Accountants have been providing vital support to mid-market firms during the recession, it has been claimed.
According to Vijay Thakrar, who has just been appointed as a tax partner at Deloitte, the downturn has presented a range of challenges for such businesses and because of this they have sought expert advice.
He said: "We are working with such companies to focus more closely on understanding their customers and delivering value for money, whilst tightly controlling costs and managing cashflow."
This has helped mid-market firms to strengthen their financial position as well as their overall business strategy, he added.
Mr Thakrar's appointment came as research by Deloitte revealed that 70 per cent of managers at mid-market firms thing the recession has highlighted room for improvement in the way their organisation operates.
A recent study by Baker Tilly revealed that 41 per cent of chief financial officers at mid-sized firms have recently encountered problems with late payments.
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