There’s a lot of hot air being spoken about the future of the accountancy profession.
The bits that make sense to me and look rock solid and future-proof are:
- Mobile and cloud accounting (and other new tech) will come to dominate the way the profession works, and the way clients interact with their accountant
- The Government want greater tax revenues and will find a way to make MTD generate quarterly tax payments for businesses as soon as they can
- Business owners want a better business with better results
In short accountants will use technology in faster and easier ways to help their clients grow their businesses and reduce the hassle of quarterly accounts reporting.
The obvious conclusion to reach is...
...to build and maintain a viable accountancy business you and your firm will need to:
- Embrace technology wholeheartedly (if you haven’t already)
- Help your clients to reduce the quarterly reporting hassle of MTD
- Help your clients grow their businesses (quarterly)
Some firms will obsess about using technology to deliver a quarterly tax calculation for MTD. These firms will remain compliance obsessed firms.
Some firms will obsess about using technology to help business owners grow revenues, profits, capital value and cash reserves. These firms will become business advisory obsessed firms.
What average fees can you expect...
If you are committed to a future as an advisory accountancy firm, the firms that feature in my recently published book – The Business Growth Accountant – prove you can look for fees ranging from £12,000 to £40,000 per year. Two small firms in the book had average fees of £28,000+.
Chief Executive at Lamont Pridmore - accountancy, tax and business advice
I have just read your fantastic book and have been inspired to re-write completely our internal business advisory manual.
Perhaps you already see your firm as a full-blooded advisory firm or have started doing and billing for advisory work and want to do more?
Either-way you’ll find a host of valuable ideas and practical ‘how-to’ insights to help you develop your firm as a ‘Business Growth Accountant’. Get your copy of my book here.
IMPORTANT: We’re committed to delivering real value so if the book disappoints in any way then please ask for your money back, you’ll get a refund no questions asked.
Wishing you every success