UHY Advisors CEO Tony Frabotta Receives Distinguished Service Award from MICPA

National Chairman and CEO of UHY Advisors, one of the country’s largest professional service firms, Anthony P. Frabotta was recognized with The Distinguished Service Award from the Michigan Association of Certified Public Accountants during their annual awards gala at Suburban Collection Showplace.

The Distinguished Service Award is presented to those who have made significant contributions to the accounting profession. Honorees have shown exceptional leadership and service, making a lasting impact in their industry and their communities.

“As a true advocate for the profession, Tony has mentored hundreds of young CPAs, both at the firm and on the campus of Wayne State”, said Guy Gordon, WJR radio host and the emcee for the night. “Beyond the profession, Tony is a strong supporter of Detroit and its surrounding communities through involvement in several area charities”

Frabotta began his career with the firm in 1974 and has held many leadership roles during his tenure. Even as he advanced through the ranks, he has never wavered in his belief of giving back to your community. To instill these same beliefs in his team, he helped establish UHY Cares, a nonprofit organization run exclusively by employees. Over the entirety of his 44 year career, Tony has been an inspiration to all those he encounters and an outstanding leader in the MICPA family.

Among other honorees receiving awards last night were Governor Rick Snyder who received the Distinguished Achievement Award and UHY Advisors Chris Peterson, who was recognized as the Outgoing Fraud Task Force Chair.

About UHY LLP
UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market.

UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit www.uhy-us.com.

All of the above entities are members of UHY International (“UHYI”), a worldwide network of independent professional services firms that provide audit, tax and advisory services around the globe. UHYI is ranked among the top international accountancy networks and a proud member in good standing of the Forum of Firms. Collectively, our US operating entities (UHY LLP and UHY Advisors) are the largest independent members of UHYI with significant participation, bringing the power of our international network to serve the individualized needs of our clients.

About MICPA
The Michigan Association of Certified Public Accountants is the leading statewide professional organization dedicated to promoting and enhancing the value of the CPA profession. Our more than 18,000 members work in business, education, government and public accounting. Established in 1901, MICPA members serve as trusted advisors for businesses and individuals while embracing the highest standards of professional and ethical performance. For more information, visit www.micpa.org.

MICPA Honors Walsh Leadership, Alumni and Students

The Michigan Association of Certified Public Accountants (MICPA) has announced the 2018 MICPA Award Winners, and many have a Walsh connection. Honorees are recognized for outstanding commitment and leadership, both to the CPA profession and their communities, and will be celebrated at the MICPA Awards Dinner on October 3.

Robert M. Johnson, BAC ’85 and MSF ’92 is the newly elected Chair of the Board. Former Walsh Finance Department Chair Leon C. LaBrecque will receive the Chair’s Service Award. Alan C. Young, MST ’85, will be recognized as the outgoing Chair of the Board and Walsh President Emerita Stephanie Bergeron will be recognized as an outgoing Board Officer. Young’s firm, Alan C. Young & Associates, P.C. will receive the Firm Appreciation Award.

Several additional Walsh alumni will also be recognized:

Bailey Altman, BAC ’11 – Outstanding Task Force, Emerging Leaders
Tony Burdick, MSA ’94 – Outgoing Task Force Chair, Educators
Joanne M. Candela, MSF ’92 – Outstanding High School Teacher
Alex J. Drost, MSF ’16 – Emerging Leader Award; Outstanding Task Force, Emerging Leaders
Paul L. Gimbutis, MAC ’08 – Outstanding Task Force – Emerging Leaders
Victoria A. Mundinger, BAC ’11 – Outstanding Task Force – Emerging Leaders
Bradley P. Perry, MAC ’14 – Outstanding Task Force – Emerging Leaders
Earl J. Poleski, MST ’86 – Outstanding CPA in Government Impact
Jonathan Satterfield, BAC ’16 – Outstanding Task Force – Emerging Leaders
Audrey M. Victor, BAC ’91 – Outgoing Task Force Chair, Federal Tax
Andrew F. Zaleski, MST ’99 – Outgoing Task Force Chair, Mergers & Acquisitions

Current Walsh BAC student Joslyn Le will also be honored as part of the Outstanding Task Force as an Emerging Leader.

