When someone decides to launch a business, they generally have ambitions of making a difference by doing something that they love. Whether it be running a specialist retail outlet or offering up a unique service, small business owners are very often required to carry out roles that are not suited to them, simply because they can’t afford to hire staff. This lack of expertise can result in a company failing, or the entrepreneur burning themselves out.
However, when it comes to managing money, an accountant can be an invaluable help. SME owners just need to be convinced that they require assistance and that the cost of hiring an accountant is far outweighed by the amount of money they will save in the long run.
Small and Medium Enterprise –Â Small businesses owners
Did you know that there are around 5.4 small and medium sized enterprises (SMEs) in the UK? Or that this figure accounts for 99% of all businesses within these shores? Well, they do, and that means huge opportunities for accountants.
Small business owners are often under a lot of pressure. Much of the business’ day-to-day running rests on their shoulders; they are forced to carry out numerous tasks – sales, marketing, HR – simply because that is the nature of the beast. However, while some owners of small businesses attempt to do their accounts on their own, rarely is this the most fruitful option.
Accountants are experts when it comes to all things finance, and this is something many entrepreneurs either fail to recognize or fail to appreciate. However, when they realise that UK SMEs lose almost £3bn annually due to poor accounting practices, they will quickly start to sit up and take notice.
Small Businesses Owners: Making a difference
In this era of financial uncertainty and Brexit confusion, the ability to manage money efficiently has never been more vital. Accountants can make a real difference by helping companies navigate tricky financial waters. This is especially important given the economic ambiguity that lies ahead. Accountants are becoming increasingly valuable, and the skills of a good accountant will be much desired in the coming years.
If you want to get your foot on the accountancy ladder, there is no better place to learn the trade than at Mont Rose. We have helped hundreds of aspiring accountants attain their goals, and we are determined to do our bit for British businesses by giving the financial experts of the future the best possible start to their careers.
Get in touch today, and learn more about how you can make a difference.
