Senior Partner of accounting and business advisory firm, JS Morlu Ghana, Mr Noel Atayi has said small and medium accounting and business advisory firms to collaborate in order to break the dominance of the four major players in the country.
He said although the top four, PricewaterhouseCoopers (PwC), KPMG, Deloitte & Touch and Ernst & Young had the chunk of the market share, there still existed opportunities that the smaller firms could come together to take advantage of.
“The market is with the top four because they have the skills and manpower and the small companies are petrified so they are stuck in their own corner and saying they cannot do it. The prospects are huge and we need to build the desire to challenge the status quo and say this can be done.”
“We cannot leave it to the top four always; the smaller firms can arise and it takes a bit of courage to get that done. There are diverse opportunities,” he said in an interview after the Washington-based company officially announced its presence with the opening of a local subsidiary in Ghana.
He said the Ghana office of JS Morlu was ready for collaboration that would help position it well to get a fair share of the market and provide niche services to the public.
“We are going to collaborate so the boundaries are unlimited. Few SMEs can come together and compete with the top four easily. We are not going to restrict ourselves, we will work with other brands too,” he said.
Mr Atayi explained that although the company is a consultancy firm, it would seek to specialise and serve niche markets in Ghana and gradually rise through the ranks to be a household name in accounting and advisory services.
The global office, he said, was quite specialist offering advisory and Chief Financial Officers (CFO) services where a company decides not to hire an accountant but rather relies on the expertise of the company to prepare its books and advise them as well.
Mr Atayi said the JS Morlu model was not a duplicate, but then it aspired to be a leader in terms of reputation and quality.
JS Morlu in Ghana
The Ghana office, he said, was starting with a team of 20 professionals comprising consultants, marketers, administrators with varied expertise.
He said the global office was looking at expanding to other West African countries using Ghana as the hub.
“We are looking at other parts of West Africa but Ghana will be a hub. It starts with getting the right people and creating the right environment,” he said.
He added that “the focus is on the people and the type of environment we want to create. The building blocks will be the environment and making sure that the people are happy. It stems from a certain belief that if people are happy, they will offer their best.”