Nearly a quarter of business owners believe their firm would not survive without their accountant, it has been claimed.
Accountants are often the most trusted source of business advice, according to a survey by software providers Sage.
Over three quarters (76%) of business owners said their relationship with their accountant is very important to the smooth running of their business, and 31% said their accountant had a direct influence on the company’s revenues.
“For a long time we have been firmly of the belief that the guidance of an accountant is critical to the success of a business,” said Greg Ford, managing director, Sage accountants division.
“However, what we are seeing now is a changing role for accountants. Whilst they are still viewed as a financial authority, they are also being asked for general business advice, to the point that they have a direct influence on the revenues of a company.”
Nearly 60% those surveyed said accountants provided non-financial advice and 14% said they had even received IT help.
Accountants are trusted because they have a good understanding of business needs and issues, according to 71% of business owners.
The role of accountants to the success of a company is set to increase in value, as 40% of entrepreneurs said their company’s relationship with their accountant would be more important in the future than it is today.
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