The 10 key challenges facing the accountancy profession

I don't think I will be making an acceptable level of profit over the next 5 years

There are not enough chargeable hours being recorded and billed by fee earners

It is becoming increasingly difficult to charge prices that reflect the value of the work we do

I do not having a clear exit strategy and so I am worried about being able to fund retirement

There is a succession crisis as younger partners are financially unable to buy into the practice

External threats from cut-throat competition for compliance work as technology and outsourcing make it cheap, fast and easy to access

There is not enough cash in the practice and so there is a constant worry about paying the bills and wages each month

Slow paying clients, high debtor days and bad debts are a continual challenge

Lack of sufficient business skills amongst partners in key areas such as leadership, people management, selling skills and marketing

There are not enough of the right sort of clients in the practice

The practice is not growing due to it being difficult to attract new clients

The practice is not growing due to it being difficult to retain existing clients

Other (please specify)