If the research that’s been conducted in recent years has made anything crystal clear, it’s that small businesses need their accountants to be trusted advisers.
Sure, you prepare the accounts, perform tax services, keep the books, do audits and review the financial statements, but it’s the business advice you provide that can really add value to your clients’ businesses.
You’re the person who responds quickly, understands their industry and the intricacies of their business. You offer clear, reasonable pricing and you use plain language instead of accounting lingo. Why wouldn’t they come to you for advice?
The numbers tell a story
The bean-counting is a given; it’s what’s expected of you (and you can do it in your sleep!). But do you realise that you’re in an enviable position? The numbers tell you a story. The setting of each story is your client’s business and each financial element is a character playing a role and contributing to a plot. That plot is the company’s journey.
With your analytical and financial expertise, you have the advantage of being able to see the full story. You can identify potential conflicts, twists in the plot, and the path to a fitting resolution – whatever the fairytale ending may be.
Writing a chapter on funding
There are many value-added services you can offer; creating a long-range business plan, advice on succession planning, valuations, asset protection and assisting with a trade sale. But helping your clients access funding just might be one of the most important.
Letting your clients know about the funding options available to them when the time arises is just one of the ways you can prove your worth. There are two main reasons why funding is so critical: cash flow issues (many SMEs are dealing with this) and growth opportunities.
Access to working capital can be the boost they need to reach their full potential or the only way to keep the wolves at bay. Your role in proactively assessing and suggesting possible financial solutions may well be the key to their future success.
Can you read between the lines?
Small businesses are underserved in terms of access to finance. Many don’t know what finance options are available or where to get them and they don’t always have the savvy to compare solutions.
Business owners may only think of traditional providers when it comes to lending. However without assets as security or a straightforward business model, that might not be an option. What’s more, these traditional forms of finance aren’t always geared towards addressing the pace and dynamism of smaller businesses and their working capital needs.
Entrepreneurs will often rather raise money through debt or walk away from a loan that gives away equity. With small businesses being wary of equity financing and unfamiliar with the services that can provide inventive access to funding, they’re turning to their accountants for advice.
You know all the tricks in the book
With your expertise and knowledge of your clients’ businesses, you’re in the perfect position to help them secure finance. The large number of options in the market make understanding the quality and reputation of a provider essential. You’re best placed to help your clients make sense of the choices available and secure the best finance solution.
Whether they need a sophisticated long-term finance solution or a simple quick fix to an immediate problem, your knowledge of the channels available will set you apart.
It’s fact, not fiction, with MarketInvoice
While you might have to put in some effort to understand today’s complex funding landscape, there’s undeniably more value in your advice if you do. But if you know about MarketInvoice, you’re already ahead of the curve.
Click here to find out how we can work with you to unlock working capital, boost cash flow and accelerate growth for your small business clients.
Give your them a reason to make you an important part of their story.