The Value of Networking in Small Business Accounting
Accountants have long faced the same dilemma faced by any professional who runs his or her own practice – should one expand one’s practice to attain a higher level of service and compensation or should one focus on running a “small” practice and reaping the fruits thereof? For many accountants, it may well seem as if the choice has already been made. As larger corporations have a tendency to turn toward big name accounting firms to handle their affairs, and many small businesses are increasingly doing their own accounting on home computers, it seems as if the market for small business accounting firms is dwindling. However, there are certain organizations committed to the development of such small business accounting firms, and they accomplish their goals through the dual mechanisms of expansive networking, and an emphasis on core business skills.
The Professional Association of Small Business Accountants (PASBA) provides a unique service in the field of accounting in that it seeks to help small business accountants sustain the market for their services. To accomplish these ends, PASBA maintains a vast network of business accountants and markets their services to business clients, making efforts to match clients with accountants who seem suitable to their particular fields. The service also allows accountants to network with one another, sharing tips and strategies, contact information, and even referrals with one another. In addition to providing services as a liaison between clients and accountants, PASBA also offers an additional service wherein they host member gatherings twice a year at which accounts can brush up on their core business acumen and consequently be better equipped to meet the needs of business owners who desire their services.
The networking services offered by PASBA is valuable in most any industry, and this holds true for accounting as well. In a study conducted by Taylor and...
References: Taylor, E., & Murthy, U. (2009). Knowledge sharing amount accounting academics in an electronic network of practice. Accounting Horizons, 23(2), 151-179.
Wakefield, R. (2008). Networks of accounting research: A citation-based structural and network analysis. The British Accounting Review, 40(3), 228-244.
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