Bookkeepers named in network’s national acquisition campaign

Bookkeepers named in network’s national acquisition campaign

Launch

One national network is poised to launch an aggressive acquisition campaign across Australia, and bookkeeping firms are in its sights.

H&R Block confirmed to The Bookkeeper it has set its broad fee acquisition target at $2 million for this financial year. In the last three years, H&R Block has acquired 10 independent practices, totalling about $3 million in fees.

Firms with bookkeeping services will be of particular interest, as H&R Block looks to diversify beyond its core tax preparation services.

This follows rumblings for the last 12 months that H&R Block would be looking to grow its bookkeeping services, after a soft launch of its bookkeeping arm about 12 months ago.

“Bookkeeping was really a gap in our coverage of the market. A lot of small businesses come to us to do their taxes, but we identified a lot of those small businesses wanted bookkeeping support as well,” said H&R Block’s director of tax communications, Mark Chapman, earlier this year.

“There was a gap in the market for us. Filling it has gone well so far, and we expect that to continue,” he said.

Bookkeepers named in network’s national acquisition campaign
accountantsdaily logo
promoted stories