“We are so proud of the accomplishments of our alumni in the field of accountancy,” said Walsh President and CEO Marsha Kelliher. “Walsh was founded on our Accountancy program and these individuals are a strong reflection of our values of excellence, integrity and collaboration. We join the MICPA in honoring all of the 2018 award winners.”

For more information about Walsh Accountancy programs, visit https://www.walshcollege.edu/bachelors-ba-degree-accountancy.

UHY International Meeting Heads to Detroit – Largest Gathering of Leadership in Firm’s History

UHY Advisors and UHY LLP are proud to welcome members from UHY International, one of the largest global accounting and consultancy networks in the world, to the Motor City for the 2018 International Members Meeting at the Westin Book Cadillac Hotel in downtown Detroit. The meeting will be the largest gathering of UHY International partners in history with representatives from over 95 countries coming together to conduct business, gain education and experience the great comeback in Detroit.

“Antoine de la Mothe Cadillac discovered Detroit in 1701”, said Rick David, treasurer of UHY International and COO of the host firm, UHY Advisors at the most recent members meeting in Paris, France. “Now we invite our UHY International members to discover Detroit for themselves as the meeting moves from Paris to Detroit in 2018.”

Previous International Meetings have been held in: Brussels, London, Munich, Paris, and Singapore to name a few. Additionally, UHY Advisors will be concurrently hosting their National Leadership Conference.

“Combining our National Leadership Conference with the UHY International meeting in Detroit is a great opportunity for both our national and international partners” said Tony Frabotta, CEO of UHY Advisors. “Hosting these meetings together will allow everyone to experience the comeback of the Motor City first hand and build collaboration among our international colleagues”.

“We were very interested in coming to Detroit to experience their well-known renaissance first hand. Our members from around the world asked that we consider Detroit as the site of our annual meeting and we are grateful that our member firm in the US, UHY Advisors, accepted the role as host for our upcoming event” said Bernard Fay, chairman of UHY International. “With all of the buzz surrounding Detroit, this is the perfect time”.

Outside of business meetings, both domestic and international guests will get to experience Detroit staples like dinner at American Coney Island, and visits to Belle Isle, Detroit Institute of Arts, Henry Ford Museum and much more.

UHY International is the 16th largest international audit, accounting, tax and consultancy networks by fee income with offices in over 325 business centers across the world.

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About UHY LLP
UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market.

UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit www.uhy-us.com.

All of the above entities are members of UHY International (“UHYI”), a worldwide network of independent professional services firms that provide audit, tax and advisory services around the globe. UHYI is ranked among the top international accountancy networks and a proud member in good standing of the Forum of Firms. Collectively, our US operating entities (UHY LLP and UHY Advisors) are the largest independent members of UHYI with significant participation, bringing the power of our international network to serve the individualized needs of our clients.

Michigan Association of CPAs elects new board officers and directors

The Michigan Association of Certified Public Accountants (MICPA) has elected Robert M. Johnson, chief financial officer at Shift Digital in Birmingham, chair of its 2018-2019 board of directors. The association of more than 18,000 members, also appointed officers and two new directors to its board.

Johnson, of Clinton Township, having spent his entire professional career in metro Detroit, is familiar with the landscape and will expertly guide the board as its new chair. Prior to Shift Digital, he held financial positions at Dynatrace, CareTech Solutions, Palace Sports & Entertainment and the Detroit Pistons Basketball Company. Johnson serves on a committee at Walsh College, his alma mater, to raise funds for student scholarships.

“We are very fortunate to have such extensive experience and vision in our leadership team,” said Peggy Dzierzawski, president and CEO of the MICPA. “Our board is always focused on strategically paving the way for a strong future for the accounting profession in Michigan.”

