In 2025, small and mid-sized businesses (SMBs) face a rapidly evolving landscape marked by economic uncertainty, digital disruption, and tightening regulatory demands.
To survive and thrive, these businesses are leaning more heavily than ever on their most trusted advisors: their accountants.
Accountants are no longer confined to year-end filings, managing accounting software, or compliance checklists, today they are stepping into a more strategic role, guiding clients through tech adoption, financing decisions, and long-term growth planning.
Head of international compliance at Intuit.
This evolution is not just a response to client needs, but a proactive shift within the accounting profession itself.
Accountancy firms of all sizes are expanding their services, building deeper relationships, and proving their value as integral partners in business success.
Technology as a Strategic Differentiator
Digital tools are reshaping how businesses operate. Research shows that businesses that adopt technology often report higher productivity, yet, many SMBs still struggle to identify which tools are best suited to their workflows and industries.
Accounting and financial management software are among the most valuable digital tools in a businesses’ armory. But businesses need the right guidance about tech to navigate new challenges.
This is where accountants are stepping in, advising on the right platforms, helping integrate technology into daily operations, and guiding clients on how to use digital solutions to make smarter financial decisions.
Annette Pettitt, Founder and Lead Accountant at Leigh Park Accountancy explains that Tech advisory is now a core part of what they do.
“More clients are realizing they need digital tools to stay competitive and efficient but they don’t just want help choosing software. They want to know how tech can help them make smarter decisions and run smoother day-to-day. We’re focusing on cloud platforms, AI and real-time data to give clients instant visibility over their finances and compliance.”
“What surprises me is how many are still operating like it’s 2009. Even with our cloud-based clients, there’s work to be done to help them keep up. They need time-saving tools but they also need time to implement them. It’s a constant balancing act between time and money.”
Helping Clients Navigate Debt and Compliance challenges
As traditional banks shift away from long-term loans toward credit-based financing, businesses are relying more on credit cards.
For example, 27% of UK SMBs used credit cards for financing last year, a move which provides short-term flexibility at the cost of introducing increased financial risk. Resulting debts can carry a higher annual interest rate, with undisciplined usage bringing about serious consequences.
Bad debt rose by 127% last year, and businesses struggled with late payments, exacerbated by high interest rates. Research has demonstrated that when interest rates increase, banks that have already offered credit card loans are able to offer better terms to borrowers.
By offering extended lending terms and balances, dependency on credit cards increases. If not managed carefully, these can, in some circumstances, lead to unsustainable debt and reduced access to future financing.
Accountants can play a vital role in helping businesses assess their banking relationships and financing options, ensuring compliance with loan companies and evaluating deals.
In doing so, they can ensure that clients manage debt effectively and make informed decisions about when and where to borrow, helping them access the capital they need to succeed with minimal external risk.
Tailored support ensures that SMBs are aware of the dangers that credit card reliance can have on future growth and stability, and allow them to make informed decisions on their finances.
Future-Proofing Through Strategic Planning
With persistent late payments, growing debt and financial volatility, SMBs are increasingly seeking long-term financial advice. Accountants are responding by offering more forward-looking services that go beyond compliance, supporting risk management, planning and strategic growth.
This includes the rise of Virtual CFO/FD services, where businesses gain access to senior-level financial advice without the cost of hiring a full-time executive.
Annette Pettitt also commented that: “our clients want more than tax returns. They want a strategy to help them weather economic change and achieve their goals. That’s why we’ve built up our Virtual CFO/FD service, to give clients ongoing, high-level financial guidance.
Whether it’s tax planning, investment strategy or cashflow forecasting, we work closely with each business to create a plan that adapts as they grow.”
“One thing we really encourage is paying tax to HMRC monthly. Clients earn interest, and psychologically it’s a game-changer, they no longer dread tax time. That shift has transformed how we talk about cashflow and future planning.”
Small and mid-sized businesses are facing increasingly complex challenges but they’re not facing them alone. Accountants have stepped firmly into the role of strategic partner, offering insight far beyond compliance.
From tech advisory and financial planning to debt management and digital transformation, today’s practices are helping clients make smarter decisions, reduce risk and unlock long-term growth.
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