A tendancy to view their organisation as a practice rather than a business is impinging on the growth of half of the UK's small accountancy firms, new research suggests.
A poll by software provider MYOB, in conjunction with AccountingWEB, revealed that although 80% of firms were looking to grow, 43% confessed to not having developed a business plan for the next three to five years.
The figure was even worse among small practitioners. Over half of respondents with less than ten employees admitted to lacking the existence of a formal path for future growth.
Simon Crompton, MYOB accounts division general manager, cautioned that with business plans being one of the mainstays of accountancy, the survey's results were "staggering".
"It highlight's one of the profession's biggest challenges, that man...