Start-up accounting firms bounce back
2011 saw more accountancy firms open than close for the first time since the 2008 crisis, signalling the start of a sector bounce-back, according to Bloomsbury Professional.
Bloomsbury has analysed the most recent figures from the Office for National Statistics (ONS) and found there were 4,210 accountancy start-ups in 2011 – 14% up from 2009, with closures down 16% over the same period (from 3,985 to 3,360).
The ONS ‘Business Demography, 2011’ report reveals a net gain of 850 accountancy firms last year, following a net loss of 360 firms in the preceding two years.
Bloomsbury said the market was stabilising and that the growth in new firms was the result of out of work number crunchers from larger firms and “laid off bookkeepers” rushing to set up on their own.
Martin Casimir, managing director at Bloomsbury Professional said...