The Australian Accounting Market in terms of value and volume (>$20 Billion in annual fees) is concentrated in the major east coast capital cities of Sydney and Melbourne in the south-east of the country. The population density and high number of head offices are a disproportionately valuable market in these areas. Based on research undertaken by IBIS, NSW (Sydney) accounted for some 40% of all accounting fee revenue nationally.
Sydney is the most attractive market for accounting, taxation, audit and wealth management services:
- the limited geographical area of Sydney
- strong population growth
- strong economic growth in NSW v other Australian states and territories
- historical location of many companies head offices
- talent supply from large leading universities
- high levels of economic affluence
- domestic and international mobility
- significant ageing of the Accounting profession
- proximity to senior management team
- ability to focus marketing resources into building a strong brand in the one geography; and
- position of Sydney as Australia’s international city.
Potential For Growth
Kelly+Partners current and future focus continues to be on the private client, private business owner and family of significant wealth.
As at 31 March 201, the Group operated 13 offices in Sydney and 1 in Hong Kong.
Kelly+Partners are actively targeting opportunities in these further sites in Sydney: