Record numbers of technical accountants choosing to be their own boss

A quiet revolution is taking place across the accounting profession: record numbers of qualified technical accountants are rejecting traditional employment in favour of establishing their own practices. AAT's licensed accountant population – members qualified to run their own accounting businesses – has grown by 59% over the past seven years. This includes a remarkable 755% increase in licensed members under 34 years old since 2018, growing from just 119 to 1,018. Based on current growth trends, AAT projects its licensed accountant membership to exceed 8,000 by 2030.

Accounting technicians fulfil vital roles in chartered accountancy practices and as business partners in the finance departments of larger organisations, but those with licences are qualified to provide the commercial advice that smaller organisations need to manage and grow their businesses. These accounting firms play a vital role in the success of 840,000 UK SMEs, which together employ over 2.5 million people.

Women leading entrepreneurial shift

“We're seeing an increasing number of entrepreneurial individuals, particularly women, entering the profession with their sights set on the autonomy, flexibility and the career potential of running their own business,” says Isla Billett, Product Director - Membership, Commercial and Charity at AAT.

Contrary to some outdated perceptions of accountancy, the consistent representation of women among those choosing to establish their own accounting practices is a notable trend. In 2025, females represent 56% of AAT’s licensed accountant population*.

A challenging environment

The AAT figures fit a wider trend of new business launches following the pandemic. After a record year of 900,000 new companies registered in 2023, January to March

2024 saw a quarterly high of 244,717 new companies incorporated across the economy.

As these companies mark their first full year in business they face a challenging economic outlook. The number of newly incorporated businesses declined in the final quarter of 2024 for the first time in 12 years, while insolvency rates have remained consistently high since 2023.

“Accountants provide vital advice for small businesses within the backdrop of the current economic climate, supporting their strategic ambitions and navigating the complex web of tax rules and compliance” says Billett. “However new accountancy firms face many of the same challenges that their clients do.”

Support for the industry 

In response to these headwinds, AAT has today launched the accountant startup programme, developed in partnership with software company Sage, to support its growing numbers of licensed accountants through the critical first year of starting a business. Demand for the programme is already high, with more than 250 individuals on the waiting list ahead of its official launch.

“Starting your own practice is an exciting step that comes with many opportunities for growth. It’s a big transition, and navigating the wealth of available information can feel like a lot to manage,” says Chris Downing, Director for Accountants and Bookkeepers at Sage. “The early years can be challenging, but with the right support, accounting firms can thrive. It’s about laying strong foundations to ensure long-term success. The key focus is profitability, ensuring the right cash flow and the maintaining of a healthy work-life balance - investing in the right technology can help with all of these things. This AAT programme simplifies the journey by offering trusted, practical guidance in one easy-to-access place, empowering new practices to build a solid foundation with confidence.”

Jonathan Stocks, Head of Community Engagement at AAT, explains the critical need for structured support: “Looking at lapses we have on licensed members; there is a notable pinch point at the 2–3-year mark which some practices don’t get past,” says Stocks. “These figures highlight the immense difficulty of launching a business – even within the founder's area of expertise. Entrepreneurs are suddenly responsible for business planning, marketing and recruitment, all while maintaining their initial professional skillset. That’s why we’re drawing on the knowledge and expertise of our community to help them.”

The accountant startup programme aims to address these challenges by providing newly licensed AAT members with hours of relevant guidance from experienced practice owners, along with additional resources. The programme's six modules cover business identity, pricing, practice management, client acquisition and retention, systems and processes, and having the right mindset. Rich with real-world examples from practitioners who understand the specific challenges of starting an accountancy practice, the programme's co-creation distinguishes it from other offerings.

According to Stocks, the programme embodies AAT's commitment to supporting members through every career stage: “We're creating this to help our members be more successful, and to set up strong businesses that can support other SMEs to survive and thrive.” The initiative follows the launch of the bookkeeper start-up programme by AAT in 2024 in partnership with The 6 Figure Bookkeeper.