The recipient of the New Firm of the Year award in last year’s Australian Accounting Awards, Sovereign Private, said it has given the business further validation among its client base.
“It was really important for our team in terms of getting new staff on board as well,” said Sovereign Private partner Sheridan Green.
“When you’re a growing practice it is really hard to get people to come from the big firms to a small firm, but I guess having the award has kind of validated that we are serious about growing the business.”
From the time of winning the award last year, Ms Green says the firm has boosted staff numbers from around 14 to 20.
“When you go to market and get new clients, obviously winning an award like this gives some comfort, particularly with a small practice. [People] don’t know who you are, so having something like this is excellent in terms of having the recognition that you genuinely know what you're doing,” she said.
Ms Green said starting your own practice can be "a big leap of faith", particularly if the accountant has come from working for a large organisation.
"So to have something like this and to win it is just a real boost in confidence," she said.
Accountants from more established firms, or those simply wanting to support a new accounting business, are also being encouraged to get involved by nominating a start-up firm they believe is implementing the right strategies for success.
The winners of this year's awards will be revealed at a black-tie event on 14 October at the Four Seasons Hotel in Sydney.
Submissions will close on 19 August.
For more information about entering the awards, click here.