When selecting an accounting firm for your business, choosing the correct firm for your needs is key. The right firm will provide standard accounting services as needed and act as a strategic partner, providing proactive advice and guidance on an ongoing basis. One of the biggest questions to determine up front is whether to work with a national firm, or a regional one and the best choice will often depend on the business itself.
If your business is large, with a national presence and multiple locations across the country, then a national accounting firm might be the best fit for you. However, for most small and medium-sized businesses, there are several advantages to choosing a regional firm over one of the ‘Big 4’.
What Businesses Should Look for in an Accounting Partner
The natural assumption might be that national firms will be able to offer a broader variety of services and that regional firms, being smaller, wouldn’t have the resources to compete. However, this is simply untrue. In most cases, regional firms offer the same services as their larger counterparts, with the added benefit of having an in-depth understanding of the business needs of their local community.
Consider the major factors that most businesses search for when looking for an accounting firm:
- Service(s) and expertise offered
- The competitive advantage offered by a specific accounting firm
- The ability to develop a trustworthy working relationship
Below, we will discuss the advantages of a regional firm point by point.
Service and Experience
While large national firms often have multiple divisions specializing in niche accounting concerns, the same often applies to smaller firms. For example, at McCay Duff LLP, we offer a team with a diverse range of experience and specializations, ensuring that we can meet our clients’ needs in-house. Whether you require agile business advisory, valuation experience or straightforward and informed tax and accounting advice, we’ve got you covered.
Competitive Advantages of a Regional Accounting Firm
Another important factor to consider is the competitive advantage offered by a local firm over a national chain. First and foremost, a local firm has a detailed understanding of the local business community and their specific needs and challenges. McCay Duff LLP has been a fixture in the Ottawa community since 1954 and we have established ourselves as a reliable and trustworthy partner to the business community ever since. Further, we offer in-depth experience in specific areas, including working with non-profit organizations, medical practitioners and real estate professionals.
Personalized Service Over Time
The importance of developing a strong and trustworthy working relationship with your accounting firm cannot be overstated. Business owners need to know that they can trust their advisors to be well-informed on changes that could impact their operations, and that they have a solid understanding of each client’s needs and goals. Further, accessibility is a must. You want to know that if you pick up the phone or send an email, someone will be on the other side, ready to assist. At McCay Duff LLP, our relationships with each of our clients is a paramount concern. We make it a point to treat each client relationship as a partnership. Our clients are not simply numbers and files; we work hard to earn and keep their trust.
In addition to the three factors above, the internal workings of a firm also have a significant impact on the firm’s clients. A firm with overworked and underappreciated employees will not provide optimal service to its clients. We prioritize a strong community culture at McCay Duff LLP, so that each member of our team is able to provide optimal service. We believe an engaged team is most productive, and so we offer ongoing mentoring and learning opportunities to help our employees grow their expertise and continually challenge themselves. We further ensure that our team is compensated fairly and emphasize a good work/life balance.
Contact McCay Duff LLP in Ottawa to Discuss Your Business Accounting Needs
If you are a business owner looking for an accounting firm to help guide and advise your business, the tax and accounting professionals at McCay Duff LLP can help. Our team has been operating in the Ottawa area for 75 years, and our ties to the local community run deep. We pride ourselves on providing personalized, proactive advisory and accounting services that help our business clients thrive in a competitive environment.
The team of financial specialists at McCay Duff LLP in Ottawa partners with a variety of business clients, from sole practitioners to large organizations. We will provide strategic advice and ensure your business remains compliant so you can focus on growing your business. To learn more about how we can assist you, please contact us online or by telephone at 613-236-2367 or toll-free at 1-800-267-6551.