When I started working in the accounting profession in 1983 - albeit on the marketing side - every small businessman dreamed he would create a successful business, let his company go public and then he'd retire with a small fortune. And to have a successful IPO you needed to persuade investors you had a good, sound business - and one way of doing that was to have a Big Four firm - or Big Eight as they then were - on board.
These days, people need to understand there is life outside of the Big Four. There is greater choice. Clients are beginning to realise they can get good quality service from mid-sized accounting firms - but on a level that is more personal and tailored to a client's specific needs. And at a lower cost too.
If the mid-sized accounting firms succeed in getting more interesting work it will help them to also attract and retain good staff, which will help them grow their client base. They can then create competition. Everybody wins. Come on business. Think outside the box. Any views? Let me know. Thanks. James Mendelssohn - jmendelssohn@msi-network.com
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