Big five grow smaller in small business mind share

The Wall Street Journal reports that Big Five accounting firms are losing favor with smaller businesses.


Companies with fewer than 500 employees account for roughly half of private-sector employment in the U.S. And smaller businesses, more reluctant than big, publicly traded companies to hire consultants and investment bankers, continue to rely heavily on their accountants for advice beyond tax and audit work. But the Big Five have image problems. Asked whether the accounting industry has large companies that are responsive to small business, just 11.5% of about 400 small-business owners said yes…”