In the past year (2013), the economy in the United Kingdom grew by an estimated 1.9 percent. Although a 1.9 percent 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 of the United Kingdom may experience an increase of financial means, allowing them to have more freedom to spend with their income.
With more financial freedom comes more responsibility, making accounting services not only necessary, but extremely valuable as well. The same is true for business accounting, too. In fact, seeking professional accountancy services, in most cases, is even be more necessary for organizing and maintaining stability among a business’ accounting and finances.
Recent economic research studied residents of the United Kingdom utilize bookkeeping and accounting services, and the statistics suggests that many individuals throughout the UK may be underestimating the value of accountants and bookkeepers. Currently, 30% of adults int he UK have never considered hiring and accountant. Larger cities in England such as London, show that about 21 percent of adults utilize the services of an accountant. However, this statistic decreases as you study the numbers outside of London, with only 18 percent of adults estimated to utilize the services of an accountant in locations east of England.
Utilizing a professional accountant will help individuals and businesses to provide stable financial situations. An accountant can help both individuals and businesses to organize their taxes, formulate budgets, and cut out necessary expenditures to increase revenue. Obviously, some 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 increases, so too does the necessity of having a trained, experienced and professional accountant to organize and maintain stable finances.
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