Accountants expect professional services to recover first

10 August 2009 In Accountancy

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Accountants expect professional services to recover first Accountants think the professional services sector is in the best position to emerge from the recession, according to a new study.

Asset-based lender Venture Finance asked accountants to rank their clients on a scale of one to five based on how much pressure they are facing during the downturn.

On its index, a score of one would indicate the most pressure, while five meant the least.

The professional services sector came out top with an average score of 3.11, followed by the creative industries with 3.01.

Venture Finance also found that a third of accountants think the majority of their clients could survive for two more years, even if the economy does not improve.

Peter Ewen, managing director of Venture Finance, said: "It is important to recognise that although it remains a difficult time for UK businesses, there are positive signs which should not be ignored."

Recently, BDO Stoy Hayward predicted that the recession could end within the next three months.

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