Accounting's aging industry: Merge or disappear
Plus: Accountants are among happiest people | U.S. gov's big accounting blunder
The accounting industry's workforce is aging, leaving few options for firms: sell, merge or disappear. What's the future of your business? Today's talker: An Australian accountant his gambling addiction. Talk about betting on the wrong horse. -Bianca Prieto, Editor
In this issue:
⚫ Tips to growing a stronger firm, faster.
⚫ Focus on people when acquired a CPA firm.
⚫ Recruiting top talent is going to cost you.
⚫ The mistake that cost the U.S. $2B
- written by Paul McCormack
Firms merge or disappear as aging partners retire
Thinking about retirement? The trend of accounting firm mergers is on the rise, offering a smart move for those looking to ensure their firm’s future. With fewer young accountants coming into the field and technology changing rapidly, joining forces with a larger firm can be a game-changer. A recent survey by consulting firm Rosenberg Associates found 25% of all partners are over the age of 60, and 60% are over the age of 50. Find out how these changes could impact your next steps and keep your firm thriving. (Hartford Business)
🎙 The Art of Buying Accounting Firms
"It's not for everyone. A lot of firms that acquire make the mistake of thinking we'll make it work later. That's a really bad idea." - Matt Tait, CEO
Have you ever considered buying another CPA firm? Join Jody Padar, Radical CPA, and Matt Tait, CEO of Decimal, one of the fastest-growing accounting firms in the U.S., to learn why acquisitions can be a strategic choice over organic growth. (Accounting for Innovation Podcast)
$731.4 Billion |
Estimate of the global bleisure market (the combination of business and leisure travel) by 2032. (Navan)
- Surprise! Accountants among the happiest in the U.S.
- Pentagon's $2B oops: Accounting blunders in Ukraine aid
- Want to solve the accounting talent shortage? Get ready to pay up
- Cracking the code: Forensic accounting challenges in the digital age
- Trouble down under: Sophisticated investor rules under scrutiny
Why some firms grow faster, bigger, stronger
Wondering why some accounting firms thrive? High-growth firms invest more in marketing, create a unique identity, and keep their websites optimized. They also rely on skilled experts to share their knowledge and produce valuable content like webinars and blogs. These strategies could help your firm to grow faster, stand out and build loyal client bases. (Bill.com)
The Net Gains is your one-stop shop for fresh, FREE accounting insights. I'm Bianca Prieto, your editor, and I'm excited to build this community with you.
We'll be diving deep into industry updates, from tax strategies to the power of technology. What are your thoughts on today's newsletter? Am I missing something? Did you learn something valuable? Let's shape this newsletter together — email me and let me know!
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