The Wow Company’s annual Benchpress survey, released this week, has shown that more independently-owned UK creative agencies than ever have chosen beautiful accounting software to manage their businesses.

2015_MAR - UK - Benchpress: Beautiful accounting software the #1 choice for UK creative industry

http://www.freedigitalphotos.net/

The industry’s adoption of Xero has increased dramatically from 19% in 2013 to 49% in 2015, making Xero the number one choice of accounting software for creative agencies.

Benchpress, Creatives use Xero

The mass migration to Xero is also reflected in the increased uptake of Xero-integrated applications for Project Management, such as Streamtime, Harvest and WorkflowMax.

Exciting times for 2015

The survey also found that UK creative agencies plan to hire more staff (68%), undertake more marketing activity (56%) and increase their prices (51%) in 2015.

There is also a changing attitude to growth. In 2014, 45% of UK agencies grew by no more than 10%. But this year, 77% of agencies say they are expecting to grow by more than this, and 68% are actively looking to recruit in 2015.

Benchpress Survey, Growth

The third annual survey was completed by just under 300 agencies across the UK and was promoted by key industry associations: BIMA, the IPA, The Agency Collective and the Drum Network.

We also learned…

  • 18% of agencies don’t know how much profit they’re making
  • 43% rarely or never charge for extras or scope creep
  • The average charge-out rate in UK agencies is £86 per hour

Paul Bulpritt Xero

Paul Bulpitt is a small business customer and co-founder of Xero accounting partner Wow Company