Where to Find Your Next Small Business Client
by Terri Eyden on
By Mary Ellen Biery, Research Specialist, Sageworks
Successful CPA firms know that while business may be great today, there's no guarantee for tomorrow. That's why it's important that you're constantly thinking ahead – constantly considering where you'll find your next clients and which industries may be the most fruitful for growing your business.
Sageworks recently provided some data to Entrepreneur on the fastest-growing industries among US businesses with revenues of $10 million or less. These industries saw sales growth between January 1, 2012, and December 31, 2012, that topped private companies as a whole. As a result, they might be good targets for prospecting, since they may be growing quickly and may need extra help managing their books and evaluating their financials.
Some of these might be industries you already serve. If so, now is a good time of the year to check in with those clients to see if they need additional advisory services.
The fastest-growth industries for small US businesses and their growth rates for 2012:
- Residential building construction – 14.8 percent growth
- Computer systems design and related services – 14.3 percent
- Machinery, equipment, and supplies merchant wholesalers – 13.8 percent
- Management, scientific, and technical consulting services – 12.3 percent
- Architectural, engineering, and related services – 11.4 percent.
- Foundation, structure, and building exterior contractors – 11.4 percent
- Building finishing contractors – 11.3 percent
- General freight trucking – 10.4 percent
- Services to buildings and dwellings – 10.1 percent
- Other specialty trade contractors – 10.0 percent
For more information on how your accounting firm can develop client relationships that maximize value for both parties, please attend the upcoming webinar, Stand above the Crowd with the ProfitCents Solution, on May 8.
About the author:
Mary Ellen Biery is a research specialist at Sageworks, a financial information company and provider of the Business Credit Report by Sageworks. She is a veteran financial reporter whose works have appeared in The Wall Street Journal and on Dow Jones Newswires, CNN.com, MarketWatch.com, CNBC.com, and other sites.
You may like these other stories...
Whenever I speak to accountants about creating a cloud practice, the most common question is, “How do I charge my clients?” Ten years ago, maybe even five years ago, if I would’ve posed this question...
Event Date: August 21, 2014, 2 pm ETMeet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring...
School tax breaks get House support as Democrats objectRichard Rubin of Bloomberg reported that the House of Representatives on Thursday voted to expand and simplify tax breaks for education as Republicans continue to pass...
Upcoming CPE Webinars
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
FRF for SMEs Series--Measurement and Disclosure Principles for various Consolidations and Business Combinations, Part 4B
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.
In this session we'll review best practices for how to generate interest in your firm’s services.
Meet budgets and client expectations using project management skills geared toward the unique challenges faced by CPAs. Kristen Rampe will share how knowing the keys to structuring and executing a successful project can make the difference between success and repeated failures.