What the 2009 PCPS Top Issues Survey Says about the Economy’s Impact on Firms

The PCPS CPA Firm Top Issues Survey is a bi-annual study that identifies the most significant challenges facing practitioners across the country.

Based on the survey results, firms appear to be weathering the storm remarkably well. When asked about the economy’s greatest effect on them, a solid proportion of firms with 20 or fewer professionals picked “no impact.” In fact, almost 25% of sole practitioners chose this answer.

The question was asked: What is your firm’s top priority for generating new business during this economic crisis? When planning ways to generate new business in a bad economy, increasing service to existing clients was the top choice of virtually every firm segment. The one exception was firms with 21 or more professionals, which set a top priority on getting more team members involved in the marketing effort. The second choice for most firms was using their relationships with spheres of influence, which was chosen by about 25% of all firms with 10 or fewer professionals and 20% of all other firms.

When projecting expected revenue in the year ending May 2010, roughly 45% to 60% of every firm segment expected some growth, a very encouraging response in the midst of a tough recession.

For more details, visit http://pcps.aicpa.org