{"id":119351,"date":"2023-11-16t12:15:27","date_gmt":"2023-11-16t17:15:27","guid":{"rendered":"\/\/www.g005e.com\/?p=119351"},"modified":"2024-08-27t17:00:37","modified_gmt":"2024-08-27t21:00:37","slug":"survey-which-niches-the-best-niche","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/11\/16\/survey-which-niches-the-best-niche\/","title":{"rendered":"survey: which niche\u2019s the best niche?"},"content":{"rendered":"
<\/strong><\/p>\n find your fit.<\/strong><\/p>\n by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n which niches offer the best opportunities for new business next year?<\/p>\n more: <\/b>women-owned businesses upbeat but need help<\/a> | survey: 42% of accountants turn away work over staff shortages<\/a> | ethics on sustainability puzzle some accountants<\/a> | accountants to the rescue as startups struggle<\/a> | talent gap widening: be very scared<\/a> | accountants hopeful, concerned and confused about ai<\/a> | looking for recent grads? good luck<\/a> | cpa biz is booming, but for how long?<\/a> according to early results from the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey, america\u2019s accountants see more business in the niches they know best \u2013 the sectors where they already have experience and proven competency. but many others are looking for easy work, or local work, or more work where the money is.<\/p>\n the survey suggested 17 common sectors where cpa firms tend to focus their services. they ranged from individuals to governments, small businesses to large, tech to construction, retail to nonprofit.<\/p>\n small business<\/strong><\/p>\n and the winner is \u2026 small business, where 73.1 percent of respondents see new opportunities in 2024.<\/p>\n an anonymous respondent in ohio attributed the opportunities to \u201cgrowth in the small business sector.\u201d<\/p>\n yes, indeed. that\u2019s where the work is. a recent intuit study reports that 77 percent of american businesses have between one and 10 employees, and a bank of america report finds that 67 percent of small businesses (those with fewer than 100 employees) expect their revenues to increase over the next year. forty-six percent of them plan to expand.<\/p>\n individuals and professional services<\/strong><\/p>\n another common niche in the outlook 2024 survey is in services for individuals, presumably a lot of it tax work, where 41.5 percent see new opportunities.<\/p>\n even more common is the 42.5 percent who are focusing on professional services \u2013 doctors, lawyers, etc. \u2013 which is really a form of small business.<\/p>\n why them? it isn\u2019t just because they\u2019ve got plenty of money, too little time and they aren\u2019t hard to find.<\/p>\n nigel briggs, chiming in from newton & henry in australia, says it\u2019s because \u201cthey are less impacted by discretionary spending by the consumer.\u201d<\/p>\n but most of those who serve that sector agree with john w. weipert, of tama budaj raab, who repeats a common thought: \u201cit\u2019s what we do best.\u201d<\/p>\n phillip brown, head of an eponymous firm in missouri, offers an even bigger and better reason: \u201csmall business professionals are looking for different strategies to minimize taxes. this provides opportunity to offer services throughout the year, rather than just the first third.\u201d<\/p>\n an anonymous respondent adds a bit more to that notion, telling us, \u201cdoctors, lawyers appreciate your work and pay for it. concierge services \u2013 people pay for your attention to detail and personal service.\u201d<\/p>\n midsized business and real estate<\/strong><\/p>\n midsized businesses are also popular, noted by 37.1 percent. lisa a. wollersheim explains why and adds a warning.<\/p>\n \u201cthey are where i am currently seeing the most activity,\u201d she says. \u201ci see nonprofits and technology struggling right now. i am starting to see a downturn in restaurants.\u201d<\/p>\n real estate is big, too, for 31 percent of respondents. peter piluk, with pathway in ontario, summarizes several respondents\u2019 reasons. he indicates real estate and manufacturing because, \u201cwe have plenty of experience with these types of clients and we are seeing plenty of these types of clients looking for help.\u201d<\/p>\n and more<\/strong><\/p>\n construction is a promising niche for only 27.2 percent of the respondents, one of whom is dallas cpa jaclyn mcguinness, who mentions construction along with small and midsized businesses because \u201cthese companies have complicated accounting needs, but no accounting staff or expertise.\u201d<\/p>\n among the niches respondents mention though the survey didn\u2019t ask about them specifically were family office services, estates and trusts, international tax compliance, high-net-worth concierge services, and agriculture.<\/p>\n in all, respondents are identifying a lot of niches in today\u2019s complex economy. and they seem to agree that the best niche of all is the niche that fits.<\/p>\n","protected":false},"excerpt":{"rendered":"
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\nmany comments reflected what one anonymous respondent says about his or her work with midsized businesses and professional services, \u201cthese are what we do at our firm best.\u201d<\/p>\n