ACCA UK has been working with members to build a post-pandemic economy that is fairer and more supportive of SMEs.
A key part of this has been the creation of a policy group to ensure that our network of members and connections with government are used to maximum effect, and to ensure that this is embedded within the arsenal of available business support.
For example, the group has been representing the interests of members working in the small and micro business sector who are struggling to survive in the pandemic in a number of ways. This includes:
- feeding in to government policy to support SME recovery, including calling on the government to issue a second round of Bounce Back Loans
- meeting with shadow business secretary (and ACCA member) Sarah Olney MP and the campaign group Forgotten Ltd to discuss support for owner-managed businesses, and raising the issue of dividend income support for the three million owner-managed businesses with Paul Scully MP, the minister for small business
- working directly with practitioners to develop a support package recommendation that can be checked and assured by professional accountants
- collecting member views on the scope of the Small Business Commissioner, including encouraging participation in the Prompt Payment Code.
Talking point
In addition, in October ACCA launched the Big Conversation, which challenges members to think about the purpose of the professional and how accountants can act as a cornerstone for change. Members are encouraged to download the Big Conversation guide to help plan for making commitments to address key ethical and sustainability challenges.
As governments all over the world draw up plans for recovery and renewed industrial strategies, there is a strong case for collaboration between ACCA and members to take the initiative and lead that change.
ACCA’s role as a safeguard of the standards upheld by the profession and an intermediary to government opens up new opportunities to influence policy.
