30 October 2014 — Publication
FEE issues these Info Packs to assist professional accountants, especially those in small and medium-size practices (SMPs) in adding value to their clients that are small and medium sized entities (SMEs). Developments in technology and regulation fundamentally change the environment in which SMPs operate. In order to flourish in the future, SMPs may thus need to look outside their established business model.
The professional relationship between SMEs and SMPs is often close and long-standing. SMPs know their clients’ businesses well, which makes them uniquely positioned to consult SMEs on a wide range of business matters. Currently only about 10% of SMEs use their accountants for business advice on their operations. However, SMPs’ advice can be crucial to better manage SME’s business, plan for the future, mitigate risks and reduce costs. This Added Value – SMP Info Pack thus aim to generate “double value”, first for the SMP practice who can then add value to their SME client.