Skip to main content

Business leaders rely on accountants to make finance decisions


The majority of business leaders rely on accountants to make finance decisions, a new survey has found

According to a survey of 3,874 managers, directors and C-level post holders by business finance company MarketInvoice, 56% said that accountants were their most important external advisers when considering business finance options.


Only 23% of them relied on commercial finance brokers and only 3% would consider speaking to a bank directly.


The survey found that 38% of business leaders expect a cash squeeze in the next six months. They said they would ask for support and guidance from accountants over this period, and would turn to invoice finance (35%), bank overdrafts (30%) for additional funding and business credit card s (7%).


In a bid to cut costs, business leaders said they would put expansion plans on hold (34%), delay launching new products (33%) and reduce marketing spend (20%).


Darvish Heshejin, head of partnerships at MarketInvoice, said, “Accountants and commercial finance brokers are increasingly becoming the default go-to for companies seeking advice on business finance, especially where funding is required quickly.


“It's imperative that these professionals are aware of the wider funding opportunities available to provide the best, most comprehensive advice to their clients and find the solution that fits.”


On Monday, the latest ICAEW Business Confidence Monitor warned that businesses are failing to invest at the level needed to boost economic growth despite the need to look ahead to a future post Brexit.


Job creation, staff development and R&D budgets are growing far more slowly than revenues, since more than 50% of businesses are working at below capacity.


source: www.economia.icaew.com

Labels:

Comments

Post a Comment

Popular posts from this blog

Outreach event on the principles of disclosure discussion paper in Hong Kong

On 5 September 2017, the Hong Kong Institute of CPAs and the IASB will host a joint outreach event in Hong Kong on the IASB dis­cus­sion paper DP/2017/1 'Dis­clo­sure Ini­tia­tive — Prin­ci­ples of Dis­clo­sure'. The event will cover main elements of the  dis­cus­sion paper , including: “what con­sti­tutes effective com­mu­ni­ca­tion in the financial reports;” “what con­sti­tutes fair pre­sen­ta­tion of per­for­mance measures such as EBITDA;” “when, where and how financial in­for­ma­tion should be disclosed.” For more in­for­ma­tion, see the  press release  on the IASB’s website.
Post a Comment
Explore more »

The International Federation of Accountants (IFAC) has said that the Association of National Accountants of Nigeria (ANAN) has huge leadership roles to play with the available manpower to grow the Nigerian economy.

The President of IFAC, Mrs. Olivia Kirtley, at a Breakfast Meeting in Abuja, with the President of ANAN, Anthony Nzom, and the Chairman of the Economic and Financial Crimes Commission ( EFCC ), Ibrahim Magu , among others, made the charge. She said that to grow the Nigerian economy, the roles of accountants are very important and remarkable, as Nigeria is one of the three countries that produce 75 per cent of accountants in Africa, making it a strong base for accounting profession. “ANAN should educate politicians and governments at all levels on the need to have stronger professional Accountants. As an organisation, it should be a champion in knowing things that work well and those that are not working well for the economy. “Accountants need to establish good relationship with government at all levels and the political class to have firm regulation of the profession,’’ Kirtley said. According to her, the capability of accountants to provide financial information to companies and ...
2 comments
Explore more »

IFRS Foundation issues 2017 IFRS TAXONOMY FORMULA LINKBASE.

The IFRS Foundation has issued the 2017 IFRS Taxonomy Formula Linkbase. The Formula Linkbase is updated from the 2016 version; it is designed to help improve the data quality of IFRS Taxonomy filings and to provide additional guidance for both technical and financial reporting audiences so that they can better understand the IFRS concepts and their meanings.
Post a Comment
Explore more »