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Investing in the future

29 Apr 08

Helping small and medium-sized firms 'grow their own' CAs

Just back from a series of visits to small and medium-sized CA firms. It is always interesting to hear at first hand the issues that members face. A common theme raised was concern about succession planning – who would be developed and groomed as the future leader of the business?

It is clear to me that those I spoke to are unanimous in their belief that the future of their firms should lie in the hands of the younger generation of CAs. Here’s the rub. CAs are hugely sought after professionals. Recruitment companies fall over themselves to get CAs on their books. There is no shortage of choice for a talented CA.

Perhaps more small and medium-sized firms should “grow their own”. By training more CA students, you build loyalty and develop the future leaders of the business. Putting a student through CA training is a major outlay for smaller practices. ICAS has recognised this with the introduction of the SPICE scheme, which seeks to reduce the cost of training for smaller practices. It’s clear to me from my meetings that more important than the resource issue, is ensuring that CAs stay and grow with the business.

 

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Anton Colella | blog | SPICE
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