When Mark Ampaw boarded a plane to the United States in 2001, the seasoned accountant from Ghana had little idea he was embarking on a journey that would transform his life and career.
Recruited by the Milwaukee-based CPA firm Coleman and Williams, Ampaw came on a three-year visa with plans to gain international experience and return home. But fate—and determination—had other plans.
“I came here on a three-year work visa,” Ampaw recalls. “My plan was to do the CPA, get an MBA, work for three years, and then go back. But after three years, my boss convinced me to stay for another three years.” By the time the second extension came to an end, Ampaw’s family had joined him in the United States, and Milwaukee had become home.
Employee to Entrepreneur
The three-year commitment at Coleman and Williams became 12, as Ampaw rose from an audit associate to an audit manager. In 2012, armed with a green card and a CPA license he had earned in 2003, he decided to strike out on his own. That year, he launched Ampaw Associates, a CPA firm specializing in government and nonprofit audits as well as tax services.
“After six years, my boss filed the green card for me. He put in the application for the green card, and I (thought), I think I want to stay here, and I want to work on my own. I want to start my own business,” he says. “But I didn’t know it was going to take that long for me to get a green card. I thought I was going to get it between two to three years. It took a very long time.”
Starting his firm was not without challenges. “Referrals play a key role,” he says. “You can put yourself online, but people call you and they will have some doubts. But once you have one or two clients, and you perform very well, they’ll start telling other people how good you are,” he said.
Peer Reviews and Persistence
Peer reviews, a rigorous evaluation of a CPA firm’s systems and practices, became a turning point for Ampaw’s business. “It’s like an audit of your audits,” he explains. “Another CPA firm comes in, reviews your systems, selects a few engagements, and ensures you’re doing it the right way.”
Ampaw completed his first peer review in 2019, which opened the door to lucrative government contracts. Today, his firm audits about 20 of the 30 group homes in Milwaukee, along with other nonprofits and government-funded organizations across Wisconsin.
Running a small firm presents unique challenges, especially in a competitive field dominated by larger companies. Expansion is on the horizon, but Ampaw is cautious. “If I had a big job, sometimes I get a big contract, and I’d have CPA firms that I work with on contract,” he said. “For me to grow it, I have to bring on another partner. I don’t want to bring on a lower-level staff. I want to bring on someone who is another CPA, so we can form a partnership.”
Ampaw’s journey is deeply tied to his community. A member of the Greater Milwaukee Chamber of Commerce, he credits the organization with providing support and referrals that have helped his business grow. “Sometimes, people call them looking for an accountant, and they send them my way,” he said. “It’s been good. Business has been good.”
For those considering starting their own accounting businesses, Ampaw offers practical advice: “I always encourage them, because I get a lot of calls for bookkeeping engagements. Almost every day, someone calls me—‘Oh, can you do my bookkeeping?’ No, I don’t do bookkeeping. And then I’ll refer them to other firms. Anytime someone starts a business, they need a bookkeeper or an accountant to do their taxes, so there’s a high demand for that service.”
He emphasized the importance of building a client base gradually. “Start with bookkeeping. Even if you’re not an accountant, just enroll in a QuickBooks program,” he said. “You can get QuickBooks accounting clients, do that on the side, and then build your client base. After some time, you’ll have 10 or 20 clients. Then you can stop your regular job and be on your own.”
Now in his twelfth year of business, Ampaw reflects on the journey with pride. “As I sit here (with) almost 400 clients, it’s still going great. And I’ve never advertised,” he says, noting that his tax business relies entirely on word-of-mouth.
Looking ahead, he hopes to continue serving his community while exploring opportunities for growth. “I’d like to expand and take on larger contracts,” he says. “But that requires building a bigger team, and I want to do it the right way.”
