It’s probably no surprise that the majority of business owners trust their accountant to give them valuable business advice – however what may surprise many people is how much more trusted accountants are than other small business service providers!
A recent study has shown that a hefty 50% of business owners believe their most valuable business advice comes from their accountant, with almost the same proportion (44%) turning to their accountant before anyone else for help. The second most popular source of business help was, perhaps disconcertingly, the Internet, with 21%!
Historically-trustworthy Bank Managers saw their reputations demolished by continued distrust of the banking sector – only 2% of those surveyed said they gave the best advice. Bank Managers are now only as trustworthy as Solicitors in the eyes of most business owners – ouch!
This survey was conducted by Sage, an accounting software provider, so obviously has to be taken with a pinch of salt. We know full well many people are wary of accountants due to historically high fees and a worrying lack of transparency. This is especially true in the contractor accountants sector, but we’re working hard to convince people that there is a better way!
Photo by Alan Cleaver