How has the recession affected BV firm recruitment and retention?

BVWireIssue #78-2
March 11, 2009

Obviously, there are many large BV firms. However, data from the 2009 Business Valuation Firm Economics & Best Practices Survey from Business Valuation Resources (BVR), show that the business valuation profession is dominated by independent practitioners, whether full-time business appraisers or CPAs who also do valuations. According to our Survey, the median size practice providing BV services employs a partner and two employees—a total staff of three. In addition, a BV practice with total staff (including partners) of nine would rank in the top 14% of the largest BV firms in North America. Yet when it comes to hiring freezes and layoffs, small and midsize BV firms are perhaps more susceptible to the current economic crisis than their larger peers. Or are they? To find out, and offer information that readers can use to assess their firm’s current condition, we have put together a survey that should offer important information to experts in organizations of all sizes. You can take the survey online and look for insights gleaned from the poll in an upcoming issue of the BVWire™. And remember, as always, all responses are strictly confidential.
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