The year of 2013 showed a reassuring improvement among the economy in the United Kingdom. In fact, the UK economy grew by almost 2% in 2013. Although a 2% increase may not look like much on paper, this increased rate is the strongest growing rate that the United Kingdom economy has seen in six years. With the improved economy, many residents and businesses located in the UK may experience an increase of financial means, allowing them to have more freedom when it comes to spending.
An increase in financial freedom necessitates an increase of responsibility and organization among finances, making accounting services not only necessary, but a valuable asset to the residents and businesses in the UK as well. Although many individuals and families can benefit tremendously from seeking professional accountancy services, in most cases, these services can be even more beneficial, and frankly more necessary for organizing and maintaining stability among the accounting and finances duties of a business.
Recent economic research focused on studying the residents of the United Kingdom, and their willingness to utilize bookkeeping and accounting services, suggests that many individuals and businesses throughout the UK may be underestimating the value of accountants and bookkeepers. Currently, 30% of adults living in the UK have never considered hiring and accountant. Larger cities located in the UK such as London, show that about 21% of adults utilize the services of an accountant. However, this statistic decreases as you study the numbers outside of London, with only 18% of adults choosing to utilize the services of an accountant in locations east of England.
The accounting and bookkeeping services is a strong industry within the United Kingdom. In fact, the UK’s accounting and auditing industry has generated an estimated £6 billion in revenue. Utilizing a professional accountant can assist individuals and businesses to maintain stable financial situations. An accountant can help both individuals and businesses with important tasks such as organizing tax information, formulating budgets, and cut out necessary expenditures to increase revenue. In some cases, smaller businesses with manageable finances, and a small number of employees may not need to hire accounting services. However, as financial factors such as sales, loans, purchases on credit, and the number of employees increase, so too does the necessity of having a trained, experienced and professional accountant to organize and maintain crucial information, increase revenues, and maintain stable financial situations. More information like this: www.coopercurtis.co.uk