Meet our experts: Norman Armstrong

Tuesday, July 19, 2011 | Posted by: Grant Thornton
Categories: Interviews | Tags: business, Grant Thornton, entrepreneurs, China, UK, aim, insight, interview, audit, staff, people, Meet our experts, profile, Q&A, China Britain Services Group, Norman Armstrong, assurance

A phone call from China in 2006 led Norman Armstrong to work on a six-month project to help a Chinese company list on AIM. He has been helping companies and entrepreneurs achieve their international ambitions ever since.

What is your job title?
Assurance/Audit Partner based in Southampton, on the UK’s south coast.

What does your work involve?
I try to bring elegance and simplicity to the complex world of financial reporting! Or I did. I spend less time on technical matters these days and more on helping businesses develop and succeed. I work closely with my clients and the team here to help them achieve their international aims and ambitions.

I estimate 80% of my clients have international dimensions so I’m often speaking with Grant Thornton staff in other countries, predominantly in the US, Europe, China, Hong Kong and Singapore.

Over the years I have supported clients entering new markets all over the world, including the Middle East, Australia and New Zealand, and this year have had two clients who are exploring entering the Philippines with the help of the Grant Thornton member firm in Makati City. So far I have avoided Eastern Europe and South America – though surely it’s only a matter of time!

Describe a typical working day.
I prefer to spend the early morning with my two children, who are aged five and two, so I’m rarely in the office before 9am.

I’m responsible for coordinating the business development activities in the office, so if I’m not meeting clients I’ll be doing that. Typical tasks include working with one of our sales teams on targeting or on a pitch to a prospective new client. But I’ve also found myself occasionally facilitating a debate at a business dinner we are hosting or appearing on radio to comment on some financial development.

I’m typically out two or three nights a week at networking events or other business-related activities, and even if I’m not I’m rarely home before 8pm.

Which part of business do you enjoy most?
Working with brilliant people and learning something new every day.

And which is the most challenging part?
I’ve been thrown in at the deep end on many occasions. When a client phoned me in 2006 to say he had a new client for me – in China – I was a little taken aback. But six months later, and following some excellent work by Grant Thornton in China, Hong Kong, Singapore and the UK, we introduced a new company to the AIM market. 

That was my first experience with China and since then I have immersed myself in developing my knowledge and expertise on emerging markets. I’m a member of the China Britain Services Group, the team that acts as the link between the UK and Chinese member firms and helps clients to develop their China strategies.

I’ve also worked with the CBBC (China Britain Business Council), supporting them in London and in the South. We hosted an event in April for companies looking to enter China and I now chair the Solent International Business Alliance, an organisation responsible for the promotion of international business across and with the Solent region.

All from that one phone call.

What do you bring to the role?
I think clients value perspective and vision, ie they want a view of the future and a perspective on what that means for them. We live in uncertain times and I’ve enjoyed the last few years immensely because that uncertainty has differentiated advisers who have a view and insight on opportunities – and the steps businesses and individuals need to exploit them.

What was the last thing a client asked you?
Did I know anyone who has £4 million to invest in an anaerobic digestion plant? Funnily enough, I did.

While green technology is a fast-growing sector, fundamentals such as annual salary reviews, incentivisation, retention of key staff and the 50% tax rate are all hot topics at the moment. Business leaders are interested in hearing how others are dealing with these issues.

What should companies or clients in your area be thinking about right now?
The last few years have been very challenging following the financial crisis. Although the number is reducing, too many businesses are hoping for a return to the old economy.

I see part of our role as sharing insight on what the future looks like, stimulating board-level debate and strategy reviews to encourage progressive steps and investment. This is where the knowledge of emerging markets is invaluable and I seem to be spending an increasing amount of time discussing international growth.

To find out more about Grant Thornton’s UK-China business and advisory services, or to contact someone on the team, please visit our China Britain Services Group page. If you would like to talk to Norman Armstrong, call +44 (0)2380 381114 or email Norman.Armstrong@uk.gt.com.

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