ICAEW launches SME scheme

News Article - 21 March 2007
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The Institute of Chartered Accountants in England and Wales (ICAEW) has launched a scheme which will help guarantee small and medium-sized enterprises (SMEs) easier access to financial advice.

As part of the ICAEW's SME Funding Advisor Scheme, smaller businesses will be given details of accountancy firms to which they can go should they require support. These companies will be listed by their areas of specialism, with 2,000 already on the books.

The organisation's chief executive Michael Izza said: "Our research shows that accountants are the most frequently consulted source of external business advice by businesses.

"Our members already give guidance to many SMEs and because of our members these companies can do business with confidence."

The move has received support from the Government and Accountants Working Group, which stated that providing financial choice would help to facilitate free enterprise and contribute to SME growth, Microsoft's bCentral website reports.

When it was announced earlier this year, the scheme also received the backing of the Small Firms Advisory Panel of the British Bankers' Association, which said the initiative would help ensure prosperity.

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