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SMEs Thrive with Empathy: ACCA Report

Updated: Jun 25, 2024 04:50:56pm
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SMEs Thrive with Empathy: ACCA Report

New Delhi, Jun 25 (KNN) In a report released on Tuesday, the Association of Chartered Certified Accountants (ACCA) emphasises the critical importance of empathy, adaptability, and human connection for small and medium-sized enterprises (SMEs) navigating the complex modern business landscape.

The report, titled "Accountants at the heart of SME resilience and growth," compiles real-world experiences from finance leaders, entrepreneurs, and business support organisations worldwide.

It showcases how accountants serve as indispensable partners to SMEs, offering not just financial expertise but also emotional support and strategic vision.

Aleksandra Zaronina-Kirillova, ACCA's Head of SME Professional Insights, stated, "In a world where SMEs face rapid change, from digital transformation to talent shortages and inflation, accountancy professionals' role as empathetic partners has never been more vital."

The report features success stories from various global contexts, including that of Oleksandr Danylenko, co-founder and de-facto CFO of Boodmo, an online automotive spare parts marketplace based in India.

Commenting on the Indian context, Sundeep Jakhar, Head of Public Affairs – India at ACCA, noted, "India has experienced a startup boom, with new-age companies attracting billions in funding.

However, accessing capital and talent remain key challenges for SMEs looking to scale." Jakhar emphasised the role of accountancy professionals in nurturing entrepreneurial ecosystems through ethics, sound governance, and interdisciplinary collaboration.

Accompanying the report is a practical toolkit offering insights on various topics relevant to SMEs.

To further support the launch, ACCA is hosting a webinar on June 27, providing a platform for discussion and engagement with experts on the strategic role of accountancy professionals in empowering SMEs.

This report underscores the evolving role of accountants as not just number-crunchers, but as trusted advisors who understand the human stories behind the businesses they serve.

In an era of rapid change and uncertainty, the ACCA's findings highlight that the combination of financial acumen and emotional intelligence may be the key to SME resilience and growth.

(KNN Bureau)

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