The Role of SMPs in Providing Business Support to SMEs: New Evidence

• A number of factors influence SMEs’ demand for advice, including both external factors, such as competition and regulation, and personal factors, such as the relationship and level of trust between the SMP and the SME owner-manager, as well as the size and nature of the entity;
• Dependent on their size, competencies, location, and appetite for risk, SMPs are continuing to increase and diversify the array of business advisory services they provide to meet SMEs’ needs;
• Despite competition from other service providers, accountants, especially SMPs, remain SMEs’ preferred advisors; and
• Due to the multitude of factors involved, client-advisor interactions between SMEs and SMPs are complex, but generally these relationships are long term and based on a solid foundation of trust and communication.

See also the full report, which is based on IFAC-commissioned research from the Bucharest University of Economic Studies and the University of Dayton. Researchers reviewed over 90 academic research papers and reports published since to update the 2010 review, The Role of SMPs in Providing Business Support to SMEs.