CA who Quit his Job in 2016 for Practice Now Earns 30X with a Team of 30: Know More Here

Know the Inspiring Story of a CA who quit his job to begin practice in 2016
Sushil Singh - Sushil Singh & Associates - Sushil singh and associates - Chartered Accountant - Chartered accountant success stories - taxscan

In 2016, Sushil Singh, the Founder and Managing Partner of Sushil Singh & Associates, embarked on an unplanned entrepreneurial journey. He qualified as a Chartered Accountant and moved to Delhi with a singular goal: to lead an independent practice at a mid-sized CA firm.

Unlike many of his peers, he wasn’t interested in joining the Big 4 or tier 1 firms. Instead, he wanted to lead the branch of a mid-sized CA firm, where he could gain exposure to diverse practice areas like tax, audit, and advisory services.

The Birth of Sushil Singh & Associates

His aspiration was often misunderstood during interviews, perceived as arrogance, leading to multiple rejections. However, luck favoured him, and he found a firm that matched his vision. Within 1.5 years, he was promoted to Partner, exactly as he had aimed.

After a successful 10-year tenure at the CA firm, where he built the firm as if it were his own, Sushil never planned to start his own firm. However, his desire to take risks and embrace new challenges led him to establish Sushil Singh & Associates in 2016. Supported by his father, who provided the initial funds, he started with a 700-square-foot office in South Delhi.

Despite having no clients for the first 30 days, Sushil focused on networking and learning, eventually landing his first bill for four certificates totaling INR 20,000. Gradually, the firm grew, earning INR 36 lakhs in its first year, as reported by The Finance Story.

Growth and Milestones

The introduction of the Goods and Services Tax ( GST ) in 2017 proved to be a game-changer, levelling the playing field and allowing the firm to expand its expertise in direct and indirect tax practice. By 2018, the team had grown to 12 members, landing large tax litigation assignments. From 2019 onwards, the firm experienced nearly 100x growth each year.

In 2022, Sushil onboarded his first Senior Partner, Pankaj Agrawal, to handle work delivery while he focused on business development. By 2024, the firm had achieved significant revenue milestones and expanded to a team of 30, including chartered accountants, articles, and semi-qualified members.

Looking ahead, Sushil aims to grow the team to 50 members over the next three years, with a focus on delivering high-quality work. The firm plans to hire senior professionals with 5 to 15 years of experience in various domains, including tax and audit.

Approximately 50-60% of the firm’s revenue comes from tax and litigation practice, with expertise in corporate tax assessments, transfer pricing, internal taxation advisory, and post-search investigations. Another 20% of revenue comes from audit services. The firm also supports startups through incubation services and maintains a client base that primarily includes medium and large enterprises.

Sushil, in his interviews, highlighted the importance of building visibility and credibility. He actively shares his expertise through writing, speaking engagements, and participation in professional communities. Client retention is achieved by prioritising their needs and maintaining strong, trusting relationships.

Starting his own firm has been challenging but rewarding for Sushil. Today, the firm’s revenue is 30 times the salary he used to earn. Despite the sacrifices in family time and personal well-being, Sushil believes that the passion for establishing a legacy and the drive to create something meaningful make the entrepreneurial journey worthwhile.

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates

taxscan-loader