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Survey: Most Canadian Small Businesses Not Taking Full Advantage of Accountants

Survey: Most Canadian Small Businesses Not Taking Full Advantage of Accountant

The full advantages of accountants are not being capitalized upon by a majority of small businesses in Canada, according to the results of Sage North America's Accountant Usage Study.

The study, which included responses from 229 small businesses in Canada, noted that most of these companies do not look to accountants as a full business partner, but rather just for support on taxes and bookkeeping.

Overall, the survey found 39 percent of small businesses do not use the services of an outside accountant, with 73 percent saying this is because they want to do it on their own. Additionally, the 61 percent of firms that do use outside accountants generally rely on them for basic services only.

"Accountants offer so much more than general accounting and tax services; they can provide critical guidance that can help take a business to the next level, Jennifer Warawa, vice president of partner programs and channel sales for Sage North America, said in a release. "All businesses, big or small, need a plan and a good accountant will partner with a business to examine all the data to help build a roadmap to success."

The research follows a recent report that Canadian senior-level accountants made well over $100,000 on average last year, according to Lannick Group of Companies.