Small Business Advice

Nine out of ten small businesses think their accountants under-deliver

13 Aug 2015

It’s an uninspiring fact that anyone living in a western economy has become conditioned to depressingly benign rates of economic growth. So when the UK’s latest GDP figures were released last week, showing the UK’s economy had grown by 2.6% over the past year, people were really quite pleased.

But for small business owners, a growth rate of two or three percent means nothing. For entrepreneurs, the difference between success and failure often feels like it is balanced on a knife edge.

Perilous path to success

For small business owners, having a great idea is not enough. The challenge often lies in getting your product or service in front of your target customer base, and doing so before your money runs out. And with large outgoings like salaries, PAYE and VAT appearing at regular intervals but as varying amounts, it is actually quite hard to forecast your cash flow on the fly without help from an entrepreneurially minded accountant and a firm of accountants that fully integrate with the best and easiest in online accounting..

So for many small business owners success is measured not as a percentage, but more often than not, in terms of survival. But with risk comes reward, and it is this sense of excitement that drives entrepreneurs to succeed.

Keir Wright-Whyte

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Managing Director

0207 043 4000

About the author

Originally graduating with a degree in geography from Edinburgh University, Keir claims that he was then tricked into becoming an accountant by one of the UK's top 5 accountancy practices.The deception extended to the usual training in audit and associated activities.

Keir subsequently worked in a number of advisory roles with clients including in the energy trading, pharmaceuticals and financial services sectors.

He loves working at Accounts & Legal because of the variety of work and clients, the excellent team ethos and morale, the importance placed on genuinely helping and being useful for clients and because he believes what he does matters to clients and helps the firm.

Keir's primary role is to ensure that new clients with complex businesses or needs are on-boarded in the best way and he is a "trouble shooter" both for clients and where complex issues arise internally. He also helps the accounting teams strive to improve what we do for clients, whether processes or services.

When not debiting or crediting, Keir has a penchant for fixing old buildings, skiing, surfing and cycling.

  

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