Accountants, Taxation & Business Advisors

Foreword

Welcome to our 2018 survey of veterinary practices. This is the second year in which we have sought your views on the state of the profession and the challenges you face in the current market.

Across Ireland, the landscape in which veterinary practices operate is changing. Ownership structures, corporate transactions, staff shortages, financial management and succession planning rank high on the list of current challenges.

Vets are working long hours, often in excess of 60 hours a week, so it comes as no surprise that better work/life balance emerged as the top aspiration for almost 70% of respondents this year.

In our last survey, we saw a lot of apprehension about international corporates entering the Irish market. This appears to have weakened and almost half of our survey respondents this year indicate that they would consider selling their practice to a corporate. Relatively few practices have obtained a practice valuation in the last two years. As well as giving you an objective view of what your business is worth, valuation highlights areas where improvement could help you maximise your practice value. 

Practice owners also need to focus more on succession planning — not just to secure their retirement income but also to protect their business from the potential impact of unforeseen events such as accident or illness. 

We are grateful to everyone who took the time to participate in this year’s survey and we hope you find the results interesting and useful. If you have questions or would like to discuss this report in more detail, please contact myself or one of our team

Work/Life balance emerged as a top aspiration for nearly 70%

Veterinary Practice Survey Report 2018

Welcome to our 2018 survey of veterinary practices. This is the second year in which we have sought your views on the state of the profession and the challenges you face in the current market.


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