Additional officers elected for this year include:

David G. Echelbarger, chair-elect: Echelbarger, of Allegan, is president of Echelbarger Himebaugh Tamm & Co. PC, Grand Rapids.
Frank V. Maselli, treasurer: Maselli, of Rochester, is an assurance partner at Ernst & Young, Detroit.
Michelle F. Randall, secretary: Randall, of Northville, is a professor of accounting at Schoolcraft College, Livonia.
The board’s executive committee also includes immediate past chair, Alan C. Young, and past chair, Betsy W. Meter. Young, of West Bloomfield, is the founder and CEO of Alan C. Young & Associates PC in Detroit. Meter, of Beverly Hills, is managing partner and U.S. accounting change leader at KPMG LLP in Detroit.

New directors include:

Mia S. Bennett: Bennett, of Coloma, currently serving as manager of North America Consolidations for Whirlpool Corporation, has previously held accounting roles at General Motors, Kmart Corporation, Henry Ford Health System and Ameritech.
Lisa A. Fisher: Fisher, of Dearborn, in addition to her current role as manager at Daimler North America Corporation, is a member of the American Institute of Certified Public Accountants, Tax Executive Institute and is actively involved in the National Association of Black Accountants.
Directors re-elected to three-year terms include: Ronald C. Edmonds (Midland), controller and VP of controllers and tax at The Dow Chemical Company in Midland; Lisa L. Howze (Detroit), vice president for Detroit campuses and strategic partnerships at Davenport University; Stacie M. Kwaiser (Bay City), chief operating officer at Rehmann in Saginaw; Marc J. Lichtman (Canton), partner at UHY LLP in Farmington Hills; and James N. Lopiccolo (Oxford), founder and member at Capocore Professional Advisors in Lake Orion.

Elected officers will serve one-year terms and directors will serve three-year terms, both effective Sept. 1, 2018. Bennett is serving the remainder of Michelle F. Randall’s term, and will subsequently serve a two-year term instead of three.


About MICPA
The Michigan Association of Certified Public Accountants is the leading statewide professional organization dedicated to promoting and enhancing the value of the CPA profession. Our more than 18,000 members work in business, education, government and public accounting. Established in 1901, MICPA members serve as trusted advisors for businesses and individuals while embracing the highest standards of professional and ethical performance. For more information, visit www.micpa.org.

Jeremy Falendysz Joins UHY Advisors as Director of Corporate Finance

UHY Advisors Corporate Finance, LLC welcomes its newest director Jeremy Falendysz who will join the team in Detroit. Falendysz is an experienced investment banker with over 15 years in the industry representing a total deal value of over $60 billion. He worked on Wall Street for 10 years, including as vice president in Morgan Stanley’s investment banking division, in addition to positions with UBS and Deutsche Bank. Prior to joining UHY, he spent five years with a Birmingham-based boutique investment banking firm serving middle-market clients.

“Adding Jeremy is a critical resource for our practice on a national level,” said Steve McCarty, managing director at UHY Advisors. “His years of experience in investment banking, particularly in the energy space will allow us to expand our portfolio and will present new opportunities for our team.”

Falendysz has advised middle-market and large cap private and public clients on sell-side and buy-side M&A transactions, as well as corporate separations, equity/equity related capital raises and debt capital raises. Falendysz has completed transactions in multiple industries, including automotive/transportation, consumer products, distribution, energy, healthcare and industrial products. While working across various industries, he developed a particular expertise within the energy sector, including assignments in sub-sectors spanning pipelines and terminals, exploration and production, refining, renewables and oilfield services.

He will sit in the firm’s Detroit office, the headquarters of the UHY Advisors Corporate Finance practice, but will work with all 17 offices across the country on various engagements. Falendysz is a FINRA licensed representative, having earned his Series 7 and Series 63 licenses, and has B.B.A. and B.A. degrees in finance and economics, respectively, from the University of Michigan (Ross School of Business) and an M.B.A. from the University of Chicago (Booth School of Business).


