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Bookkeeping in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Bookkeeping Market Research Report | SIC M69.202 | Mar 2017

Off balance: Revenue is expected to fall in 2016-17, but strong earlier expansion has supported overall growth

The Bookkeeping market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
£3bn
Annual Growth 12-17
8.1%
Annual Growth 17-22
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Profit
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Employment
30,481
Businesses
3,719
Industry Threats & Opportunities
  • Strong expansion early in the period has supported growth over the past five years
  • Overseas competitors have benefited from the improved speed and security of cloud software
  • Online bookkeeping services are expected to account for a rising shareof industry revenue
  • ... purchase to read more

Industry Analysis & Industry Trends

Firms in the Bookkeeping industry record commercial transactions on behalf of companies and other organisations. Small and medium-size firms are the most important market for the industry, accounting for over 50% of revenue. Over the five years through 2016-17, generally improving economic conditions following the downturn of the previous period led to an increasing number of firms operating in the United Kingdom. This led to an expanding potential client base for industry operators. Additionally, average levels of business profit in the United Kingdom have also been on the rise, encouraging more firms to outsource back-office activities... purchase to read more

Industry Report - Industry Locations Chapter

The geographic distribution of the industry’s establishments tends to correlate with the spread of economic activity across the United Kingdom. This is due to the industry’s wide range of customers across all sectors of the economy and stresses the importance of small and medium-size companies located throughout Britain as clients for the industry. Revenue distribution also tends to follow the general trend of each region’s share of contribution to economic activity.

London

London accounts for a disproportionately large share of establishments due to its position as a major corporate and financial centre. It .. purchase to read more

Additional Insights for the Bookkeeping Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Bookkeeping Industry are

  • Receiving the benefit of word of mouth recommendations
  • Qualified work force
  • Company's product is user/consumer friendly
  • IBISWorld analysts also discuss how external factors such as Business profit and Number of businesses in the Bookkeeping industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Bookkeeping Industry?

    Firms in the Bookkeeping industry record commercial transactions for businesses and other organisations for the purpose of record keeping and accounting. The industry does not include the provision of management consultancy or accounting services.

    Industry Products
    Maintaining transaction recordsProducing financial reportsPerforming reconciliationsOnline bookkeeping and cloud accounting
     
    Industry Activities
    Maintaining daybooksMaintaining petty cash booksKeeping journalsMaintaining ledgersChasing debt and credit controlCalculating quarterly VAT returns


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Business profit
  • Number of businesses
  • Business confidence index
  • IT and telecommunications adoption
  • Real effective exchange rate
  • Current Performance
  • A new page
  • Overseas competition
  • Regulatory change
  • Thicker margin
  • Chart: Revenue Growth
  • Industry Outlook
  • Rising demand
  • Overseas competition
  • Ongoing online growth
  • Profit margins
  • Table: Bookkeeping Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Bookkeeping Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Software Development
  • Legal Activities
  • Accounting & Auditing
  • Financial Management
  • Key Selling Industries
  • Data Processing & Hosting Services
  • Renting and Operating of Own or Leased Real Estate
  • Software Development
  • Universities
  • Products & Services
  • Maintaining transaction records
  • Online bookkeeping and cloud accounting
  • Producing financial reports
  • Performing reconciliations
  • Chart: Bookkeeping Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Small and medium-size businesses
  • Accounting firms
  • Large businesses
  • Public sector organisations
  • Chart: Major Market Segmentation for the Bookkeeping Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Bookkeeping
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Bookkeeping Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Bookkeeping Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Bookkeeping Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Cloud Computing
  • Online virtual storage space where remote users can access and process data.
  • Offshoring
  • Outsourcing non-core business activities to a location outside the home country. This practice is typically pursued to take advantage of low production or labour costs.
  • Outsourcing
  • Using external service providers to perform non-core business functions.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Bookkeeping:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Bookkeeping market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Bookkeeping, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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