Bermuda based international companies – Fairway was founded on the concept of providing outsourced accounting, administration and management services to international companies based in Bermuda. This core client group consists of companies, both large and small that make Bermuda their international domicile. They may be small single purpose entities or parts of larger international corporate structures. In either case, we provide professional services without the need for the client to employ their own staff. This enhances their flexibility and is particularly useful for situations with a fluid business model.
Partnering with our facilities company FSC Management, we can provide not only the professional services our international clients require, but also the facilities from which to operate. Our serviced office facilities in the centre of Hamilton provide a complete turnkey solution for both office location and support services no matter the level of presence required. See the FSC site for more on our serviced office accommodations.
When choosing Bermuda as your domicile, a company’s shareholders and directors need to progress through a reasonable but rigorous incorporation process. Our long history and connections in Bermuda can assist you in completing this process and establishing your company home.
Local Bermuda businesses
While we provide services to international businesses in Bermuda, much of our recent years focus has been working with clients in the local Bermuda economy. Bermuda’s local businesses provide a wide diversity of products and services to the community. We have assisted many of these companies in achieving their goals and along the way have developed a broad cross section of applicable industry specific knowledge. As a result, while we do not exclude any sectors from our practice areas, we do possess specialized knowledge within our firm. Select the industry links to read more.
Over the years we have worked extensively within the hospitality and private club industry and we are members of the Restaurant Division of the Bermuda Chamber of Commerce.
Restaurants, bars & nightclubs
Doing the books for a restaurant was our firm’s first foray into local Bermuda company accounting not long after we got started as a company. It wasn’t initially our key business, but we’ve never looked back. That engagement grew into 30 years of working in hospitality accounting and management. Over that time we have internalized and developed the steps required to not only produce good reporting and assist our clients with controlling their operation. We also know the industry nuances and who are the stakeholders and players in the Bermuda market. The hospitality sector is a tough industry within which to thrive. You need your financial team to be experts. Let us help you make a success of your creativity.
One of our founding partners was a US PGA golf professional for much of his career before coming to Bermuda to work for the Castle Harbour Hotel developing golf tourism. He spent the later part of his career providing consulting services to private clubs who were redeveloping their properties both in Bermuda and around the world. Along the way, our team at Fairway provided support in the form of accounting services and financial modeling for these redeveloped properties. The club industry is a natural fit with our background in hospitality. It represents a niche within an industry where we have experience with both. If you represent a club who presently struggles with the challenges of lower F&B margins, high labour rates or many of the other issues that keep your members from fully utilizing your property, talk to us about finding your solutions.
Retail / Wholesale
We have worked for a number of clients in both retail and wholesale, for example hardware stores, furniture stores, restaurant supply companies, packaged goods stores and gasoline stations with convenience stores. We understand the unique challenges managing inventory places on your team. Let us help you put controls in place to optimize your investment in your inventory so that you spend more time selling good margin products and not storing old dead stock.
Several of our clients are in the construction industry, both specialist and general contractors. This sector has well known accounting and financial planning issues involving long term accounting for projects. With your input we can design your accounting system to support your project management process and ensure that your cash management plan fits with your payment cycles.
Not for Profit Sector
We have quite a depth of knowledge within our team working with charitable organizations. We started our first engagement working for an organization in this sector in 1990. It was a large multi-year engagement that ended with a successful transition to insource for the client when they reached the size that justified their own internal solution. In fact our outsourced engagement provided them with a model to implement throughout their organization in Canada. Since then we have always had at least a few NFP’s in our client list.
Donations are the lifeblood for the success of any NFP in delivering on its programs, and today’s sophisticated donor market justifiably demands well run charitable organizations who deliver results on their programs and don’t over spend on administration and overheads. Using Fairway as an outsourced accounting service provider typically provides much greater bang for the buck to an NFP organization than hiring internal bookkeeping staff. Additionally, the knowledge of the specific accounting rules and presentations that we possess deliver value to our NFP clients beyond simply filing required financial statements. We can help you show your donor base that your organization is effective by quantifying not only your overall financial performance, but by reporting the financial and non-financial success of your programs.
The recipients of your programs need your help. You need your donor support to deliver that help. Talk to us about helping you achieve your mission.
Employment Placement – Business Services of Bermuda
Serviced Office Facilities – FSC Management