eugene's blog
Why??
Now this may appear to be an obvious question but believe us, a minority of Practitioners need to ask themselves this question. To reiterate, if you want to die still going to work each and every day then don’t ask why!!
Should you just ease back and let the value in your practice dissipate? While trying to carry on and and remain abreast of all the legislative and other changes that occur?
Are you an Accountant looking at furthering your career? Are you showing or experiencing any signs below?
Exit strategies are a sensitive subject when it comes to an Accounting Practice owner looking to exit the practice.
Public Practice in New Zealand is a niche market with an extensive number of chartered firms nationwide, accompanied by Tax agents and independent Accountants; exit strategy has always been a sensitive subject and is a growing issue in NZ. Exit strategy is not one to be discussed when starting a business, however at some stage a business owner will exit.
When selling an accounting practice, one of the most important things to get right is the retention sum.
During my time with Accounting Practices, I have learned a thing or two about how the sales of accounting practices work and the types of issues that come up.
One of the curliest is recourse; particularly when, or if it is due to be paid.
When selling an accounting practice, one of the most important things to get right is the process. It is paramount that you are dealing with the experts that understand the art of the buy/sell/merge of Accounting Practices.
Since 2005, our staff at Accounting Practices have learnt a thing or two about selling an Accounting Practice.
The common questions asked are:
You may think that this is a bit of a dry subject! It is BUT it is very important! And you may think that as you are not selling your business and have no intention of doing so, it will not apply to you!
Wrong!!
I was talking to Don Wood the other day (the founder of Accounting Practices) – he is now retired and living on the Gold Coast – and the problems and opportunities that we are currently facing, are the same problems he faced when he was in practice and also found talking to practitioners when he founded Accounting Practices.