About UHY Advisors
UHY Advisors, Inc. (“UHY Advisors”) operates in an alternative practice structure with UHY LLP, a licensed CPA firm, collectively forming one of the top professional services firms in the country, providing comprehensive audit, attest, tax and business advisory services to a wide range of clients principally in the dynamic middle market. To learn more visit www.uhy-us.com. UHY LLP and UHY Advisors are US members of UHY International (“UHYI”), a network of independent accounting and consulting firms. UHYI is ranked among the top international accountancy networks and a full member of the Forum of Firms.

Local Accountants Sleep Out for Homeless Youth

Recently, a group of young ladies from UHY certified public accountants participated in an event for the homeless. Suzanne Al-Jawadi, Diane Burek, Lisa Gjocaj, Hailee Johnson and Sam Siljanovski slept in cardboard boxes in Detroit with temperatures reaching the low 20s. The sacrifice came as part of the Covenant House Michigan Young Professionals Sleep Out, which Burek is a founding board member of.

This year Tony Frabotta, CEO of UHY Advisors matched contributions from a firm sponsored jean day dollar for dollar, in addition to Burek’s own match. Frabotta is a big proponent of giving back in our local community, and heavily supports employee’s civic endeavors. Burek and her team were able to raise nearly $6,000 with the help of Frabotta, and altogether the event raised around $70,000.

“I am always amazed at the spirit of giving exhibited by our staff both monetary and in participation,” Frabotta said. “Especially for Diane, Hailee, Lisa, Sam and Suzanne who endured the cold winter night in support of such a great cause.”

UHY Advisors Appoints Eight New Managing Directors, Two from Michigan Practice

UHY Advisors, Inc. (“UHY Advisors”), one of the nation’s leading professional services firms, announced the appointment of eight new managing directors: Thomas Bowen, Daniel Felstow, Amy Gallagher, Jeffrey Hare, Michael Kirby, Corey Massella, Bill Rausch and Warren Zafrin. Bowen and Felstow are both based in Michigan.

Additionally, UHY Advisors Michigan, Inc. promoted 56 other employees, including five principals: Marlene Beach, Alex Conti, Nichole Haviaras, Carolyn Johnson and Bob Kendall.

The firm’s Michigan practice is the fifth largest accounting firm in southeast Michigan with over 350 employees and celebrates its 50th anniversary this year.

Thomas Bowen is a managing director of UHY Advisors MI, Inc. and partner of UHY LLP. Mr. Bowen manages a team of professionals dedicated to providing high quality attest, tax and consulting services to a diverse client base in the manufacturing and distribution, real estate, construction and professional services industries. He works closely with business owners, CFOs and controllers in developing and implementing innovative business strategies to minimize risk, maximize profits, preserve wealth and reduce taxes. Mr. Bowen received his B.S. in Accounting Information Systems from Eastern Michigan University and is a licensed CPA in the state of Michigan. He has been with the firm and its predecessors since 1990.

Daniel Felstow is a managing director of UHY Advisors MI, Inc. and partner of UHY LLP. Mr. Felstow built his practice in the manufacturing and construction industries as well as co-leads the firm’s national auto dealership consulting group. He specializes in estate tax and business succession planning, tax strategies, financing assistance and mergers and acquisitions. Mr. Felstow received his B.S. in Accounting from Oakland University and is a licensed CPA in the state of Michigan. He is on the board of directors for the Sterling Heights Regional Chamber of Commerce and Industry and a member of the Kiwanis Club of Utica-Shelby Township. Mr. Felstow is the chairperson for the MICPA’s Automotive Dealers Task Force and actively involved in the Driving Force Auto Dealer Consulting Group, a national network of professional services firms that provide integrated tax, accounting and business consulting solutions to automotive dealers. He has been with the firm and its predecessors since 1988.


About UHY Advisors
UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market. UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors, operating in an alternative practice structure with UHY LLP, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit www.uhy-us.com.

