Small Business Owners Increasingly Relying On Accountants

Fri, 21 Sep 2007

More than two thirds of small business owners would turn to their accountant for advice if experiencing banking problems, according to new research .

The poll, conducted by Venture Finance, is further evidence that small businesses are increasingly turning to their accountants for expertise on a wide range of issues and that they are playing an increasingly sophisticated role within the small business sector, the company claimed.

Steve Websdale, director of Venture Finance, commented: "Small businesses employ 58 per cent of the private sector workforce and contribute 50 per cent of UK GDP ."

"Their success is vital to the economic well-being of the country. It is in the interests of the whole of the UK to ensure that they can succeed and they need affordable, reliable banking services to do so."

"In light of increasing financial options accountants are increasingly expected to play the role of protector and guide," Websdale added.

Meanwhile a separate survey, carried out by software providers Sage, provided similar findings.

It found that roughly 25 per cent of business owners believe their firm would not survive without their accountants .

Around 60 per cent said accountants provided non-financial advice, while 14 per cent stated they had even received help with IT matters.

In addition, 76 per cent of business owners said their relationship with their accountant is very important to the smooth running of their business, and 31 per cent said their accountant had a direct influence on the outcome of company revenues .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.