It’s not a surprise that the BV profession is suffering from staff shortages, but now we can quantify this phenomenon to some degree. Just a little over half (52%) of BV firms say they are experiencing staff shortages, according to preliminary results of BVR’s Benchmarking Survey. Over a third (38%) of respondents say they are short senior-level appraiser staff, and 20% are short junior-level staff. Very few say they are short administrative and clerical staff.

The survey is collecting much more information on staffing as well as data on operations, financial metrics, compensation, billing practices, marketing, tools and resources used, and more.

Deadline extended: Over 160 business valuation firms and practices have responded to the BVR Benchmarking Survey so far—but, of course, more is better. So BVR has extended the deadline to participate in the survey until July 31. The direct link to it is bvresources.com/2023bvsurvey. All responses will be confidential, but we will give survey respondents the opportunity to participate in rankings that identify top-performing practices. Participants will get a free executive summary, a discount on the full study, and some other perks.

Our thanks to those who have already participated—and to those who will take advantage of the extended deadline.