RSS feedsAccountants are still the advisers of choice for small and medium-sized companies in the UK, but there’sno scope for them to rest on their laurels.
Competition for the top spot is hotting up, with banks, solicitors and government-funded organisations all diversifing their services. Nearly three quarters of SMEs consulted an accountant within the previous year for business advice, according to figures from the Federation of Small Businesses.
But while the majority of respondents (59%) were happy with the advice they received, satisfaction levels were noticeably down on previous years (68% in 2002 and 65% in 2000).
Unfortunately, the levels of satisfaction for non-accountant business advice are creeping up, particularly among new businesses (up to three years old). As the economy improves, and the number of start-ups picks up, the survey should be a wake-up call to smaller firms vying for new business.In addition to the level of business advice, SMEs rate advisory firms on the quality of business advisers, the relevance of products and services, understanding of their business and, perhaps not surprisingly, cost.
The survey was conducted among more than 18,000 FSB members representing a wide range of industry sectors.
