THE HATCHERY was conceived of as a kind of ‘dating service’ between accounting students trying to learn their trade and the small businesses that need cost-effective tax and regulatory compliance services.
If you prefer, think “Uber” for accounting technicians.
More than half of Canada’s 16 thousand plus CPAs are sole practitioners.
They are the accounting equivalent of family doctors, serving Canada’s small business sector’s tax and regulatory compliance needs. Like our family doctors, they are being squeezed and are starting to ‘age out’.
While Canada’s tax laws are massively complex – no single person understands them all – our smallest businesses rely extensively on their ‘family doctors’ to get them through the year. They need help to compile financial statements and file their taxes.
According to Industry Canada, the most profitable of these small CPA firms have no staff, paying less than $4 thousand per year on labour. Fully 3 quarters of these paid less than $22 thousand on staff in 2019.