About two-thirds of business valuation firms we polled say they expect to do more business in 2016 than last year. Most of the revenue is coming from certain areas, the top area being tax, gifts, and estates, respondents say, which represents about one-third of total revenue on average. This is according to preliminary results from BVR’s Firm Economics Survey conducted during June and July of this year.
About 170 BV firms, sole practitioners, CPA firms, and other entities with business valuation practices responded to the survey. The responses reveal how firms stack up in terms of performance, compensation, billing rates, marketing and practice development, and more. Responses are being analyzed, and a full report will be available soon. More details on the preliminary results are in the October issue of Business Valuation Update.