Smaller Accountancy Firms vs Global Accounting Brands
When it comes to choosing an accountant, there are many factors to consider if you want to make the right choice for your business.
Accountants come in all shapes and sizes, and one of the decisions you have to make will be choosing between larger accountants and smaller, local accountants.
Here are some of the main ways in which these two types of accountancy firms compare to help you make the right decision.
All accountants charge different fees, and this is going to be one of the most important issues for you to consider. However, in general, global accounting brands can prove more expensive than SME accountants, this is therefore something to keep in mind when considering your choice between a large accountancy firm and a smaller, more local approach.
Choosing somebody to be responsible for your businesses' finances can be a daunting task. It's important to know you have an accountant, be it a small or large firm, that you can trust and being able to sit down face to face and discuss your personal needs is a huge part of that.
One of the main benefits of choosing a smaller, more local accountancy firm is that often, they may take a more personal approach to your accounts and finances.
Another factor to consider when you choose an accountant is employee turnover. Working with the same person for a long period of time means you will get to know your accountant and the team around them, building up a better relationship over time based on trust.
Having an accountant that has a wealth of specialist local knowledge can prove helpful in many situations. Not only is it physically easier to visit your accountant if they are more local to your business, but you are also more likely to build up a stronger relationship if you see them more frequently.
If you're a small business owner it's important to work with an accountant that is aware of specific local issues that may have an impact on your business, including various local regulations. At Keith Graham, we work with businesses in Hampshire and Surrey, enabling us to provide in depth knowledge about the local issues faced by our clients.
Often, smaller chartered accountants have experience in working alongside smaller businesses just like yours and are likely to be aware of the specific challenges you may face. Larger accountants usually work with slightly bigger clients who have often varying needs from small, local businesses.
When you work with local accountants, you will have a team of accountants who you are in regular contact with over the months and years. Often, global accounting brands are hired for specific tasks like financial audits. When you work with a smaller accountancy firm, you often have a team you can work with on a monthly basis.
Which Is Best for Your Business?
For a smaller business, it's nearly always best to work with a more personal accountancy firm. If you have a small business there are numerous benefits to choosing a specialist local accountant compared with a larger, global accountant, some of which are highlighted above. When it comes to making your decision, be sure to weigh up the pros and cons for your own individual situation and seek professional, trustworthy advice.
Should you decide a local accountant would benefit your business the best, we would be more than happy to discuss any of your requirements. Contact us at any time to speak to a member of our highly qualified team of accountants based in Aldershot, Surrey.