Check out the Forbes.com listing of the 20 Most Profitable Small Businesses. Are your business borrowers on this list?
Guess what? CPA firms top the list. Does this mean I should have stayed in public accounting instead of developing a niche practice serving community banks and credit unions? Hmmmmmm….
By the way, this list was compiled by my favorite source of industry averages and financial statement analysis software provider, Sageworks. They have a division that serves CPAs which is why their information is so current. Every time a CPA inputs information for their client analysis it updates their industry information. The bank division provides a more in-depth analysis for credit decision-making.
