Companies Dissatisfied With CPAs' Help

Source: CPA Trendlines

The following is an excerpt from a blog posting by Rick Telberg on July 9, 2009. While it highlights an obvious problem, it also presents a huge opportunity.

A new survey of 1,000 small business owners across the United States by management consulting firm George S. May International finds that 45 percent of respondents said their businesses are not profitable.

The survey also showed that 45 percent noted their accountant as the primary professional advisor they consulted for business help, while 20 percent noted "other" without specifying, 18 percent cited their attorney and 17 percent noted a management consultant.

But it's alarming that only 60 percent said they are satisfied with their accountant's help in making their business profitable, even though a majority of them are not profitable. In fact, 65 percent said their business is worse off this year than in 2008.

Sixty percent of all respondents cited the economy as the number one reason they are not profitable or as profitable as they could be.

For the complete blog posting, click here.

From CPA Trendlines, http://cpatrendlines.com, July 9, 2009.