ICAS’s top Scottish accountants under 35 in profile

The global body of finance professionals said the list, which includes entries spanning six continents, recognises “the best and brightest Chartered Accountants who are making a difference to the profession and to society”.

For the next 15 days Scottish Financial News will be profiling each of the Scottish representatives.

Today we profile: Joel Watt CA, 28, who is nominated in the Entrepreneurship Category.

More information on ICAS’s 35 Chartered Accountants (CAs) under 35.

Joel Watt CA, 28

Founder, Jack Taylor/VISTEM, Aberdeen

Joel has demonstrated his entrepreneurial flair using the skills he developed during his CA training and applying it to starting his own businesses. At the age of 24, Joel and his business partner set up Jack Taylor, a fish trading company that looks to introduce the UK and Europe to Scotland’s world class cuisine. Within the first three years Jack Taylor broke into new markets in England, Ireland, Wales and France and is currently trading at turnover of £5 million per annum and supports 25 staff in full time employment.

In 2014 Joel set up a second start up, VISTEM Limited (Visionary Systems).

“With a strong management team, we set about to introduce new and innovative technologies to the Oil and Gas industry. Each product that we looked to supply had only two key requirements; Improve the current health and safety condition and provide and improvement in efficiency resulting in a cost reduction.

We spent the next year and a half introducing various products to the onshore Oil and Gas industry; with mixed success. Our clients are the major operating companies, such as Shell and Total. The products were well received; however, it was felt that they could all be implemented with more success in an offshore environment. We focused resources on a new product that would result in bringing the first fully ATEX low level access lift to the Oil and Gas industry. Removing the requirement for expensive and inefficient scaffolding.

On release of the product in April 2016, we received interest from nine of the sixteen major oil and gas operators in the North Sea and subsequently completed four deployments with different companies in May. This low level access lift will place VISTEM on the forefront of access technology in the world; allowing for international sales to be developed in a further 6 months.

I have proved on several occasions that age has no impact when it comes to ability. I take risks with a view to progression and am willing to deal with the consequences. It is my ability to spot and understand opportunity that has been key to my success to date, along with a firm understanding of the supply and demand equation.

As well as having mentors to run business ideas past, I now help other start up’s in anyway I can. From having a coffee with a founder to share some of the basics, or presenting to local businesses on my experiences to date.

The CA qualification supported this first venture on many different levels. From raising debt finance on different occasions, to supporting both the set up and the growth. As the business progressed an ERP was required with an accounts team; a full system of controls were implemented”.