Here at ASC, we put a lot of emphasis on the fact that one of the reasons we’re so good at helping SMEs, is that we are a network of them. Every ASC Regional Director owns their own small business, which helps them understand the position of any client that comes to them.
Which brings us to our question today. Can you really help a SME if you aren’t one yourselves? We think you can, but it’s much harder to do so. There are plenty of big companies out there who promise products that can help SMEs. In everything from accounts management to financial services to tech support, there’s a huge company offering available. However, just because a big company has more resources and staff available, doesn’t mean it understands the SME world enough to succeed in it. Look at KPMG, for example – they recently folded their SME-dedicated accounting practice, despite being one of the “Big 4”!
This applies even more strongly to the finance world. A big business might have the funds to throw around, but it’s highly unlikely that they’re really going to understand how smaller businesses will be affected by their finance. There are so many different options for finance, and completely different solutions will be right for different companies. A big company might not understand the nuances of each client’s operations, and just proscribe a blanket solution. A finance company that’s a SME themselves, though, knows all about those nuances, and can find the solution that’s right for the client.
There’s a temptation to think that “bigger is better” in the finance world. But in our opinion, the easiest way to do justice to a small businesses’ needs, is to be a small business yourself.