Article“Unspoken Obstacles Prevent Many Accounting Firm Mergers and Sales” by Robert Fligel, CPA
In an editorial contribution to The CPA Journal, RF Resources Founder, Robert Fligel, CPA, unmasks the top issues preventing firms that really should be merging or selling, from doing so.
Fligel sites the following as firms that are strong candidates for merging or selling:
- Aging firms without successors;
- Small or mid-sized firms that have mergers or acquisitions as part of their growth strategy;
- Firms with strong specializations that want to provide a fuller range of services; and
- Firms with other significant challenges, such as recruiting and retention or a need to invest in technology.
Fligel also goes into great detail as to the reasons mergers and acquisitions don’t occur:
- Owners don’t want to give up control or be managed.
- Owners say they can’t find the right fit.
- Owners believe they can make more money by not selling.
- Owners say they don’t have time to deal with it.
- Owners are afraid of change.
- Owners have no other significant interests.
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