Accountants are the most used and most effective source of business advice to small and medium-sized enterprises, ahead of banks, solicitors, trade associations and SME organisations, according to major new research carried out by Kingston University into the SME sector.
The report, Who are the Entrepreneurs? A Survey of the Owners of Small and Medium Sized Enterprises, interviewed the owners of 360 SME businesses employing between 5 to 249 employees in 20 minute telephone interviews between May and June 2002. The report shows that over two thirds (67.8%) of SME business used accountants for advice and support in running their business with a third (31.3%) listing them as the most effective source. This is far above all other advisers.