The pandemic has been a worrying prospect not just for many UK SMEs concerned but for the wider economy as well. A rise in vaccination numbers, easing restrictions and the extended support from the UK government lead to a faster economic growth in recent months than was anticipated last year. However, the UK economy remains short of the levels it was on prior to Covid-19.
During this time, many businesses in the UK struggled to find adequate, timely and professional support from their accountants. 8 out of 10 UK businesses have availed some form or another financial measure as a response to the pandemic. Be it furloughing staff or availing government-backed loans, accountants have played a crucial role in helping businesses find the most effective solutions.
Tushar Shah is the founder and CEO of 3ES Accountants Ltd, a chartered certified accounting firm comprised of qualified accountants dedicated to help entrepreneurs realize their bigger financial goals. Working with large businesses to individuals who operate as sole traders, Tushar has found that each client has very similar goals in mind.
“By their very nature, business owners love efficient and economical remedies. The more effective a system, the more appealing it is. Combine this with consistent quality advice and services; the benefits are more than one. 3ES Accountants has been founded around the same idea – deliver adequate, timely and professional accounting support that fits the needs of the clients.”
Following the pandemic, many businesses have started to accept the essential role cloud accounting software plays in achieving business resilience.
Dishant Desai is the managing partner and Operations Director at 3ES Accountants Ltd. He is also a huge believer in the power of digital accountancy. By using the world’s leading softwares like Xero, QuickBooks, FreeAgent and DEXT, an accounting firm can guarantee quality and compliance, while offering a real time flow of information.
“HMRC, Companies House, business owners and investors all emphasize on the need for accurate financial data. All clients big or small, can benefit from real time financial data. If you want your business to work smarter and faster, cloud accounting software is an ideal investment. Cloud-based software offers the same functionality and dependability of a tried and tested desktop accounting system, with a bundle of additional. At 3ES we constantly enhance our knowledge of cloud accounting software, as it forms the foundation of modern accounting, tax management and advisory.”
As a business owner, knowing that specific tasks are being managed by a skilled professional, one can attain complete peace of mind. So, they can invest more of their time into other areas crucial areas of business improvement.
“A dip in sales due to imposed restrictions and lockdowns is a factor that effected business of all types. Having a team of professionals allows business owners to focus their attention to pursue strategies to increase business by adopting new methods.”
As businesses across the UK tighten their belts for what the future holds, the key is to find a sustainable solution rather than saving a pound here or there. Whilst spending less will cut costs in the short term, having a qualified professional accountant would guarantee a strong return on your investment in the long run.
