RegulationAccounting StandardsNew SME scheme unveiled by Institute

New SME scheme unveiled by Institute

SME Funding Adviser Scheme to provide financial advice from ICAEW member firms

Small businesses will be able to get ‘expert finance advice’ after the ICAEW
launched its SME
Funding Adviser Scheme
.

The ICAEW said the scheme was set up in response to a government initiative,
and aims to ensure businesses have access to a wide choice of independent
professional advisers across the UK on a whole range of business finance
options.

In 2004
the
Government and Accountants Working Group
report ‘Facilitating Finance’
recommended the introduction of a mechanism to ensure the easy identification of
specialist and experienced finance advisers, particularly for SMEs.

To date 1,900 ICAEW firms have signed up to the new scheme registering the
specialisms their practice offer.

Michael
Izza,
chief executive of the ICAEW, said: ‘I am delighted that the Institute
is the first professional body to establish this scheme. Our research shows that
accountants are the most frequently consulted source of external business advice
by businesses.’

Further reading:

HMRC announces efficiency drive to help SMEs

SMEs hurt by delays in registering for VAT

Regulators soften Sarbox for SMEs

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