue to grow over the next year. To reach the milestone of a £1m turnover is a proud moment – and we’re all looking forward to the next phase of Empowered’s journey.”

The firm in 2020 announced that it took the decision to move to a permanent remote working operation, saying that it was one of the first businesses in Scotland to adopt such a model.