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Accountancy services add up for small firms

Small companies depend on their accountants for more than just advice about their bookkeeping according to a survey by Venture Finance with many also turning to them for advice about other financial matters.

The company says that more than eight out of ten businesses are very happy with the service offered and also notes that one fifth of SMEs value accountants for their knowledge of funding options and ability to help them secure finance.

Invoice finance is the area that small firms most expect accountants to advise on and Venture suggests that this means businesses are increasingly looking at more flexible forms of getting payments settled. SMEs also said they would welcome guidance on reducing bad debt, trade finance and the government's Small Firms Loan Guarantee scheme.