AVN’s three predictions for 2008

With India guzzling so much oil acting as a catalyst for high levels of economic growth may it be the case that Indian accountants may move their attention from the U.K to their homeland? Was the reason that India provided cheap outsourced labour because of the low standard of living and weak economy? Now that it is showing serious signs of growth will the audit, vat and tax affairs of the Indian population not become more lucrative? Just wondered what anyone thought about that? Maybe I am wrong but as India and China seem to have an unquenching thirst for oil to fuel their economic growth, I thought that perhaps those markets would become far more valuable and concentration will be directed their as opposed to here where the economy seems to be slowing down?

Pretty strong predictions from Mr Pipe!

Given the fact that he is not silly, and given the fact that he knows the market place i would urge people to take on board what is being said.

The threat from India may not happen this year as Steve predicts but rest assured it is on its way like a stealth bomber, under the radar and then bang!

I've been talking about these trends for the last year or so and have no problem identifying with Steve's predictions. I don't however believe that the Doomsday scenario Steve depicts is a done deal. There are moves afoot that could yet see the profession transformed.

More here

Don't you just love it when people look at the world through uninformed rose coloured spectacles? That's exactly what the last commenter is doing. Whimsical thoughts equivalent to 'there will always be an England' are precisely the kind of thinking that will see the small practitioner killed off.

The services offered by accountants are essential, because compliance is at the heart of the statutory returns process.

Compliance and Money Laundering

The law changed on 15th December 2007. HM Treasury have issued new
guidelines for registering bookkeepers and business administration
procedures

It is also worth remembering that smaller SMEs, Sole Traders and Start-Ups
are our bread-and-butter business.

Busy periods and work-life
balance

There are times when we are all looking over our shoulders, because of the
HMRC time-lines. And there are always a few clients who leave their work
to the last minute, or challenge and pinch our social hours..

Is this an opportunity to impress
our clients with additional services?

Nobody can predict the future! The break down of communism, 9/11 and
global warming are poignant reminders that business planning is a
constantly evolving "state-of-mind".

In my opinion, the smaller SMEs will continue to look for UK based service
providers, because a (monthly or quarterly) visit from a bookkeeper will
help to focus the entrepreneur's mind:

1) To keep the business admin and bank reconciliations neat and tidy
2) Make sure debtors and creditors are not overdue
3) Answer the vital question concerning missing receipts and other discrepancies, before memory fades

Outsoursing locally?

Eastern Europe, China and India may be a cheap option for high-volume
enterprises.

Let's keep the 80/20 rule in perspective and bear in mind the thousands of
smaller SMEs who need our help and will gladly pay, if the price is
right!

The eminence of your experience and written articles on the Internet is clear, Dennis.

As a guest in Scotland and England since 1971 and, knowing the historic relations and trade rivalry between our respective countries, maybe you will reconsider your reference to "dyed in the wool ..."

I would prefer a solid private discussion

{1} to discover synergy and
{2} how to support, not extinguish,

the efforts of the smaller accountancy practices in the UK.

Look forward to hearing from you.

london.region@bookkeeping-connections.co.uk