Welsh SMEs look to accountants

News Article - 19 October 2007
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Small and medium-sized enterprises (SMEs) in Wales are relying on their accountants to provide business advice as well as financial assistance, it has been revealed.

Data supplied by Venture Finance found that two-thirds of SMEs are looking for their accountants to provide a range of advice, particularly when they are experiencing difficulties with their banking services, Business in Wales reports.

Kelvin Thomas, the director of Venture Finance, commented: "In light of increasing financial options accountants are increasingly expected to play the role of protector and guide."

In addition, 20 per cent of the SME owners polled said that the most vital aspect of their accountants is an ability to have a good working knowledge of funding options and being able to secure finance.

The Federation of Small Businesses recently criticised the government's insistence that pension admissions must be filed electronically, stating that this will add to the burdens faced by companies.

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