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CPAs: Small business needs you NOW!

CPA Ad After yesterday's post about client retention being a top issue, I caught a post from Rick Telberg at CPA Trendlines titled, Survey: 40% of small businesses say their CPA provides little or no help. He is referencing a recent survey by George S. May International (a management consulting firm).

Say what?

The survey found that 45 percent of the respondents said that their businesses were not profitable and only 60 percent were satisfied with their accountant's help in making their businesses profitable. That's 40 percent who are not satisfied with their accountants. (The survey did not distinguish between accountant and CPA.)

The bright spot in the survey is that 45 percent of small businesses see their accountant as the primary business adviser. Attorneys and management consultants ranked 18 and 17 percent, respectively.

While most respondents cited the economy as the primary issue, Paul Rauseo, managing director of the George S. May International Company, said, “There are plenty of small businesses making money in this economy because they are taking care of the business side of the business controlling costs and increasing productivity.”

So the opportunity in this not-so-good news is to make sure your relationships are solid with your clients and make sure you are helping them to evaluate their businesses and work to make them more efficient. The economists all agree that the recovery will be led by small businesses. CPAs, take note: This is our chance to make a real difference!

What are you doing today to strengthen your relationships and improve your clients' business?