Accountants are in a privileged position: they serve the interests of numerous businesses that look to them for advice.
In some respects, they are like business trainers, they prepare clients for the rigour of building a business by getting them “match-fit”: accumulating the necessary resources and skills to deal with the journey ahead.
Sports trainers would not be successful in supporting their athletes in crossing the finishing line if they simply sat back expecting their proteges to magically achieve match fitness without any intervention. For the relationship to be successful, the trainer is required to work closely with the athlete to gradually build the physical and mental attributes that will contribute to their eventual success.
It is interesting to consider that accountants have a similar role with their business clients especially those that are facing challenges: the current uncertainties due to Brexit come to mind.
It would be interesting to poll advisers to see how many are actively supporting clients in achieving a reasonably smooth Brexit transition.
The issues that need to be considered have been dealt with in the financial press and on the government website for some time now. What is clear is that this is no time for ostrich like activity, sitting on the fence or sticking one’s head in the sand.
Fortunately, advisers who have engaged in helping their clients with business fitness issues will have placed these firms in a strong position to survive any downturn in economic activity. Even if a negotiated Brexit is achieved the training process with clients to achieve match-fitness will not be wasted. There are no downsides to being business fit and advisers will be able to bask in the referred glow of their client’s success.