Advisory Services are Important

The SME market in Australia is now estimated to be around 2.5 million businesses. Many of them aspire to "scale up" by offering new services and expanding employment opportunities as they seek out new markets both in Australia and overseas. These businesses need advice, just the same as the CEO operating a larger business needs advice. The real difference is that larger businesses employ most of the expertise that might be required in-house, whereas the vast majority of SMEs cannot afford to do this or they simply do not have enough work to keep a highly qualified motivated person fully engaged. Nevertheless, they still need this critical input from a range of experts – not just accountants – if they are going to succeed. In this new financial year, there is going to be a lot of challenges for the SME market, due to high interest rates, high inflation and the ever present threat of recession. The services that you offer to your SME clients will have a significant bearing on their survival rate in business.