What is an accountant for your business in 2025?

WHAT IS AN ACCOUNTANT FOR YOUR BUSINESS IN 2025?

June 10, 2025

BACKGROUND

In today’s fast changing and increasingly digital and AI driven business environment, the expectation of and the role of accountants has changed!

Historically the accountant for an SME business managed all of the payroll, VAT and tax compliance requirements for a business owner – keeping them ‘out of jail’ and paying the RIGHT amount of tax.

Additionally, the accountant was also that ‘trusted advisor’ for the occasional business issue to be sense checked or potential risks discussed with – ahead of making a decision.

BUT in 2025 what are the expectation(s) for an Accountant to an SME to be delivering for them??

FROM NUMBER CRUNCHERS TO COACHES, ADVISORS, STRATEGISTS, AI VISIONARIES ??

Gone are the days when accountants were seen solely as valuable compliance or bookkeeping support. Although compliance has NOT reduced in volume, it has reduced in terms of the perception of its value to SME business owners.

This shift has been driven by

  1. the increasing adoption of cloud based accountancy software
  2. the marketing of this software to suggest that VAT and tax compliance, and bookkeeping is ‘easy’
  3. more business owners attempting to do more of the compliance and bookkeeping work themselves (with mixed results)

Therefore in 2025 the expectations from business owners from their accountants now include being

  • Software specialists – in terms of setting up and training clients on accountancy software (Xero and Quickbooks)
  • Digital advisors – in terms of being able to review, test, recommend and then implement apps and tools into SMEs that automate/streamline specific processes (payment runs, credit control, PO and invoice approval, cashflow forecasts, management reporting)
  • Tax planning specialists – so that they are actively identifying tax savings across the business and for remuneration purposes, while also not missing opportunities to advice on potential holding companies, family company structures, property purchases etc.
  • Financial Advisors – ensuring the business owner(s) themselves are actively considering the development of their own personal wealth as they grow their business (making pension contributions, growing their remuneration, providing for a ‘rainy day’)
  • Business Coaches – proactively discussing with business owners their own future goals, leadership styles, lifestyle and work balance, future personal development and growth etc
  • Strategic advisors – in terms of being able to understand their business, the wider business environment, assist with obtaining third party finance, developing KPIs for the business, identifying commercial opportunities, managing and mitigating risks and lead/support specific commercial projects (acquisitions, overseas growth, product launches etc.)
  • AI Visionaries – being able to discuss the growth or AI, how it will impact SME’s and advising on what steps business owners should be taking now

At the same time, the accountant is also expected to ensure that there are NO issues with the VAT, payroll or tax compliance and that bookkeeping is at the high standards it should be given the use of cloud software – WHILE also NOT being TOO expensive (as accountancy is a COST only) . . .

SO WHAT IS AN ACCOUNTANT ?

Unlike many other professions, there is no definition of what an accountant is, and no clear regulated or other boundaries to what person can be an accountant . . .

Q – Also what other profession is expected to be able to provide support to SME business owners across such a wide variety of technical, professional and commercial spheres as the list above e.g. a lawyer, a financial advisor, an engineer ?

Q – And can one professional realistically be an expert across ALL of those areas very specific areas of business activity in 2025 ?

So while it is easy to criticise accountants for their lack of XYZ, it should be noted that an accountant, CFO or bookkeeper are invariably the ‘backbone’ of every successful growing business

  • For knowing the answers to financial queries
  • For knowing where information or documentation is located
  • For being able to put a process in place
  • For being able to ‘use the software’
  • For being able to review and evaluate commercial or business queries
  • For being able to identify potential or future problems

And when was the last time you saw a successful, growing and profitable SME business that DIDN’T have a great, robust and professional finance team or CFO in place ?

FINAL THOUGHTS

As the financial needs of SMEs evolve, so too IS the role of the accountant, however it is the historical experience and background that will determine where the ‘mountain of value’ that an accountant can provide to a business owner will be found

  • great technical and tax accountants will NOT be great strategic or commercial accountants
  • great strategic, commercial and people friendly/communicative accountants will NOT be tax planning experts

And to get the advice, guidance and support needed for your SME business as it grows will require the different skillsets and NOT just one accountant or a ‘one size fits all’ approach. Additionally the ability to embrace the fact that a lot of the expertise required from your accountant is KEY to your business growth, therefore also requires a financial investment on your part as well – as important as a new marketing campaign or investment in a business asset.

Do you feel that you are missing some of the strategic or commercial advice that will add to the existing finance structure within your business? If so, then contact us to see where we can potentially unlock what you may be missing.