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SMEs go to accountants before banks

Small businesses are increasingly turning to their accountants for business advice ahead of banks, according to a survey from Sage.

The report found that accountants are now the top sources of information for SMEs, followed by 31% who still turn to banks first and 29% who use industry trade associations for their business advice.

The most common issues that SMEs are contacting their accountants for advice on are tax planning (44%) and financial advice (39%).

“The research reinforces that during these difficult times, businesses expect more from their accountant and are going to them for general business consultancy rather than just number crunching, said Greg Ford, Managing Director of Sage’s Accountants’ Division.

“Our role is to support and help accountants overcome the day-to-day practicalities of crunning their practice so they an focus on what’s important to them and their clients.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .