BusinessCompany NewsAccountants important for SME scheme

Accountants important for SME scheme

The ICAEW says chartered accountants can play an important role in shaping future investment support schemes available to SMEs.

The Institute’s comments come as the Small Business Service announced it was taking bids for pilot programmes to identify a best practice system for helping businesses become ‘investment ready’ – following publication of the ‘Investment Readiness: helping enterprises access equity finance for growth’ consultation paper.

Michael Groom, president of the ICAEW, said chartered accountants had the skills and first-hand experience to add real value to the project.

‘They will play a key role in shaping future investment support available to small businesses,’ he added.

Clive Lewis, head of the Institute’s Small and Medium Enterprise Unit, said: ‘We support pilot programmes and welcome this step towards providing SMEs with accessible investment advice.’

Lewis said the ICAEW was interested in seeing a model that addressed investment needs and potential on an industry-specific basis.

Professional advisers, finance providers and local business support networks are expected to form partnerships and make bids as ‘Demonstration Projects’, which will be financed from the Enterprise Fund.

Five or six demonstration projects will be supported by the SBS and will educate entrepreneurs and SMEs on the financing options available to them, and help them develop business proposals to present to possible investors.

Links

ICAEW pushes enterprise in Wales

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor