Industry is bullish about growth, but uncertain about the impact of legislation

Manchester – 25th February 2010: The economic uncertainty of the past 18 months has led to accountants becoming the most trusted source of business advice for UK firms. Trust in banks, management consultants, solicitors and information on the Internet has plummeted since 2008, according to the latest Pulse survey from business software and services provider Sage (UK) Limited.

“In these difficult times, businesses need information from objective, reliable and trusted parties,” commented Managing Director of Sage’s Accountants’ Division, Jayne Archbold. “The fact that accountants have emerged as the most trusted advisor underlines the value they bring to UK firms

While more than a third (38%) of SMEs indicated that their accountant is the first port of call for business advice, an increase of 6% from the previous study, the number of firms trusting the advice of Management Consultants, Solicitors and Banks fell from 22%, 18% and 24% in 2008 to 9%, 2% and 4% respectively in 2010.

“There is a certain level of scepticism about the benefits that new legislation and regulation has brought accountants, particularly around online filing,” continues Archbold. “I expect these perceptions will change with experience and as accountants are provided more time to focus on strategic activities for their clients.”

Note to editors:
The 2010 Sage Pulse survey was conducted by Redshift Research. The research was conducted amongst 321 accountants in practice and 325 decision makers at small businesses between December 2009 and January 2010.

About Sage (UK) Limited
Sage (UK) Limited is a subsidiary of The Sage Group plc, a leading global supplier of business management software solutions and related products and services, principally for small to medium-sized enterprises. In the UK, Sage provides software and services to more than 780,000 businesses ranging from start-ups to large companies. This software ranges from accounts and ERP, HR and payroll, forecasting and business intelligence to customer relationship management, e-business and help for start-ups. Services include Excel Support, HR Advice, Health and Safety Advice and training courses.

Sage (UK) Accountants’ Division provides accounts production, taxation and practive management software to over 14,000 accountant customers. The Sage Accountants’ Club, with 9,500 members, is the UK’s largest community of accountants in practice.

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