Jonathon Dickens is the CEO of SMH Group, a top 100 Accountancy Firm. In 2024, Jonathon was recognised as one of Accountancy Age’s 35 under 35 in partnership with AJ Chambers. In this article, we discuss Jonathon’s career, advice and the future of the Accountancy Industry.
When did you first decide that Accountancy was for you?
To be honest I was torn between being a plumber or an accountant! One thing I knew for sure was that I wanted to get out of school as soon as my GCSE’s were done and start working. I wasn’t thinking long term, I just knew I wanted to start earning for myself and start an apprenticeship. It was my parents in the end who suggested I was better suited to accountancy and I took their advice and went for it!
You’re almost celebrating 20 years at SMH Group – that’s an incredible milestone! Why in particular have you stayed with SMH Group for all these years?
I’ve always been a very ambitious person, and it was crucial to me that I was at a firm who matched my ambitions and allowed me to thrive. It wasn’t always the case coming through the ranks, and there were a few occasions of ‘jam tomorrow’ but I trusted the process and trusted my gut instinct that I could fulfil my goals with SMH Group.
We have evolved so much as a profession, and we have grown so much as a business that even with 20 years of service, each year has been very different to the last.
You started as an apprentice back in 2005 and progressed to the CEO. What was the journey like?
Looking back now, it’s been incredible – but it’s also been very tough. I wouldn’t change the journey because it’s all helped to shape where I am today, but I know some bits would give HR managers far & wide the shudders. I remember having a knee operation in 2011 and despite a 6 week sick note, my boss at the time made me attend a 7 hour PAYE enquiry in Nottingham the next day. I had to be lifted into the back of a clients car and lay across the back seats!! The biggest change for me really was in 2017 when I took part in the Management Buy Out of the business, resulting in owning the firm alongside James Hartley. We knew we had the drive, motivation & ability to really make our mark in the region, and that’s what we set out to do.
SMH Group began their M&A journey in 2018 – and it’s still going strong. How have you seen the M&A market change over those years?
I very often reflect on that first deal we did in 2018. We were only 6 months post our MBO and looking back, if those first 6 months had have been different from a trading results point of view – who knows whether or not we would have gone for the first acquisition.
One thing I can say for sure is that we learnt from it!
It’s no secret that multiples & asking prices are creeping up, but some firms are expecting high prices just because they are in this industry. The firms who have strong leadership, organic growth, a great staff culture etc are going to attract strong prices in this market – but it’s not a given.
How do you think the Accountancy sector will change over the next few years?
I think AI will be on the tip of everyone’s tongue, but we have proven time & time again how resilient this industry is. COVID is a great example of how heavily businesses & individuals rely on the knowledge & assistance of their accountants. There is no substitute for picking up the phone and speaking to someone that wants to help, and is capable of adding value to your business. Technology can be a dangerous thing…just try asking google what’s up with you if you have a headache!
So whilst I think there will be a shift in the use of tech, we should all (accountants & clients alike) embrace that, and use it as a force for good.
Jay Baer once said that ‘we are surrounded by data, but starved for insights’. I would envisage that AI will continue to interpret data to provide great insight and help us add more value to our clients.
Photo by Austin Distel on Unsplash
What’s next for SMH Group?
We don’t want to stand still, that’s for sure. We will continue to explore opportunities to acquire good firms in the Yorkshire region. It’s our intention to remain Yorkshire centric, but we wouldn’t rule out some of the surrounding counties should the right firm appear.
Expanding into different service lines is high up on our list, along with continuing to grow organically by going above & beyond for our clients.
We want to become the employer of choice for staff, and to really become a place where we can meet your ambitions, both for clients & staff.
What is your advice to those looking to carve out a strong career in the Accountancy space?
I say this quite a lot internally, but I firmly believe there has never been a better time to excel in accountancy. In a world where people have a desire to work from home & software does a lot of heavy lifting, those who soak up information from their peers in the office, and really understand the theory behind the software will find it much easier to progress.
A vibrant office with lots going on around you is the best place to be to develop your knowledge & skills, alongside your professional qualifications.
Stay relevant with your manager, shout about the good stuff you are doing and don’t be frightened to push hard when it comes to your ambitions.
You will quickly realise if you are at a firm who can’t match your career goals, but if you are at a firm who can, push them and they will thank you for it.
Above all, put the clients first. Get to know them, care about them, have their backs, take their calls, answer their queries etc and you’ll do just fine.
The 35 under 35 in partnership with Accountancy Age is back again for 2025, celebrating the top performers in the industry.
Nominate today: https://www.accountancyage.com/accountancy-age-35-under-35-2025-entries-open/
AJ Chambers is a specialist recruitment and M&A consultancy for the Accounting and Legal Sectors. If you would like to discuss your future, our team will be happy to help.
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