Profile: Vicky Fryer

Well, it might be wise to heed the sage words of Vicky Fryer’s 91-year-old grandmother Margaret.

Back in 1991, 16-year-old Vicky had just left school and was working as an office junior at a curtain manufacturer in Shipley, near Bradford.

Young Vicky had plenty of drive – she’d started her own dog walking business at the age of 10 – but needed a sense of purpose.

Who better to provide it than her gran? Margaret spotted an advertisement for a trainee accountant at Naylor Wintersgill, which can trace its Bradford roots back to 1917. Why didn’t Vicky apply for it?

Sure enough, Vicky got the job, and, to almost quote the late Victor Kiam, she liked the company so much that she became managing partner.

Female bosses of accountancy firms are a rare breed, to say the least. Over the past two decades, Ms Fryer, who is now 37, has campaigned hard for her home city, which has twice been the scene of riots.

While other accountancy firms have moved out, she’s been part of a management team at Naylor Wintersgill that has backed Bradford to the hilt.

“Bradford has a close knit business community and there’s a fantastic workforce of young people who are hungry for jobs,’’ said Ms Fryer. “There’s a very strong skill set within Bradford and a lot of talented young people. This could be brought to the fore with further investment in companies from outside the region. Possibly there are some tax incentives that should be made available for training young people.”

She helped to set up Bradford Young Professionals, a group that will nurture the next generation of the city’s business leaders, and she also sits on the board of Bradford Chamber of Commerce. In accountancy, it seems, all roads don’t necessarily lead to Leeds.

Naylor Wintersgill has got 2,500 clients, including a healthy portfolio of small owner-managed businesses. These are just the types of firms that David Cameron would like to see at the forefront of a private sector-led recovery. So firms like Naylor Wintersgill should play a vital supporting role as the UK takes slow, painful steps away from recession.

“We’re a sizeable practice which means we can offer corporate finance, restructuring and specialist tax advice,’’ Ms Fryer said. “Medium-sized businesses don’t have to go to Leeds for these services and pay Leeds fees. The majority of our client base is in Yorkshire, although we do act for clients worldwide.

“Most of our new business comes from client referrals and word of mouth. This has been extremely important through the last couple of difficult years. We have supported our clients through these difficult times, with few casualties.

“It’s a difficult situation for many firms. Many of them have made cuts in the last few years, but they’re still around and they have a much more stable business. There is starting to be an appetite for taking a few more risks now and to invest a little bit more, but it’s still a very slow pace of recovery.”

But what was the accountancy world like in 1991? The first Gulf War had just ended and Britain was in recession. The internet boom was still the best part of a decade away.

“In those days, the job of an accountant revolved around a pencil and calculator,’’ Ms Fryer recalled. “I left school at 16 because I didn’t have a clue what I wanted to do.

“I wanted to progress and the firm nurtured and encouraged that. The other side was the amount of client contact. The first thing people say when you tell them you’re an accountant is, ‘Oh, I was never good at maths at school.’

“It is about interpreting financial information, but it’s also spotting areas where clients can improve. You can help them grow and succeed. We’ve got one person who came through the door as a personal tax client and now they have a multi-million pound company and are trading worldwide.”

A commitment to networking has helped Ms Fryer to move steadily through the ranks. She developed strong ties in Bradford, and also nationally with the headquarters of the ICAEW (Institute of Chartered Accountants in England and Wales) in London. In 1999 she pulled off the remarkable feat of being crowned ICAEW New Accountant of the Year, and she spoke up for the interests of young chartered accountants while sitting on the ICAEW council between 2002 and 2004.

Ms Fryer became managing partner of Naylor Wintersgill on January 1 this year, the same date that Alan Wintersgill, who has been the driving force behind the firm’s development for a quarter of a century, became practice chairman.

Mr Wintersgill, a stalwart of Bradford’s corporate community, set up Wintersgill & Co in 1986. Six years later, the firm merged with Milnes Naylor to acquire Isles Verity, and Naylor Wintersgill took on its present form. During Ms Fryer’s 21-year career, staff levels at the firm have grown from 21 to 45 and turnover today is around the £3m mark.

From its base inside the former Bradford Grammar School chapel, Naylor Wintersgill remains at the heart of the city, but its sphere of influence could grow.

Said Ms Fryer: “A lot of our growth has been organic, although there have been a few acquisitions of small traders who don’t have a succession plan in place. I’d like Naylor Wintersgill to grow and succeed along with our clients, without losing the personal touch. We will always have our heart in Bradford. That’s where our base will be. Whether we branch out to other areas in Yorkshire, we’ll have to wait and see.”

She’s also participated in a Yorkshire-based business education programme sponsored by investment bank Goldman Sachs, which will help small businesses to grow during the worst financial crisis in generations. The programme, the first of its kind in the UK, is being delivered by experts from Leeds University Business School and Said Business School at Oxford University. Under the programme, entrepreneurs go on a four-month business and management course which has an emphasis on real-life practical experience. It is part of a broader programme by Goldman Sachs to provide support for 10,000 small businesses.

“I’m the teacher for the finance module,’’ Ms Fryer said. “It’s a fantastic course that encourages growth for entrepreneurs throughout the region. I’ve learned that a strong network of peers is very important to help you succeed.

“Success is also about how you communicate with people, regardless of whether you are male or female.

“I’ve never had a problem in a male dominated environment. If you know your stuff, it’s easy to shine!”

Landmarks along the way

Name: Vicky Fryer

Title: Managing Partner, Naylor Wintersgill

Date of birth: August 4 1974

Education: Rhodesway Upper School, Bradford and FTC Kaplan Business College, Leeds

Favourite song: Anything on the Amy Winehouse Back to Black album

Car driven: Porsche Boxster S

Favourite film: Shawshank Redemption or Moulin Rouge

Favourite holiday destination: Bali

Last book read: The Mayan Prophecy by Steve Alten

What I am most proud of: Achieving my goal of being appointed the youngest female managing partner of a leading accountancy practice in Yorkshire