All of the above entities are members of Urbach Hacker Young International Limited (“UHYI”), a worldwide network of independent professional services firms that provide audit, tax and advisory services around the globe. UHYI is ranked among the top international accountancy networks and a proud member in good standing of the Forum of Firms. Collectively, the US operating entities (UHY Advisors and UHY LLP) are the largest independent members of UHYI with significant participation, bringing the power of the international network to serve the individualized needs of US clients.

UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY Advisors, Inc. and UHY LLP are US members of UHYI, a UK company, and form part of the international UHYI network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHYI international network. Any services described herein are provided by UHY Advisors, Inc. and/or UHY LLP (as the case may be) and not by UHYI or any other member firm of UHYI. Neither UHYI nor any member of UHYI has any liability for services provided by other members.

UHY Strengthens Presence in Central America: New Member Firm in El Salvador Joins the UHY Network

We welcome, Asesores Y Consultores, S.A De CV, our new member firm in El Salvador, to the global accountancy network UHY, extending our coverage within the Central Americas region.

Asesores Y Consultores, S.A De CV, was established in 1996 and is based in the capital San Salvador. The firm provides a wide range of audit, accounting, finance, tax and business process outsourcing (BOP) services. Their typical clients range from large corporates to small and medium-sized companies covering a variety of sectors: agriculture, catering, education, financial services, insurance, IT, non-governmental organizations, not-for-profit, pharmaceutical, real estate and retail.

Managing partner, Omar Pérez of Asesores Y Consultores, S.A De CV comments: “El Salvador, bordered between Guatemala and Honduras, is the smallest and the most densely populated country in Central America. Since reducing its dependence on coffee, it has embarked on diversifying its economy by opening up trade and financial links and expanding its manufacturing sector. Our membership of the UHY global network will enhance our local capabilities and enforce our commitment to support international clients seeking to invest in Central America.”

Bernard Fay, chairman of UHY comments: “We are delighted to welcome Asesores Y Consultores, S.A De CV to the UHY network extending our coverage and capabilities in Central America. The firm has strong established links with our member firm, UHY Pérez & Co, in Guatemala who played a pivotal role in bringing the firm to the network and will be involved in the management of the firm. We strongly believe that the firm’s regional market knowledge and expertise should present a very good fit for our network.”


About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

Liaison office for Asesores Y Consultores, S.A De CV:
Contact: Omar Pérez, operez@uhy-sv.com, +503 2260-9000

About UHY
Established in 1986 and based in London, UK, UHY is a leading network of independent audit, accounting, tax and consulting firms with offices in over 325 major business centres across more than 95 countries. Our staff members, over 7,850 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY is a member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org.

UHY press contact: Dominique Maeremans on +44 20 7767 2621 Email: d.maeremans@uhy.com.

UHY International Meeting Heads to Detroit

UHY Advisors and UHY LLP are proud to welcome members from UHY International, one of the largest global accounting and consultancy networks in the world, to the Motor City for the 2018 International Members Meeting to be held in downtown Detroit. The 2018 meeting will be the largest gathering of UHY International partners ever with representatives from over 90 countries coming together to conduct business, gain education and experience the great comeback in Detroit.

“Antoine de la Mothe Cadillac discovered Detroit in 1701”, said Rick David, treasurer of UHY International and COO of the host firm, UHY Advisors at the most recent members meeting in Paris, France. “Now we invite our UHY International members to discover Detroit for themselves” as the meeting moves from Paris to Detroit in 2018.

Previous International Meetings have been hosted in: Brussels, London, Munich, Paris, and Singapore to name a few. Additionally, UHY Advisors will be hosting their National Leadership Conference concurrently also in Detroit.

“Combining our National Leadership Conference with the UHY International meeting in Detroit is a great opportunity for both our national and international partners” said Tony Frabotta, CEO of UHY Advisors. “Hosting these meetings together will allow everyone to experience the comeback of the Motor City first hand and build collaboration amongst with our international colleagues”.

