Over 450 BV firms have submitted financial and operation data for the 2008-2009 edition of the Business Valuation Firm Economics & Best Practices Survey (due out in early September). Of these, an amazing 12% performed their first appraisal in the last twelve months. (This is an even a higher growth rate than in the last survey 18 months ago, in which 9.4% of respondents had opened their doors in the preceding year). Many reactions to this growth are possible. For certain, one response is pride since business valuation is growing at a faster rate than any other major profession, including legal, medical and accounting. From a business point of view, however, practioners need to manage this influx of new “competitors.” A more crowded space means that issues like “brand” and “niche specialization” will be ever more important going forward.
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