For accountants and other advisers to the business sector this is a time ripe with opportunity. When the going gets tough – in business circles – firms should be dusting-off their advisory services and showing their beleaguered clients how to use financial umbrellas to shelter them from current and emerging challenges.
This month the new face of government will get into action.
There is declared support for consumers and UK businesses to assist with the settlement of energy bills and Chancellor Kwarteng’s first, all-be-it, mini-budget has outlined how they will support economic growth in the coming months.
With a whole raft of challenges to this expansive agenda – inflation, rising energy and other costs, increasing interest rates – the ingredients for difficult trading conditions have never been more apparent.
What to do?
Professional advisors will need to accommodate the concerns of clients in the coming months. The existing responsibilities to prepare and file accounts and returns will remain, but other challenges will make themselves evident as clients struggle to meet other trading concerns.
However, problem solving is a skill that accounting professionals have in abundance, and now is an opportune time to dust off those skills and promote them to your beleaguered clients. Don’t hide your lights under the proverbial bushel. Time to step out and support clients, after all, their success underscores your success.