UK businesses are dealing with a lot right now (and further afield, too).

The cost of energy and fuel as wars continue in Ukraine and the Middle East; the rises in business rates, NI and the minimum wage; political uncertainty as the Prime Minister changes yet again; regulatory changes such as MTD and Companies House; the list goes on.

We seem to be living in a state of permanent change.

And when the business landscape feels unstable, business owners are reluctant to make decisions. So growth and innovation suffer.

As an accountant, how can you support them?

Here’s how:

Be there for your clients

Accountants repeatedly rank among the most trusted professionals in the world. Your clients’ relationship with you can offer them a point of calm in an otherwise turbulent environment.

But you need to show them that (a) you care and (b) you can help.

Check in with them regularly, not just at year-end. Find out what’s giving them sleepless nights. Is it late payments? Is it getting more customers? Is it profit margins? You might need to dig deeper than you usually do in your conversations, but it’s worth it.

Running a business can be lonely and owners don’t always want to share their worries with their family and friends. Just talking to someone – ie you – is helpful in itself. And scheduling regular meetings means there’s a date in the diary when they know they’ll be able to offload.

(By the way, I recommend you charge for these meetings but it’s up to you how much. You could adjust the fee for clients who are really struggling.)

Show them their numbers

Give them data that helps them make the right decisions for their business. Data that shows them where they are now and where they could go in future, not data that just shows them where they’ve been in the past.

Cashflow forecasts; break-even analysis; ‘what if’ modelling so they can see the likely impact before committing to an action plan – all of these provide really valuable information.

Most business owners are too busy to look at these kinds of reports while they’re working in the business. Stepping away for an hour or two for a meeting with you gives them headspace to really understand their situation.

Once you have a solid grasp of the big picture, look at where there’s room for manoeuvre.

Could any of their costs be adjusted?

Can they change their pricing (particularly if they’re currently absorbing rising costs instead of passing them on)?

Rejigging payment terms, debtor days and/or stock levels could give them some quick wins. Are any of those possible?

Be their accountability partner

Make sure that your meetings aren’t all talk and no action.

Agree what the next steps are for your client and, importantly, set a deadline for completing them. Even if it’s just one tiny action, that’s progress. The psychological impact of feeling that they’re doing something is as important as the practical benefits.

If your client asks you to do further work, be clear about how long it will take you and the fee you’ll charge.

Set the date for your next meeting so your client knows you’re there to keep them on track.

Does this feel out of your comfort zone?

Your skills with numbers are hugely valuable to any business owner who’s struggling. So don’t fall into the trap of thinking ‘I can’t do that; I’m just an accountant’.

You can interpret the numbers for your clients in a way that no one else can. You can see the patterns that affect the success (or not) of their business. And I know from talking to thousands of accountants over the years that the primary motivation for practically every one of them is to help their clients.

So pick up the phone and speak to your clients now. They – and you – will be glad you did.

In this Profit Improvement Certification Workshop we teach accountants a structured framework for these kinds of conversations, so it feels like a natural extension of what you’re already doing.

Shane Lukas: AVN – The Accountant’s Network