In a recent episode of the Parallels Podcast, Craig Bain, managing director of Van Bain Transfer Pricing, shared his journey and insights into the complexities of transfer pricing, the growth of his firm, and the importance of work culture. Here are the highlights from the conversation.

From Legal Practice to Transfer Pricing

Craig began his career as an attorney, where he specialized in legal practice before transitioning to transfer pricing—a field he had little knowledge of at the time. He described transfer pricing as both a complicated and straightforward topic, crucial for companies that conduct cross-border transactions. “In a nutshell, we assist companies with support for their cross-border related party transactions,” Craig explained. The aim is to ensure that these transactions are compliant with tax regulations and reflect arm’s length principles, preventing profit shifting to low-tax jurisdictions.

The Growth of Van Bain Transfer Pricing

Starting with just a small team, Van Bain has experienced impressive growth since its inception. In just three years, the firm expanded from four members to a total of 11, establishing itself as a trusted partner for both South African and international companies. Craig attributes this success to their competitive pricing and a commitment to exceptional customer service. “We started winning a lot of work away from other firms,” he said, noting the importance of building strong client relationships.

Cultivating a Positive Work Culture

One of Craig’s proudest achievements is the culture he and his team have created at Van Ban. Emphasizing flexibility, the firm operates on a deliverable-based model, eliminating traditional time sheets. Craig believes that this approach fosters trust and empowers team members to perform at their best. “If you’ve hired the right people, you shouldn’t worry about them taking time off,” he noted. The energy and fresh perspectives brought by younger team members have also been instrumental in driving innovation within the firm.

Balancing Professional and Personal Life

As a family man, Craig understands the challenges of balancing work and family commitments. He shared how he and his wife support each other in their professional and parental roles, ensuring that both of them can thrive. “We work hard but focus on giving people the flexibility to do what they want to do,” he remarked. This mindset has contributed to a more balanced and fulfilling work environment.

Future Ventures and Networking Opportunities

Beyond transfer pricing, Craig has also launched Van Bain Placements, a recruitment service that prioritizes cultural fit alongside skill matching. By understanding the needs of their clients, the firm aims to provide tailored recruitment solutions. Craig highlighted the value of networking through the Africa Scotland Business Network, which has opened up new opportunities for growth and collaboration.

Conclusion

Craig Bain’s journey with Van Bain Transfer Pricing is a testament to the potential of adaptability and a strong work culture in driving success. As the firm continues to grow, it remains focused on delivering value to clients while fostering an environment where team members can excel both professionally and personally. Through dedication, innovation, and a commitment to excellence, Van Ban is poised to make significant strides in the transfer pricing landscape in Africa and beyond.