External accountants and business advice in microbusinesses:research in a Scottish context

This study investigates the microbusinesses employing fewer than 10 people and the various sources of advice including accountants these businesses rely on. While several studies have been conducted in other countries, including the wider UK, the focus on microbusinesses remains largely unexplored in Scottish context. This research aims to shed light on the nature of the relationship between microbusinesses, accountants and other sources of support network they use to seek advice for their businesses. To gather data for this qualitative study, a total of 20 in-depth, face-to-face interviews were conducted with microbusiness owners in Scotland. The findings reveal that while some micro businesses do seek advice from accountants, the most utilised sources of advice are the business owner’s family, and other businesses. They rarely get advice from formal sources (i.e. accountants, banks, Business Gateaway, universities). The insights gained from this study can be instrumental for government and non-government agencies in designing targeted training programs on the importance of expert advice for microbusiness owners. Also, professional bodies can train accountants to build better relationships with microbusinesses to provide advice and guidance rather than statutory services only. These initiatives could empower these businesses to manage their record-keeping more effectively and could inform the development of training programs to foster stronger relationships between accountants and micro businesses.