What’s driving growth in accountancy firms across the UK?

Growth is once again front of mind for accountancy firms across the UK. After a period of economic uncertainty and restrained investment, many practices are stepping into 2025 with renewed confidence. But what’s really fuelling this appetite for expansion and what does it mean for companies of different sizes and regions? 

In this blog, we’ll explore the findings from Moneypenny’s Hello to Loyalty: The Accountancy Client Experience Report, uncovering the main drivers of growth and what companies are prioritising to stay competitive. 

Why is new client acquisition back on the agenda? 

Our research shows that 39% of accountancy firms list attracting new clients as their number one priority for 2025, significantly higher than any other goal. After years of treading carefully, many organisations are now ready to step back into the market with fresh ambition. 

This shift signals growing confidence that the profession can not only weather ongoing economic challenges, but also thrive in an increasingly competitive environment. For smaller practices particularly, every new client counts, making acquisition a critical factor for long-term sustainability. 

Are accountancy firms focusing on existing clients too? 

Yes, but less so than winning new business. 25% say they’re prioritising revenue growth from existing clients, reflecting a recognition that sustainable success doesn’t come from new wins alone. 

Upselling, cross-selling, and deepening existing relationships help firms unlock additional value without the high costs associated with converting fresh prospects. It’s a more considered approach, but one that can deliver consistent returns, especially when combined with excellent service delivery. 

What role does talent play in growth? 

It’s impossible to separate growth from talent. 22% are prioritising attracting and retaining staff this year, acknowledging that without the right people in place, no amount of new business will lead to sustainable success. 

Strong, well-trained teams are the foundation of consistent client experiences. And with client expectations rising – especially around speed, clarity, and joined-up service – the companies that invest in their people are those best placed to balance growth with retention. 

How do growth priorities differ by company size? 

Our data highlights striking differences depending on size: 

• Sole traders and small practices (1–9 employees): Half prioritise winning new clients above all else. With lean teams, securing each opportunity is vital for survival and growth. 

• Companies with 10–49 employees: These are at a tipping point, often split between managing rising costs and investing in talent. Growth remains a focus but so does building stronger internal foundations. 

• Mid-sized (50–99 employees): Here, the focus shifts towards maximising existing relationships, as these practices aim to improve margins and deepen engagement. 

• Large (250+ employees): Still heavily focused on bringing in new clients, but with a more balanced strategy that also includes talent retention and service quality. 

This variation shows that there’s no single blueprint for growth. Instead, companies tailor their approach depending on their size, resources, and stage of maturity. 

Do regional differences influence growth strategies? 

Absolutely. Local economic conditions and competitive landscapes play a big part in shaping growth priorities: 

• North East and Wales: Among the most growth-driven regions, with up to 50% prioritising winning new clients. 

• East of England and West Midlands: More focused on cost savings, reflecting local market pressures. 

• Greater London: A more balanced picture, with 43% targeting new prospects and 28% focused on growing revenue from existing ones. 

The message is clear: growth strategies must reflect not just company size, but also regional conditions and client demographics. 

Is chasing new business enough for long-term success? 

No. While securing new clients is essential, it comes with a risk: if client experience isn’t strong enough, companies may lose new clients just as quickly as they win them. 

Our report highlights common pain points from slow response times to inconsistent service quality that can undermine growth efforts. Those focusing on growth without improving delivery risk damaging their reputation and seeing valuable opportunities slip away. 

Sustainable success comes from balance: winning new clients while keeping existing ones happy, engaged, and loyal. 

What will define the most successful companies? 

Organisations that excel this year will be those that: 

• Win new business while nurturing long-term relationships. 

• Invest in their people, ensuring staff are skilled, motivated, and responsive. 

• Prioritise client experience, recognising that service quality drives referrals and retention. 

• Adapt to local market conditions, tailoring growth strategies by region. 

By combining ambition with consistency, these companies will be best placed to grow sustainably in a competitive environment. 

How can Moneypenny support accountancy firms in securing growth? 

At Moneypenny, we understand the pressures businesses face in balancing new client wins with long-term retention. Our Telephone Answering, Live Chat, and Outsourced Switchboard Services ensure that every enquiry is captured and handled professionally, whether it’s a brand-new prospect or a loyal client. 

By removing the risk of missed calls or delayed responses, we help firms project a reliable, responsive image from the very first interaction. That means more prospects converted, stronger client trust, and greater potential for sustainable growth. 

Call us on 0333 202 1005 to find out how we can help your firm grow sustainably.