Millennial power and the top young accountants
Today's Daily Insight focus is on millennials. According to a terrific report in yesterday's Financial Times those aged between 22-37 are the world's most powerful consumers.
They are reaching an age now where, according to the big banks, their economic activity is "important". And there lots of them ... 2 billion worldwide. India's 410 million millennials are expected to spend about $330 billion annually by 2020.
But millennials don't want mass-market products made by massive corporations.
They like things to be niche. Think craft beer, tattoos and gourmet ketchup. Artisan coffee and baked goods. Camping experiences captured on video. Lots of technology. Going local. It's probably a reaction to globalisation.
Chilling out in check shirts
But it's not all chilling out in check shirts, though. There is a pervading feeling of powerlessness among many younger people, particularly in Europe and the US. Plus money, especially for housing, is a major worry for lots of millennials.
Which brings us reasonably neatly to Accountancy Age's latest series on the 35 leading accounting professionals aged under 35. The annual ranking "spotlights rising talent in the accountancy industry, featuring those who have made outstanding contributions to their field in their career to date".
Management development programme
The rankings so far posted can be found here. Among those listed up to press, at 34, is Jo Nockels, senior training and communications manager, at TaxAssist Accountants started in practice at Larking Gowen and, in 2010, joined TaxAssist. She became a senior manager in 2014 and in 2016 was selected for the firm’s management development programme.
At 27, is Laura Adkins, director at Whitley Stimpson. Adkins is responsible for the audit of the some of the firm’s largest corporate clients. "She has taken a lead role in growing the business and developing, recognising and rewarding its people. She is a strong advocate for staff welfare and training and is responsible for training across Whitley Stimpson’s four offices," says Accountancy Age.
And at 21 is Philip George, partner at Forrester Boyd. George joined Forrester Boyd on after university, and received successive promotions before being made partner after nine years at the firm. "George is responsible for external business growth and in collaboration with the business development manager actively seeks new business opportunities by informing clients of the potential benefits of cloud accounting," says Accountancy Age.
