Are Service Industries at Breaking Point?
Has anyone else noticed what its like to work in an industry that is service based at present? If only everyone could make widgets. I have been observing service based industries over the past couple of years as we have moved through, and out the other side, of the pandemic, and to be frank, I’m…
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Highlights from our Latest Charge Rates & Salaries Survey
Earlier this month we released our June 2023 Charge Rates & Salaries Survey following a pleasing rate of registration over the preceding couple of months. We had firms of all sizes participate, ranging from a couple of hundred thousand in turnover to the Second Tier firms, with data received across the five major States. There…
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To Outsource / Offshore or Not, that is the Question?
Outsourcing or offshoring can tend to be one of the most contentious within the profession. There seems to be three schools of thought in respect of this method of work completion. Firstly, there are the firms who have tried it and love it, many originally getting into it due to its cost benefits. These firms…
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Achieving a Fair Value for Your Equity
As we approach the last quarter of the financial year, those parties looking to retire, sell down equity, or depart a firm, will often start considering the potential value of their equity. All too often we hear a comment along the lines of ‘I just want to do what is fair for all parties’ or…
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Highlights from our Typical Fees Report
Our 2023 Typical Fees For Common Services Report was released yesterday to a strong participant and non-participant group. We had expected to find some fairly healthy increases in these fees for the period given the static or conservative nature of fee reviews during the pandemic by many firms as well as the underlying inflationary pressures…
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Practice Assets that are Typically Transferred upon Sale
A couple of recent practice sales reminded me that not everyone is necessarily aware of all the assets or items that are typically incorporated within, and transferred as part of, a practice sale. Hence, I thought it may be helpful to outline some of the common inclusions and the prep work that is required in…
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The Current Transactional Market for Practices – What We Know Today!
For around twenty years now the professions have been preparing for the increased departure of practitioners as the Baby Boomers hit retirement age and during this time there have been a couple of factors that have been influential upon this expected trend. One was frenetic activity of the consolidators and aggregators amongst the accounting profession…
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Why Some Firms are Not Experiencing Recruitment & Retention Difficulties
I recently met with a practitioner who was probably one of the most fortunate within the profession at present. Unlike every other firm I have spoken to in the past year, two years, etc, they were experiencing absolutely no difficulties in recruiting or retaining their personnel. This was put down to firm culture. They took…
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Partner Selection – Ensuring Long Term Harmony
Being in partnership with others can represent a real challenge for some, hence the number of sole practitioners around the country, whilst for others there is nothing better than teaming up with colleagues or friends to build an empire; for some, the bigger the better. Which is why I find it intriguing as to how…
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