AM380 - The Critical Role Of Accountants In Supporting SMEs

ESS BIZTOOLS Podcast (Accountant's Minute)

The success of SMEs in challenging economic times is increasingly tied to the advisory services provided by accountants. High interest rates, inflation, and business failures are creating significant hurdles, and many SMEs lack the fiscal management skills needed to navigate these issues. Accountants can play a vital role by offering continuous, year-round support, helping with debtor management, financial planning, and business enhancement systems. To remain viable, accountants should shift from traditional roles to becoming trusted advisors, as recommended by the former Tax Commissioner, thereby attracting clients focused on scaling their businesses.