Accountants 'can help small business thrive'

Date: 8th August 2008

Small business owners should consider hiring an accountant to help them with their bookkeeping and tax returns, as it will mean they have more time to focus on making their firm successful, one industry expert has said.

In an interview with the South Edinburgh Echo, accountant Steve McKenzie explained that sole traders and small business owners often find they have to spend a large amount of time acting as "unpaid tax collectors" for HM Revenue & Customs (HMRC).

The expert, a member of the Association of Accounting Technicians, said that using the services of a tax professional could actually mean a small business is able to make more money, as the owner will have more time to focus on its success.

"What [bosses] really want to do is to leave all the admin and bookkeeping to someone else and get on with doing what they are really good at - running their business," Mr McKenzie told the newspaper.

"In today's current economic climate, businesses want to try and control their costs."

Recently, tax expert Andy Hardy explained to smeweb.com that the current credit crunch has made it all the more important small businesses keep up-to-date with their bookkeeping.