80 per cent of small businesses outsource their accounting and bookkeeping to external service providers, yet a worryingly 70 per cent say they would not recommend their adviser.
According to recent research by Xero, 27 per cent of small businesses are currently looking to switch accountants, while 34 per cent will go as far as to say they would tell people to avoid their accountant.
With the implementation of new legislation such as Making Tax Digital, there is now an even bigger impetus on client satisfaction, with small business owners citing industry insight, proactive advice and support, technical competence, and the feeling that they are the priority, as the key attributes they are looking for from their adviser.
However, amongst the top mistakes causing business owners to switch accountants are: rarely providing support (62 per cent), limited industry knowledge (57 per cent), making them feel like a low priority (55 per cent), being behind on technology (53 per cent), being unresponsive (52 per cent), and not providing enough value (44 per cent). In fact, all the attributes they say they expect from their business adviser!
But help is at hand….
At Beavis Morgan, we specialise in working with small businesses and entrepreneurial people across a wide range of sectors, helping them set up and run their own businesses and guiding them through each stage of the business lifecycle, while navigating the challenges and advising them in making the right decisions both now and for the future – for themselves, their families and their businesses.
We believe in strong client relationships built on trust, excellent service, and sound advice, and our proven track record and long-term client relationships, many of whom we have partnered with from start-up, though growth and beyond, is testament to our ability to deliver.
To find out more about how we can help you and your business, contact Steve Govey or your usual Beavis Morgan Partner.
Further reading:
Which phase are you in and what actions do you need to take now?
Choosing an accountant for your business
Click here to view a range of articles which practical advice and tips for entrepreneurs and SMEs.