Driving change: Nella Pang MRICS on the role of SMEs in surveying

In this interview for RICS SME Spotlight Month, we sat down with Nella Pang MRICS, director at Omega RE to gain insights into her career and experiences as a chartered surveyor and discussed the valuable contributions of SMEs in the industry.

Can you start by sharing some key achievements or milestones in your career as a chartered surveyor, and in particular running your own business, that you are particularly proud of?

Securing Halo ARC as a client to support its UK expansion was a significant achievement. Having acted for them for over 10 years, I was pleased that they decided to follow me to Omega RE when I launched my commercial advisory firm. Over the past 15 months, we have acquired 13 units and delivered an enhanced service that I’m truly proud of.

What are some of vital contributions that SMEs and sole traders make to the surveying profession? How do they bring value to the industry?

SMEs and sole traders are known for their agility and adaptability, allowing us to innovate and respond to market changes more swiftly. This flexibility is a significant asset. Additionally, smaller surveying firms and sole traders often possess deep local knowledge and established relationships within their communities, which are invaluable for projects involving specific regional regulations. We have been able to offer our clients our corporate knowledge at a senior level, but with a more personal touch.

RICS wants to do as much as possible to support SMEs like your company. Can you please share examples if applicable of how RICS has helped you succeed in your business?

Being RICS regulated, has provided us with credibility, placing us on par with larger corporations.

What advice would you give to aspiring surveyors who are considering starting their own businesses?

Setting up a surveying practice can be overwhelming. Seek guidance from those who have done it and build a support network to ask questions.

Develop a solid business plan to analyse strengths, weaknesses, opportunities and threats. This plan will shape your marketing, website, pitch documents and unique selling proposition.  Work through your cash flow budget diligently and maintain accurate records to ensure financial stability.

How do you see SMEs and sole traders shaping the future of the surveying profession, what are the most exciting opportunities in your view?

SMEs and sole traders have the agility to adopt cutting-edge technologies swiftly, leveraging advancements in surveying equipment and data analytics for more accurate and cost-effective services. This innovation sets them apart from larger, more bureaucratic firms and makes them preferred partners for clients seeking the latest in surveying capabilities.

As environmental concerns become increasingly prominent, SMEs and sole traders can play a crucial role in shaping the surveying profession's approach to sustainability. We are in the process of becoming a B Corp and are currently going through the verification process. We have also enrolled at University of Cambridge, studying in Sustainable Real Estate. This gives us direct, ongoing access to world leading information and guidance, which we are then able to pass on to our clients through our considered, informed, pragmatic advice.

Smaller surveying businesses play a vital role in educating and mentoring the next generation of surveyors, contributing to the profession’s growth and development.