Small businesses are increasingly reliant on their
accountants for help and advice that extends beyond that traditionally offered, a new study has found.
According to new data from Venture Finance, two-thirds of small businesses in Wales have asked their accountants to provide assistance on various matters, notably when they experience banking difficulties, Business in Wales reported.
And companies said that accountants' ability to secure finance and knowledge of various funding options are highly-prized assets.
"In light of increasing financial options accountants are increasingly expected to play the role of protector and guide," remarked Venture Finance's director Kelvin Thomas.
This trend was attributed in part to the limited financial understanding and knowledge of many entrepreneurs and small business managers.
The Federation of Small Businesses recently warned that e-filing of pension admissions will place additional pressures on companies that are already stretched.
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