“We were very interested in coming to Detroit to experience their renaissance first hand. Our members from around the world asked that we consider Detroit as the site of our annual meeting and we are grateful that our member firm in the US, UHY Advisors, accepted the role as host for our upcoming event” said Bernard Fay, chairman of UHY International. “With all of the buzz surrounding Detroit, this is the perfect time”.

UHY International is the 16th largest international audit, accounting, tax and consultancy networks by fee income with offices in over 325 business centers across the world.


About UHY LLP
UHY LLP, a licensed CPA firm, provides audit and other attest services to publicly traded, privately owned and nonprofit organizations in a number of industry sectors. UHY Advisors provides tax and advisory services to entrepreneurial and other organizations, principally those enterprises in the dynamic middle market.

UHY LLP, operating in an alternative practice structure with UHY Advisors, forms one of the largest professional services firms in the US. While that scale might provide confidence for some clients, others tell us our greatest value is the way we bring these resources to bear to help address today’s evolving business challenges. It’s a philosophy we call “The Next Level of Service”. To learn more visit www.uhy-us.com.

All of the above entities are members of UHY International (“UHYI”), a worldwide network of independent professional services firms that provide audit, tax and advisory services around the globe. UHYI is ranked among the top international accountancy networks and a proud member in good standing of the Forum of Firms. Collectively, our US operating entities (UHY LLP and UHY Advisors) are the largest independent members of UHYI with significant participation, bringing the power of our international network to serve the individualized needs of our clients.

Growth in US Business Numbers Outpaced by Many Other Economies Around the World

Growth in the number of businesses in the US has been outpaced by many other economies around the world in the last year, reveals a new study by UHY, the international accounting and consultancy network.

According to UHY, there has been a two percent increase in US business starts in the last year. There were 11 million businesses in total in the US in 2016 compared to 10.8 million in 2015 (see table below).

In comparison, overall across all countries in the study (21), business numbers in 2016 increased by eight percent on the previous year.

UHY points out that major advanced economies with already large numbers of businesses, such as the US, can often find it difficult to add to their stock, whereas emerging economies may have more capacity to do so.

It adds that although economic conditions and levels of entrepreneurship are healthy in the US, securing investment can pose problems for small business success.

UHY explains that failing to provide adequate data when soliciting investors or not doing enough research on the competitive landscape are key obstacles to accessing vital investment funds.
The Top 5 rankings in the UHY table for growth in business numbers are dominated by emerging economies.

China topped the table, with a 19 percent increase in business numbers in the last year. There were over 26 million Chinese businesses in total in 2016 compared to almost 22 million in 2015. India is in fifth position with an annual increase of seven percent to 1.1 million businesses in 2016.

Of the Western economies* studied, the UK is first, coming 6th in the UHY table. Numbers of businesses in the UK increased by six percent in the last year, taking the total to 3.9 million.

Rick David of UHY member firm UHY Advisors comments: “Enterprise and entrepreneurship in the US is growing, but not at the same impressive speed that some rival economies are enjoying.”

“Like many developed economies where markets are already highly competitive, America does not have the same scope to grow new businesses at such rapid rates found in China and developing countries. However, ambition remains strong.”

“It is important to remember that the US is still the world’s leading economy. Recent actions by policymakers in the US to revamp the US corporate tax system should significantly impact the growth of future business creation across the country. We expect moves, such as this to dramatically impact the ability of the US economy to keep pace with other similar, high-performing Western economies like the UK.”

“With a good number of incubators and accelerators in operation to support the start-up ecosystem, innovation and entrepreneurship are robust – but we need to make sure that whether the right conditions to allow businesses to thrive are in place.”

“Start-ups and small businesses must maximise their chances of securing much-needed investment funding by making sure they do their homework thoroughly, if they are to flourish and grow.”

China tops table for pace of growth in business numbers – increasing total stock by almost a fifth in a year

Rank Country Number of businesses in 2015 Number of businesses, in 2016 Amount change in number of businesses, % change in number of businesses.

