There's never been a more exciting time for small firms, here's why...

accountant accounting accounting profession small accounting firms Sep 07, 2020

If you're an accountant, what stage do you think the accounting profession is in? I think we're in a really exciting place at the moment, but actually it's, it's a mixed view depending on which sector of the accounting profession you're in.

I think the likes of the big four, the big 10 even are in a very different place to where the small firms are. The sole practitioners to three-part of firms who essentially have been spearheading the move towards cloud towards digital, the embracing, the technological revolution that has taken place over the last few years, because they've been so nimble and agile and been able to adapt to change. Whereas the likes of the big four and the top 10, a bit more sluggish but left behind, still attached to the notion that they are setting time employees you in using timesheets.

That has been born out. Unfortunately seeing that many of them have furloughed large elements of their workforce during the last few months. So actually going ahead it's an exciting time for us at the lower end of the spectrum in terms of size when it comes to the accounting profession where we were able to really embrace software the new ways of working, actually using the software as a tool to build stronger longer-lasting client relationships.

We're adding real value where we are helping them, the backbone of the UK economy, the SMEs, the entrepreneurs, those ambitious business owners with building their businesses, with helping them with their growth plans, with managing their finance function much more cost-effective these days than they ever could in the past having to employ their own finance people whereas us accountants at the smaller end can manage that all in-house for them.