Business

You Should Let a Local Accountant Handle Your Small Business Accounts

Published by Lily James on January 17, 2025

Letting a dedicated firm of accountants handle the company’s financial records frees up time and attention to focus on the things that drive sales and growth. While there are some large players in the accounting field who might be able to offer great prices, local firms can often be more advantageous for small businesses. This short guide explains why.

1. Personalised service

Smaller local accounting firms have more time to really pay attention to your business’s needs and goals, and fewer clients means that they are more incentivised to do so than larger firms. Moreover, experienced accountants often have valuable knowledge to impart and can provide helpful advice when it comes to topics such as financial management, compliance, and tax affairs. Local firms are often happy to share this and help your business succeed because they want clients to trust them and stick with them for the long run. Unlike the big players, they might not have a new client to immediately take on if you leave them.

2. Supporting the local economy

It is commonly said that a rising tide lifts all boats, and that is a saying that applies well in business. A growing economy tends to be good news for all, so if you are a small business operating in Campbelltown, Australia, then using accountants in Campbelltown rather than elsewhere could indirectly be helping you by boosting the local economy. In fact, staying local can help your business more directly too. Your accountant might have a valuable network of local professionals and services that can help your business.

3. Accessibility

While you can generally trust any qualified accounting firm to do the job in an accurate and timely manner, it is always nice to know that somebody will be available to talk to on short notice when you have questions or urgent issues. While larger firms might promise this and guarantee that someone will call you back within a particular time frame, it is still much easier to have somewhere where you can go and speak to someone face-to-face.

4. Better knowledge of local regulations

There may be tax incentives and deductions for small businesses in your area that you could take advantage of, but these are often not well advertised and can end up being overlooked by the big national accounting firms. Local accountants tend to have a better understanding of local regulations and what the local authorities are offering that could help your business.

5. Industry-specific advice

Many local accountants end up serving a lot of clients from particular local industries. For example, you might find that lots of local restaurants all use one particular firm. What this does is gives the accountants a lot of insight about local trends and how consumers typically behave in the area. They can then use this to advise clients like you.

Conclusion

Any qualified firm of accountants should be able to manage your company’s financial records well enough, but the service at larger firms can often seem impersonal as they are less incentivised to keep you as a client and see your business grow. Smaller firms tend to be knowledgeable about the local business landscape and are better able to advise small businesses and help them succeed.