what\u2019s in the wind?<\/strong><\/p>\nresponses to the survey are still coming in \u2013 and it\u2019s not too late to toss in your two cents \u2013 but so far, practitioners are telling us that they expect a pretty good season coming up. just over 10 percent tell us say it will be much better than 2023, and another 35 percent say it will be at least somewhat better. with 45 percent figuring it will be about the same, only 8 percent think it will be worse.<\/p>\n
they\u2019re seeing a better season \u2013 better than this year\u2019s good season! \u2013 for several reasons.<\/p>\n
\n- ai may \u2013 may<\/strong>\u00a0\u2013 ease operations.<\/li>\n
- most firms are outsourcing more work.<\/li>\n
- almost half see opportunities in advisory services.<\/li>\n
- almost 70 percent are trying to work with better, higher-value clients.<\/li>\n
- more than a third expect overall fees to increase by about 10 percent.<\/li>\n
- more than a third will increase billing rates by about 10 percent.<\/li>\n
- a fifth expect a 10 percent increase in clientele.<\/li>\n
- thirty percent foresee a 10 percent increase in revenue per client.<\/li>\n<\/ul>\n
ai: the big unknown<\/strong><\/p>\nwhile 29 percent see artificial intelligence having a positive impact on their practice, 67 percent say it\u2019s too soon to tell.<\/p>\n
despite the guarded optimism on ai, comments revealed considerable concern about the impact.<\/p>\n
\u201cnot sure\u201d was the most common response.<\/p>\n
a worried canadian had a very negative opinion, predicting that ai will \u201ctake away the accounts business,\u201d and john lawson, at schechter dokken kanter in minneapolis, says \u201cai will allow others to commoditize our service.\u201d<\/p>\n
from his wisconsin firm, john howard says ai will do \u201cnothing for small firms.\u201d<\/p>\n
but darek koleda, at new jersey firm fanty, koleda & associates, says ai will \u201chelp with the grunt work so accountants can focus on advisory.\u201d<\/p>\n
<\/strong><\/p>\nwill the economy help?<\/strong><\/p>\nrespondents are rather divided about next year\u2019s business conditions and the national economy. curiously, they generally think it will get worse for everybody else but not themselves.<\/p>\n
\n- 34 say it will get worse for clients, though most say only \u201csomewhat worse.\u201d<\/li>\n
- 63 percent say it will get worse for the national economy.<\/li>\n
- 58 percent say it will get worse for small businesses in particular.<\/li>\n<\/ul>\n
and yet \u2026<\/p>\n