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Accountants – Small Businesses’ Unsung Heroes?
 Running
a business is not easy, and a new survey has
found that a large number of small
businesses get much more beneficial services
from their accountant than just accountancy!
A survey from business software provider
Sage has shown that over three-quarters of
business owners (76 percent) feel that their
relationship with their accountant is very
important to the smooth running of their
business. Nearly half (43 percent) also
said that accountants are one of the most
trusted sources of business advice, with 31
percent saying that their accountant has had
a direct influence on the company’s
revenues.
The survey conducted by YouGov questioned
1,378 business owners, asking questions
about the importance of accountants and the
effect they have on their business. The
research also questioned those business
owners who have had some previous
accountancy training, gathering their views
on how important their training had been to
them in their business life (see separate
release).
The majority of companies (71%) believe that
accountants are trusted because they have a
good understanding of business needs and
issues. Importantly, 59% believe that
accountants can provide practical advice
above and beyond their financial background,
with 14% saying they have received advice on
the best IT systems to help run their
business.
Zoe Walsh practice manager at TPH
Accountants comments, “Throughout my years
as an accountant, I have personally seen how
my job role has changed. Whilst we are still
relied upon as being sources of great
financial information, accountants have had
to broaden their offerings, increasingly the
value that we bring to our clients.”
The findings demonstrate that whilst
accountants are relied upon mainly for their
financial counsel, they also have the
confidence of a great majority of business
leaders in the UK when providing quality
business advice.
Greg Ford, managing director, Sage
accountants division comments, “For a long
time we have been firmly of the belief that
the guidance of an accountant is critical to
the success of a business. However, what we
are seeing now is a changing role for
accountants. Whilst they are still viewed as
a financial authority, they are also being
asked for general business advice, to the
point that they have a direct influence on
the revenues of a company.”
Indeed, the role of accountants is set to
further increase in importance. Forty
percent of business owners commented that
their company’s relationship with their
accountant would be more important in the
future than it is today. A quarter (25
percent) said that their company would not
survive without their accountant.
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