This article is a guest post from Xero, the global small business platform.
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Small businesses represent more than 90% of all companies globally. They make up the backbone of the global economy but also shape the communities we live in.
While small businesses are used to a “do it yourself” mentality of managing all aspects of their business, embracing a “do it together” approach by partnering with an accounting or bookkeeping professional can help them add a competitive edge.
A Xero commissioned study conducted by Forrester Consulting revealed only 26% of small business owners consulted trusted advisors like accountants or bookkeepers to help maintain cash flow, make predictions and take proactive steps to help their financial situation. The findings showed that those who thrived throughout the pandemic took advantage of such opportunities.
Here are three reasons why small businesses can drive success by working alongside an accountant or bookkeeper.