22-10-2007
Accountants play wider role in advising SMEs
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Small and medium sized businesses in Wales are increasingly turning to accountants for more than just accounting advice, it has been reported.
According to the Western Mail, research by Venture Finance has found that two out of every three SMEs in Wales would seek help in resolving a banking-related problem from their accountant.
"It is in the interests of the whole of the UK to ensure that [SMEs] can succeed and they need affordable, reliable banking services to do so," said Kelvin Thomas, director of Venture Finance.
"In light of increasing financial options accountants are increasingly expected to play the role of protector and guide," he added.
Moreover, within the UK, in addition to SMEs contributing a total of 50 per cent to the country's GDP, they also provide employment to 58 per cent of those working in the private sector, according to Venture Finance.
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