If you take a look under the hood of the accounting industry in the United States, certain truths are clear.
- The market for accounting services is a red ocean, with dozens of firms competing to attract and retain clients.
- A large majority of these firms (between 50% and 75%) have owners nearing retirement age.
- Without proper succession planning, there is a great likelihood that half of all local firms will close or be sold in the next 5 years.
While many small business owners might find security in the experience and expertise of seasoned accountants, they may also face the risk of disruptions if their CPA retires without a solid succession plan in place.
“Do any of you have a recommendation for a CPA Tax Prep person in the Katy/Houston area? Mine suddenly retired.”
— Source: Facebook, 2025
“Our CPA retired this year. Do y’all have any recommendations for a new one? My husband owns a small business, so someone well versed in that would be great. (If that’s even a thing. I don’t know much about CPA’s.)”
— Source: Facebook, 2025
“Does anyone have any recommendations for a good CPA in the area? My current one that I have been using for the last 20 years here is retiring so I’m in need of a recommendation for someone for the next 20+ years! Thank you!”
— Source: Facebook, 2025
Finding the balance between experience and expected lifetime
To ensure that you find an accountant who will provide a reliable financial partnership for years to come, look for these key characteristics:
- A firm led by a professional with a substantial career ahead, ready to provide long-term advisory support amid the ongoing generational shift in the industry.
- A firm that embraces modern technology and financial tools to adapt to evolving business landscapes efficiently.
- An owner who understands the challenges of running a small business, because they’ve lived it themselves.
These qualities give small business owners access to both deep industry expertise and long-term stability with fresh, forward-thinking perspectives.
Longevity with Ledgerment
Founded by Paul Raath, CPA, MBA, and his wife Kim Raath, PhD, Ledgerment is built on over 25 years of combined experience to simplify financial management for small business owners.
As business owners ourselves, we understand firsthand the complexities of managing finances while running a company. That’s why we provide tailored financial strategies designed to help businesses grow, thrive, and remain financially secure for decades—not just a few years.
At Ledgerment, we leverage cutting-edge technology and modern financial tools to offer seamless, efficient, and forward-thinking accounting solutions that evolve with your business.
