A survey last week of 46 accounting and law firm leaders shows that 72% reported a poorer business outlook than one month ago.
However, accounting firms were more optimistic than law firms when looking ahead six months. Nearly half of all participants believe they’ve hit a bottom, with 22% expecting their business to improve a month from now, and 70% expecting to be in a better place within six months. The survey was conducted by ClearlyRated, a Portland, Ore., firm that offers client satisfaction surveys.
Among participants, 48% are focusing on retaining existing clients, 33% on expanding existing accounting and 20% on attracting new clients. Overall, 48% are looking at cutting costs and 52% on investing for growth.