A recent report highlighted in Accountants Daily has revealed a surprising gap in how small and medium-sized businesses (SMBs) view their accountants. While most businesses value accountants for compliance and tax obligations, only a minority see their accountant as a true partner in strategy and growth.
This finding points to an important opportunity for businesses to get more from their accountants, and for accountants to demonstrate the full value they can bring.
What the Report Found
According to the research:
- Just 15% of SMBs see their accountant as a strategic advisor, someone involved in growth planning and decision-making.
- About one in three SMBs view their accountant as purely transactional, focusing only on compliance, bookkeeping, or annual tax work.
- Businesses that do see their accountant as a partner report much higher satisfaction and feel they are getting significantly more value from the relationship.
In other words, when accountants are seen as part of the bigger picture, not just a cost centre – clients believe the investment in professional advice pays off many times over.
Why It Matters for Business Owners
For SMBs, the way you work with your accountant can have a direct impact on your performance and growth. Strategic accounting support goes beyond the numbers. It helps with:
- Clarity and foresight: Understanding your financial position today and planning ahead with accurate forecasting.
- Smarter decisions: Using data to weigh opportunities, manage risks, and make informed calls about investments or growth.
- Resilience: Preparing for changing market conditions, cash-flow challenges, or regulatory shifts before they become problems.
Those who treat their accountant as a strategic partner are far more likely to enjoy these benefits than those who only use them for compliance.
Shifting from Transactional to Strategic
Your accountant can be more than a compliance provider; they can be a partner in shaping your business future. To get the most out of the relationship:
- Ask bigger questions: Don’t stop at tax returns or BAS lodgements. Ask about business structure, cash flow forecasts, or how to prepare for growth.
- Look for proactive support: An accountant who doesn’t just report on what happened last quarter, but helps shape what happens next.
- See accounting as investment, not cost: When used strategically, accounting advice often saves time, reduces risk, and drives stronger long-term returns.
Our Approach
The Accountants Daily report makes it clear: many business owners are still only using their accountant for compliance. But the businesses that involve their accountant in planning, forecasting, and decision-making are the ones seeing real value.
At Walker Hill, we believe our role should go beyond the numbers. We’re here to help you plan ahead, manage risks, and make smarter financial decisions that support long-term growth.
If you’d like to explore what a more strategic relationship with your accountant could look like, we’d be glad to start that conversation.
This article draws on findings first reported by Accountants Daily, with commentary and interpretation provided by Walker Hill.
