Small business owners are navigating one of the most complex economic environments in recent memory: costs are volatile, hiring is tough, and margins are thin. In times like these, they don't just need a tax return and help with compliance – they need a strategic partner to provide the guidance that could make or break their businesses.
Accountants have become productivity powerhouses
68% of small businesses now say their accountant makes them more productive—that's a 31% increase since 2021. This isn't about faster tax preparation. Small businesses credit their accountants with guiding critical decisions around investments, expenses, and financing that directly impact their bottom line.
This shift reflects a broader truth: when economic uncertainty rises, small businesses turn to their most trusted advisors. Accountants who position themselves as strategic partners rather than transactional service providers are seeing the benefits in client retention and satisfaction.
Strategic advice creates loyalty
The research reveals a clear correlation between service mix and client loyalty. Firms offering strategic advisory services are 20% more likely to receive strong recommendations from their clients. Even more compelling: many clients indicate they're willing to pay premium rates for this type of forward-looking guidance.
The implication for firms represents a significant business opportunity. Strategic services aren't just nice-to-have offerings. They're differentiators that drive referrals and justify higher fee structures. Yet many accountants hesitate to make this shift, unsure of how to package and price advisory work.
The hidden opportunity in benefits guidance
One of the most surprising findings: one-in-three small businesses receive benefits guidance from their accountant, but many of these engagements go unbilled. This represents a significant revenue opportunity for firms already providing value but not capturing it.
Benefits advisory sits at the intersection of compliance, strategy, and employee retention—all areas where accountants bring expertise. As small businesses compete for talent in a tight labor market, guidance on structuring competitive benefits packages is increasingly valuable. Firms that formalize and price this service appropriately can turn an informal conversation into a reliable revenue stream.
AI as a strategic enabler
Perhaps the most forward-looking insight: two-thirds of small business clients are comfortable with their accountants using AI in strategic services. Rather than viewing automation as a threat, these clients see it as an enhancement and one that frees up their accountants to focus on deeper, more strategic conversations.
Small businesses aren't asking accountants to choose between technology and personal service; they want both. The firms that successfully integrate AI into their workflows for services like cash flow analysis and benefits advisory can deliver more proactive insights while maintaining the trusted advisor relationship their clients value.
What this means for your practice
These findings point to a clear opportunity: small businesses want more from their accountants and are willing to pay for it. The challenge isn't demand, it's awareness. The research shows that half of small businesses don't know what services their accountant actually offers beyond traditional accounting work.
For accounting firms, the path forward involves three key actions:
- Communicate your full service offering clearly and consistently. Don't assume clients know what you can do for them.
- Formalize and price strategic and advisory services appropriately. If you're already providing informal guidance, structure it into a service offering that reflects its value.
- Embrace technology as an enabler of better client service, not a replacement for it. Your clients are ready for you to leverage AI if it means more time for strategic conversations.
The small businesses surveyed aren't looking for cheaper accountant services, they're looking for partners who can help them navigate complexity and seize opportunities. And there's no better time than when helping your clients prepare for year-end. Accountants who step into an advisory role will find themselves not just surviving, but thriving in the years ahead.
