Small firms turn to accountants for business advice
Over a third of small and medium-sized business owners have voted accountants as the first people that they would go to for business advice.
The survey, by Sage, also revealed that just 4% of small companies would go to their banks for advice, highlighting how far banks have fallen in the estimation of small business owners due to the financial crisis and government bailouts.
Advice from management consultants was valued by 9% of businesses (down from 22% in 2008), while solicitors were called upon by 2% of SMEs (a drop from 18%).
The survey also revealed that over 60% of accounting practices expect to grow their business over the next three years - although three out of four accountants believe winning new clients will be critical to driving growth at their practice.
“In these difficult times, businesses need information from objective, reliable and trusted parties,” said Jayne Archbold, managing director of Sage’s Accountants’ Division.
“The fact that accountants have emerged as the most trusted advisor underlines the value they bring to UK firms.”
