INSIGHTS

Accountants at the heart of SA Economic Revival

Research has recently revealed just how essential the accounting services industry has been for economic revival in South Africa. Accountants have significantly helped businesses to keep their doors open and employees retained in the last year.

More than half of small businesses in South Africa have attributed their survival during COVID-19 to the work of their accountant. Here’s what small business had to say:

Around 40% of small businesses said that working alongside their accountant allowed them to keep their employees on payroll.
A large majority of businesses admitted that they would rather trust their accountant’s advice for decision making than the information from government and other official sources.

Given the above, it is hardly surprising that 86% of small businesses have stated that they would support a call on government to recognise accountants as essential workers in economic revival.

Small businesses across South Africa have shared heart-warming stories of just how truly essential accountants were for their business. Adam Young, the owner of ROWDY, admitted that the assistance of their accountant allowed him to truly focus on running his business without having to worry about the numbers.

Milton Segal, a senior executive at SAICA, has highlighted the exceptional skills that outsourced accountants bring to small businesses for the successful running of payroll, and organizing of tax and VAT related matters. He also pointed out that they have not only assisted with keeping businesses afloat but have also supported broader short and long term business goals.

As a firm that holds a passion for providing our clients with innovative accounting services, we understand the importance of small businesses for our economic revival. We offer businesses comprehensive outsourced accounting services at affordable prices to help them keep their financial matters in order.

At MMS Cloud Accounting we focus on three guiding principles in everything we do to deliver high-quality services. This includes connecting with our clients and maintaining positive relationships, understanding our client’s industry-specific needs and finding innovative ways to solve any problems we encounter. If you require expert outsourced accounting services, get in touch with us here.