South: Thousands of businesses benefit from free ICAEW service

Thousands of small and medium businesses (SMEs) across the country have benefited from free expert advice as part of an initiative by ICAEW.

Nearly 4,000 accountancy practices are taking part in the scheme offering business advice with over 100 inquiries a week from budding entrepreneurs to more established local businesses.

Just over 1,000 days ago the ICAEW launched the Business Advice Service (BAS), providing SMEs with free initial consultations from chartered accountants across a variety of issues. The no-obligation service has provided companies in the UK with the support and expertise of an ICAEW Chartered Accountant.

During this time the top issues from small businesses have been:

1. Setting up a business
2. How to structure a business
3. Getting finance
4. Real Time Information (RTI)
5. Buying and selling a business

The scheme has had the support of government and business organisations including the Federation of Small Businesses, the British Chambers of Commerce, and UK Trade & Investment, and advises and guides businesses across all areas, whether they are starting up on their own, or looking to trade the world and export overseas.

Commenting on the success of the service, Nigel Hastilow, director of enterprise at ICAEW, said: “As the economy slowly improves, now more than ever firms need that extra advice and support to help them expand, diversify, export, or solve issues at home. For the last 1,000 days BAS has helped develop thousands of businesses, boosting the local economy and providing the private-sector-led recovery the government has called for.

“ICAEW Chartered Accountants are available to offer expert advice on a range of issues – more so than some businesses realise. Help is at hand and the success of the BAS demonstrates its value as a go-to source of information for companies across the country.”

BAS was launched in September 2011 to help small companies and start-ups with business and financial advice to help economic growth. It has so far received an average of 143 enquiries per week.