Presentation by Paul Thompson, IFAC Deputy Director, SME & SMP Affairs at the Central and South East Europe Regional Forum for Professional Accountancy Organizations co-hosted with the World Bank in Vienna on June 1, 2012.

1. Supporting the Provision of Effective
Business Support to Small- and
Medium-sized Enterprises
Paul Thompson, Deputy Director, SME
and SMP Affairs, IFAC
PAO Regional Forum
Vienna, Austria
June 1, 2012
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2. Presentation Outline
• IFAC Research into Business Advice for SMEs
• Implications and Lessons for SMPs – No Change is Not
an Option
• How Can IFAC and PAOs Help SMPs Adapt?
• IFAC’s Initiatives
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3. IFAC Research into Business Advice for SMEs
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4. IFAC Research into Business Advice for SMEs
• Paper summarizes global evidence on role of SMPs in
providing business support/advice to SMEs
• Accountants are preferred source of advice for SMEs
• Motivation and reasons for using SMPs
– Recognition SMPs face similar compliance requirements as SMEs
– Technical competency, trust, proximity and responsiveness
– SMEs wanting a one-stop shop
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5. Implications and Lessons for SMPs – No Change
is Not an Option
• No one right solution/way
• Attracting and training talent
• Develop skills/competencies (marketing, technical)
• Embrace IT – cloud computing
• Consider specialization – type of client or service
• Merger and/or form/join referral network
(internationalization)
• Free up partner time
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6. How Can IFAC and PAOs Help SMPs Adapt?
• Position and equip SMPs for change
• Raise awareness and promote role of SMPs in providing
business advice to SMEs
• Thought leadership
• Capacity building - resources and tools
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7. IFAC’s Initiatives
• Research and polling
• Advocacy
• Resources and tools
– See http://www.ifac.org/about-ifac/small-and-medium-practices-
committee/smp-resources-and-tools
– Guide to Practice Management for Small- and Medium-Sized
Practices
– Good Practice Checklist for Small Business
– Suite of videos (how to tips)
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8. Thankyou
www.ifac.org/smp
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