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Accountants are key to economic recovery, say small business owners

05 October 2020
Issue: 4763 / Categories: News

Small businesses consider accountants to be among the ‘key workers’ of the post-pandemic economic recovery according to new research. 

The study by global small business platform Xero found 43% of small business (SME) owners said their accountant has been crucial to their pandemic survival with 37% saying they helped them to retain staff during the height of the lockdown.

However while one-third of SME bosses turned to their accountant for business advice when Covid-19 struck a similar number turned to government websites and resources and 15% turned to friends or family.

VAT (37%) and payroll (30%) were two areas in which SMEs felt particularly supported by their accountants with 70% saying they felt most supported in the area of tax returns.

Gary Turner managing director of Xero said: ‘Behind every resilient small business there’s a hard-working accountant. They have played such a huge role in saving...

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