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IFAs urged to link with accountants to boost business

IFAs could boost their turnover by filling in gaps left by accountants, according to research by small business advice portal Clearlybusiness.

The research shows that three-quarters of small businesses use accountants and, of those, 88 per cent use them for their annual accounts and 72 per cent for help with income and corporation tax returns.

But only 31 per cent of small businesses are using their accountants for investment and tax advice despite a significant proportion of small businessowners saying they would like more help in these areas.

Respondents said they wanted more help with advice on how to sell their businesses or secure additional funding, an opportunity for IFAs, says Clearlybusiness.

Director Markus Clavin says: “The findings could be a real boost for IFAs&#39 businesses as accountants fail to meet the demands of their clients for investment, tax and funding advice.

By forging links with local accountants, IFAs could fill these gaps or alternatively work harder to make small businesses aware of the full extent of their services.

“IFAs have the opportunity to play a much bigger and more constructive role in their customers&#39 businesses. By acting now, they can ensure that they are leading the pack rather than being left behind.”

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