For many accountants who want to start their business, but don’t want to go through the hassle of finding clients, acquiring an existing practice might seem like a good option. It can also be a good option if you’ve been working for the same firm or company for a certain number of years and are looking for some independence.
However, while it does have its benefits, it has its drawbacks as well. So, it’s always better to look at it from as many angles as possible before you make your decision. Let’s take a look at some of the pros and cons of acquiring an accountancy practice.