Does anyone at your firm want to take over from you?

It used to be that bright young things would train at a small accountancy firm, learn their trade, pass the exams and then, after a polite period of time, start knocking on the door asking about partnership. Apparently, it's no longer like that.

In its analysis of the UK's small accountancy firms in September 2015, Economia magazine found that succession planning was one of the biggest issues facing the profession, saying: "Since the economic crash, partners have become seven years older and not many new partners have been admitted. Firms are going to have to think about how they can attract younger people into partnership."

In January 2016 other research, from Blackline a software provider, suggested that finance staff are suffering from "repetitive task injury". 64% of respondents said that accountants often leave jobs because "they are not happy with the manual, repetitive workload". The same report also determined that accountants are leaving the profession "because they are not given the best tools to do their job properly".

The UK accountancy market is seeing a marked increase in merger activity between small and medium sized firms. This is being driven by the succession planning problem firms are facing. If you want to remain independent and have someone to pass on the firm to, you need to be thinking hard about making the opportunity look attractive.

It would appear that partnership opportunities don't sell themselves anymore.

Of course, if you do want to minimise the repetitive workload and give your team the best tools to do their job properly, then Checkmybooks will do that for you.