What are the pros and cons of owning your own firm? (Canada)
I currently work at a mid size accounting firm as a manager. Mainly working on small businesses. What are the biggest pros and cons of branching out and buying my own book? My assumption is that you have to deal with all the HR, admin etc and you won’t get the best staff accountants applying.
In recent years, many smaller accounting practices have merged with mid size firms. MNP has been one of the firms that has been buying up firms like crazy. Many people I talk to mainly say flexibility is the best part of owning your own firm. However, since so many firms have been merging with mid size firms lately, it’s making me question whether it’s worth it to go buy my own book or just stay at my current firm and eventually make partner one day. I am on partner path currently - have had discussions with leadership at my current firm about it.