Download the full ICB Annual Survey 2020
The ICB Annual Survey is commissioned each year to gain insight into the bookkeeping industry and the successes and challenges that bookkeepers and the bookkeeping industry face.
In 2020 we obtained 796 responses to the survey, and unsurprisingly (98%) of respondents are ICB members.
No one saw the extent of 2020 coming. No one thought we would still be facing the same challenges over twelve (12) months later. But in 2020, professional bookkeepers have made an indelible mark on the business landscape in Australia. We have never witnessed a profession before that united and stepped up to invest in a record amount of professional learning and development, as has been confirmed by this year’s survey. Hardly surprising given the extensive raft of financial assistance offered to SMEs and the business support required.
The bookkeeping industry was not immune to the challenges faced by the pandemic this year. 53% of respondents experienced a downturn in revenue but only 26% of respondents experienced a downturn in their workload. Of the respondents that experienced a downturn in revenue, 64% experienced an increase in workload and 75% accessed JobKeeper. This indicates that bookkeepers have continued to work with and support businesses throughout the year, for reduce or perhaps no fee income. 7% of those respondents’ workload increased by more than 50%.
“The future of bookkeeping will involve change and evolute just like any other thing. The trick is to keep on changing and evolving with it.”
We also witnessed a level of community and support for each other that was nothing short of inspiring. Many members have told us that they really felt part of a community, something bigger than themselves, they are not in this alone. Sharing knowledge about technology solutions, legislation changes, government incentives, the list just goes on, and on. With the support of ICB, this year was all about Bookkeepers helping Bookkeepers get each other through.