Business owners have spoken. In two separate surveys, they have expressed that their trust is more inclined to be given to their accountants than to their bank managers.
According to the survey conducted by Sage Omnibus, 21 percent of the 1,000 customers that they had interviewed have said that they are more open to their accountants than they are to their bank managers. From the 1,000 respondents, half believe that it is their accountants that have the most valuable business advice. Meanwhile, 4 percent believe in the advice of their friends, 2 percent believe in their family, 2 percent in solicitors, and another 2 percent in bank managers.
In the same survey, results indicate that about 44 percent come to their accountants for business advice. They do this more than they do with their friends, family, or spouse.
“Accountants have played a key role in the success of many businesses, but it is in challenging times that the value they bring really comes to the fore. More business owners than ever are turning to accountants for guidance as the regulatory landscape evolves, and the fact that over one in seven are more honest with their accountant than they are with their nearest and dearest underlines just how valued their counsel and advice really is. Businesses that view accountants more as trusted partners and less as mere service providers when accounts need to be filed are also better placed to make the most of new technologies, including cloud-based software and mobile apps that provide access to up-to-the-minute information anytime, anywhere,” said Jim Scott, managing director of Sage Accountants Division.
In a separate survey by MSI Global Alliance conducted in March 2011, the same results came out where businesses still believe more in their accountants than in their business advisers. The survey covered 600 Australians and 240 New Zealand business owners.
Accountants are approached by these business owners for general business advice, advice on business strategy, and advises on personal tax structures.
In terms of the best people to give the soundest retirement planning advice, financial planners are still at the top with 40 percent. This is despite the fact that a lot of reports had been written telling about their lack of professionalism. Second to them are accountants with 37 percent. This is also despite that fact that accountants are not allowed to give financial advice to their clients.
The appalling revelation is that banks have only been rated 10 percent in terms of the trust they are given on advices on business finance and retirement planning. According to the respondents, they give more trust to their accountants, lawyers, financial planners, and their business coaches more.
According to the survey, the respondents’ perception of accountants include them being too focused more on past performance, not wanting to leave the office, and their partners not being accessible.
With these, it can be said that accountants are more reliable. Therefore, it is also necessary that they be given the convenience in the performance of their jobs. Therefore, it is encouraged that small businesses use Australian accounting software or any of the available online accounting programs. And when you are looking for the best company to provide that, then it is best to choose Shoebooks in Australia. It provides the most effective and efficient Australian accounting software and bookkeeping accounting software.
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