KUALA LUMPUR, July 2 -- ACCA (the Association of Chartered Certified Accountants) is celebrating this year’s Micro, Small and Medium-sized Enterprises (MSME) Day by paying tribute to small businesses globally.
Small businesses have taken a massive hit due to the Covid-19 pandemic, but still have a crucial role to play in the economic recovery, whereby SMEs represent about 90 per cent of businesses and more than 50 per cent of employment worldwide.
To continue playing this essential role in creating job opportunities as well as enhancing livelihoods, small businesses rely heavily on support for access to finance, information and environments conducive to growth.
Accountants have increasingly become trusted advisers to small businesses during such turbulent times. The Covid-19 crisis has reconfirmed this vital role and has also accelerated other smaller accountancy firms to transform further.
ACCA has almost 50,000 members globally working in public practice with a majority of those working in small and medium sized practices (SMPs).
As such, it’s a core part of its strategy to ensure it uses the power of its connections to offer support, guidance and advice for accountants working as SMPs, and their SME clients.
In a statement, ACCA head of SME - Professional Insights, Aleksandra Zaronina-Kirillova said: “SMPs can help businesses develop new revenue streams, transform their business models, support growth and share best practices.
“We have also created various global, practical initiatives and resources to support the SMP community in their transformational journey that is so crucial in supporting sustainable recovery of the small business sector.
“ACCA recently launched two global initiatives: Practice Connect – an online hub with insights, resources and innovative tools to help small practitioners stay relevant in a fast-changing business landscape; and The Practice Room – is a virtual SMP community where 15 international practitioner members host a series of discussions.”
To also mark this occasion, ACCA has spoken to several hosts from Practice Room on why MSME Day is an important date in the diary for the SMP community.
ACCA is the global body for professional accountants, offering business-relevant, first-choice qualifications to people of application, ability and ambition worldwide who seek a rewarding career in accountancy, finance and management.
-- BERNAMA
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