Top 5 Reasons You Don't Change Accountant

1. I’VE BEEN WITH MY CURRENT ACCOUNTANT FOR YEARS

2. HE’S A NICE GUY, WE GET ON WELL

3. ACCOUNTANTS SEEM TO BE EXPENSIVE

4. I’M WORRIED IN CASE I LOOK STUPID ASKING SILLY QUESTIONS

5. IT’S A HASSLE TO CHANGE

Does that sound vaguely familiar? Many small business owners often find themselves in a rut, hesitant to implement necessary changes within their operations.

The five reasons for your small businesses not changing are the same five reasons why you definitely should change. These reasons can stem from a variety of factors, including fear of the unknown, complacency with current success, lack of resources, uncertainty about the future, and resistance to new ideas.

Each of these factors can create a significant barrier to progress, preventing businesses from evolving and adapting to the ever-changing market landscape.

However, it is crucial to recognize that the same reasons for stagnation can also serve as compelling motivators for transformation. Embracing change is essential for growth, innovation, and long-term sustainability in today’s competitive environment. For instance, fear of the unknown may be alleviated by conducting thorough research and seeking advice from experienced professionals who can provide insights and strategies tailored to your specific situation.

Complacency can be countered by setting new goals and benchmarks that encourage continuous improvement and inspire your team to strive for excellence.

Moreover, the lack of resources can often be addressed through strategic planning and budgeting, ensuring that you allocate funds effectively to support necessary changes. Uncertainty about the future can be mitigated by staying informed about industry trends and consumer behavior, enabling you to make data-driven decisions that align with market demands. Finally, resistance to new ideas can be transformed into a culture of innovation by fostering an environment that encourages creativity and open-mindedness among your employees.

At the very least, it is advisable to speak to a couple of accountants who can help you navigate these challenges and ensure you are getting the best for your business. Their expertise can provide valuable insights into financial management, tax strategies, and investment opportunities that can facilitate your business's growth and adaptation. Engaging with professionals can also help you identify areas where change is not only beneficial but necessary for your business to thrive in a competitive landscape.

While the reasons for not changing may seem daunting, they can also be the catalysts for positive transformation. By addressing these concerns proactively and seeking professional guidance, you can position your small business for success in the future.

If you’re asking if you should change accountant, then here’s why you should.

1) So you’ve been with your accountant for years, that’s brilliant. But has your accountant moved with the times? Do they simply deliver your accounts at the end of the year to fulfil compliance without adding any real value to your small business? Modern qualified accountants will want to get to know your business really well and be an ear to bend for both your concerns and ambitions. They should embrace new developments and technology to help you save time and to really understand your own figures.

2) It’s really important to not only get on well with your accountant, but to trust them completely. You don’t start a business to make ends meet – you want to make money, be successful and achieve your goals. So your accountant should be able to give sound practical advice on how make that happen. See them as an extension of your small business and not someone you make contact with once a year.

3) The traditional accountant was seen as expensive, untouchable and their prized asset was the ‘ticking billometer’. If your accountant starts the ‘billometer’ off as soon as you call/email then it’s time to change. Small businesses need access to expert, trusted advice when they really need it. They should make your life easier, not harder and be able to put your mind at rest with those pesky paper piles, tax returns and cash flow.

4) There’s never a stupid question for a small business owner. It’s your livelihood and your accountant should get that. If they don’t, find one that will.

5) This is the biggest misconception about changing accountants. If you find one you get on with, that is a champion for your small business, help you achieve your goals, add value and you trust, then go for it. You should not have to do anything other than pass their details on and your accountant will take it from there. It’s really easy.

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