1 China 21,982,000 26,115,000 4,134,000 18.8%
2 Pakistan 73,000 81,000 8,000 11.3%
3 Vietnam 442,000 485,000 42,000 9.6%
4 Malta 88,000 95,000 7,000 8.1%
– World 68,246,000 73,501,000 5,255,000 7.7%
5 India 1,070,000 1,143,000 73,000 6.8%
6 United Kingdom 3,679,000 3,897,000 218,000 5.9%
7 Denmark 297,000 308,000 11,000 3.7%
8 Israel 270,000 279,000 10,000 3.6%
9 Rep. of Ireland 198,000 205,000 7,000 3.3%
10 Russia 4,886,000 5,044,000 158,000 3.2%
11 France 4,836,000 4,973,000 137,000 2.8%
12 Australia 2,121,000 2,172,000 50,000 2.4%
– Major Western economies* 31,208,000 31,898,000 690,000 2.2%
– Europe 21,186,000 21,647,000 461,000 2.2%
13 United States 10,816,000 11,046,000 230,000 2.1%
14 Spain 3,512,000 3,586,000 73,000 2.1%
15 Japan 5,269,000 5,360,000 91,000 1.7%
16 Belgium 634,000 642,000 8,000 1.2%
17 Germany 3,469,000 3,503,000 34,000 1.0%
18 Poland 151,000 150,000 -1,000 -0.5%
19 Italy 3,139,000 3,120,000 -20,000 -0.6%
20 Portugal 1,181,000 1,169,000 -12,000 -1.1%
21 UAE (Dubai) 131,000 129,000 -3,000 -2.0%

*France, Germany, Italy, Japan, UK, United States

Notes on the figures (rounded to the nearest thousand):
Japan – 2015 figure is an estimate based on 2014 and 2016 figures; UK – figures have a year-end of 31 March 2016 and 2017, and are figures from UK’s Companies House on new incorporations and dissolved companies; Germany – 2016 figure is an estimate based on new registrations and de-registrations for 2016; Belgium – figures are for 2014 and 2015, the most up-to-date figures available; Vietnam – 2016 figure is an estimate based on annual growth rate 2010-15; Australia – Year end June 30 June 2015 and 2016; Pakistan – figures are for fiscal years 2015-16 and 2016-17 and measure the number of companies registered with the Securities and Exchange Commission of Pakistan (SECP).


About UHY LLP
UHY LLP is a licensed independent CPA firm that performs attest services in an alternative practice structure with UHY Advisors, Inc. and its subsidiary entities. UHY Advisors, Inc. provides tax and business consulting services through wholly owned subsidiary entities that operate under the name of “UHY Advisors.” UHY Advisors, Inc. and its subsidiary entities are not licensed CPA firms. UHY LLP and UHY Advisors, Inc. are US members of Urbach Hacker Young International Limited, a UK company, and form part of the international UHY network of legally independent accounting and consulting firms. “UHY” is the brand name for the UHY international network. Any services described herein are provided by UHY LLP and/or UHY Advisors (as the case may be) and not by UHY or any other member firm of UHY. Neither UHY nor any member of UHY has any liability for services provided by other members.

About UHY, the network
Established in 1986 and based in London, UK, UHY is a network of independent audit, accounting, tax and consulting firms with offices in over 296 major business centers across more than 90 countries. Our staff members, over 7,660 strong, are proud to be part of the 16th largest international accounting and consultancy network. Each member of UHY is a legally separate and independent firm. For further information on UHY please go to www.uhy.com.

UHY is a full member of the Forum of Firms, an association of international networks of accounting firms. For additional information on the Forum of Firms, visit www.forumoffirms.org.

UHY is an international association of independent accounting and consultancy firms, whose organizing body is Urbach Hacker Young International Limited, a UK company. Each member of UHY is a separate and independent firm. Services to clients are provided by the UHY member firms and not by Urbach Hacker Young International Limited. Neither Urbach Hacker Young International Limited nor any member of UHY has any liability for services provided by other members.

UHY press contact: Dominique Maeremans on +44 20 7767 2621 Email: d.maeremans@uhy.com.