Among small businesses that achieve high growth, sometimes there may be a temptation to look to the mid-tier accounting firms for support. Is this always the best choice?
The thinking seems to be that there comes a point where the small accounting practice no longer has the depth of expertise or contacts to help the ambitious entrepreneur achieve their goals.
Sometimes, of course, this may be so. Other times, maybe not. When small business owners evaluate this issue, do they sometimes undervalue the benefits of staying with the right small firm?
Obviously I have a vested interest here. But I would like to highlight some of the benefits of working with smaller firms, which from my own experience may sometimes be overlooked or perhaps a little bit undervalued.
1 Big fish, small pond
As a large client of a small firm, you get to be the big fish in a small pond. Not the other way round. You really matter! You can expect to get the top team when you really need it, who are likely to be very highly skilled - even in the smallest of firms.
2 Personal relationships
Small firms can offer exceptionally productive, stable and long-term relationships with you and your team. One reason is that small firms often enjoy relatively low levels of staff turnover, helping the working relationships and the depth of understanding of your business within the small firm build up over time.
3 Time with the senior people
As a big fish, you are more likely to get regular access to the most senior people in the whole firm, at the times you want. Karen and I will meet with all of our clients, no matter what the issue.
Advances in technology are making it easier for small firms to provide amazing services to growing businesses. Through our cloud accounting services you can access cloud software at sensible prices and receive up-to-the minute financial data and advice, wherever you are. Your accountant does not have to be five minutes down the road any more - those days will soon be over. Many of our clients are based hundreds of miles away from our head office, but they get the same level of service and attention as our 'local' ones.
5 Access to expertise
You can get the right depth and breadth of expertise from a small firm, even if your business is growing fast! Not only are the people in your small firm likely to have considerable skills and experience (our senior people have over one hundred years' industry and advisory experience between them), but as accountants we also have access to wider expertise... through our professional networks. These extend to hundreds, if not thousands of skilled individuals and teams.
We love to help our small business clients grow and prosper. Give us a call today to find out how we can help you.