- Business advisors analyse problems and potential risks businesses are facing and help provide advice.
- Accountants have an opportunity to become technology advisors, as well as business advisors.
- This sector gives you the opportunity to work within accountancy firms of all sizes and across many industries.
Working in business advisory, Chartered Accountants analyse problems and potential risks businesses are facing and help provide advice to help them become more cost-effective and efficient. They are usually responsible for providing guidance to small and mid-sized businesses, and utilise the latest technology - through real time data - to help manage the client's business needs.
Many employers are encouraging accountants including business advisors to become experts in technology, otherwise they will be out of step with the market. So many business advisory roles are becoming business and technology advisors.
"If you enjoy the great game of business and have a passion for more than just accounting and want to be able to take a key part in the growth and development your clients businesses, then business advisory is for you."
Why business advisory could be the right fit for you
You'll need to have a strong understanding of the business and environment it operates in, enjoy working with new technology, solving business problems, keep up with market and societal trends and be a great communicator to create and maintain client relations.
More importantly, business advisors should be able to inform organisations on how to be successful and grow sustainably. So a keen understanding of the organisational objectives, who the customers or potential customers are and their specific needs is required to advise the company on how to meet them. The customers may be external, either business or end consumers, or they may be internal customers, improving organisational efficiency from the inside.
Working independently or as part of a larger business, business advisors are often tasked to support organisations in very tight deadlines. Being capable to deliver under pressure is a vital skill.
Who can you work for?
This sector gives you the opportunity to work within accountancy firms of all sizes. You could work for a large corporate or for a smaller specialist firm.
- Strong business and commercial awareness
- Work under tight deadlines
- Interpersonal skills
- Problem solving
- Risk management
- Ability to work with a range of stakeholders.
"Workwise accounting is changing dramatically, As software is getting better, accountants are now being able to spend more time actually dealing with the strategic side of businesses. To be in Advisory, you need to understand not only accounting, but the complexities of each job sector, as rules and strategic methods change depending on the challenges each individual sector offers."