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When Small Accounting Firms Team Up With Other Accounting Firms
The business environment for small accounting firms (five or fewer equity partners; maximum of $10 million in annual revenues) is difficult. In fact, in a survey of 301 managing partners of small accounting firms, about 70 percent of them expect 2016 to be a less profitable year than 2015. A number of issues, such as staffing and fee compression, are making it harder for small accounting firms to succeed. One of the results of these pressures is a decrease in partner compensation.
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