Why young entrepreneurs don't trust accountants
I should have spotted this
earlier: most young people do not trust accountants
as business advisers, according to research that emerged earlier this month.
Much has been written about the gradual erosion of accountants' role as the dominant preferred adviser to business. But, you could argue, they remain pre-eminent, albeit with a declining share in an increasingly fragmented market.
Now with 73%
of young people telling the Bright Ideas Trust (the
social enterprise fund set up by Apprentice winner Tim Campbell) that they
don't trust accountants, you have to wonder whether that gradual decline will
steepen. And how quickly.
It's not
as if the survey suggests disillusionment with business advice is total; it's
more that young people are looking elsewhere for help.
Local authority
business advisers were seen as offering an ‘exceptional service’. Meanwhile local
job centres was seen as ‘helpful’. If there was a crumb of comfort for
accountants it was in the fact that London Business Link (now a privatised
concern) was described as offering a ‘very poor’ service.
As you
might expect given the times we live in (and the source of the survey) reality
TV business programmes such as ‘The Apprentice,’ ‘Jamie’s Chef’ and ‘Dragon’s
Den’ are having an increasing impact. Some 58% said these had inspired them to start
their own businesses.
But it's worrying stuff. Small firms need to reinvent themselves – of course. Some are already doing so (Goodman Jones is an Accountancy Age Awards winner and a good example) but most have an awful long way to go. Answers on a virtual postcard please….



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