Only one in eight firms responding to BVR’s forthcoming 2007 Business Valuation Firm Economics & Best Practices Survey has added a new principal (owner or partner) in the last 12 months, confirming the entrepreneurial nature of the field. Many in the BV profession start as sole practitioners—and intend to stay that way. To the question about making new partners, one respondent answered with a resounding “Never!!”, while another—desiring more emphasis, perhaps, replied “Never!!!”
But a hidden cost of such independence could be the current hiring shortage, as job candidates may sense that the “golden ring” of ownership remains elusive in the BV profession. Of greater concern is whether the “cobbler’s child has no shoes.” In other words, are BV firm leaders planning adequately for ownership transition?
To pre-order your copy of BVR’s full survey report, click here.
Please let us know
if you have any comments about this article or enhancements you would like to see.