How Many Businesses Use Accounting Services?

Accounting services

It’s important for businesses to define their target market. The case is no different for accountants, who will want to know how many businesses are actually out there using accounting services.

In this post, we’ll shine a light on your potential customers and what they’re looking for in an accountancy firm.

Most businesses use an accountant

When it comes to accounting statistics, there’s no place better than the Institute of Chartered Accountants in England in Wales. Their 2014 research on small to medium enterprises (SMEs) found that the vast majority of businesses with up to 250 employees use an accountant.

Three quarters of businesses had used an external accountant in the year leading up to the study, which increased to around 80% among companies who said they were hoping to expand.

What are they looking for?

According to the same research, the most popular accounting services were accounts preparation and tax services, which were used by 65% and 62% of businesses respectively. That was followed by bookkeeping (32%), auditing (28%) and business advice (25%).

The problem? All accountants offer these services in some capacity. Nowadays, accountants need to stand out from the pack with more efficiency and better results for their clients.

Could the cloud help?

Utilising the cloud has become increasingly popular for accountants, who want to improve flexibility, productivity and security. In fact, a 2018 survey by Tech Radar found that cloud software improved collaboration and customer loyalty for accountants.

Don’t be left behind

There’s clearly plenty of businesses out there in need of your accounting expertise. But it’s up to you to provide the fast, modern service they’ve come to expect. At Green Cloud Hosting, we provide tailored hosted desktop solutions for accountants across the UK.

If you want to work faster and more efficiently for your clients, get in touch with us today on 0161 979 0691 or email info@greencloudhosting.co.uk.

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