Small business owners

Businesses need information from objective, reliable and trusted parties

Small business owners are turning to accountants for business advice, with just 4 per cent going to their banks, according to a survey by Sage.

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 per cent 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 bail-outs.

In these difficult times, businesses need information from objective, reliable and trusted parties.

Advice from management consultants was valued by
9 per cent of businesses (down from 22 per cent in 2008), while solicitors were called upon by
2 per cent of SMEs (a drop from 18 per cent).
The survey also revealed that over 60 per cent of accounting practices expect to grow their business over the next three years.

“In these difficult times, businesses need information from objective, reliable and trusted parties,” said Sage’s Accountants’ Division.

“The fact that accountants have emerged as the most trusted adviser underlines the value they bring to UK firms.”
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