Sources for industry-specific data and risk have increased over the years as appraisers recognize how important—and conclusive—a thorough analysis can be. An exclusive BVR survey finds that, while RMA continues to be a widely used industry research source (used by 48% of respondents), IBISWorld has emerged as the most cited source in this year’s survey, used by 57% of respondents. The survey finds, however, that a good number of appraisers do not use commercially available industry research databases. Instead, they rely on materials from trade associations, their own experience, or other sources, such as 10-K filings, analysts' reports, and academic studies.
About 170 BV firms, sole practitioners, CPA firms, and other entities with business valuation practices responded to BVR’s Firm Economics Survey conducted this past summer. The survey examines BV firm performance, compensation, billing rates, marketing and practice development, and more. Responses are being analyzed, and a full report will be available soon.
More survey results will be available in the October issue of Business Valuation Update.