iscoverNew research has revealed that businesses without external accountants or bookkeepers are losing up to a week each month to financial administration.
1 in 5 SMBs spend a quarter of their time on financial admin
03 September 2025
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8 minute read
A report published by accounting tech company Dext revealed the importance that professionals in the accounting sector play as strategic advisers, “moving beyond compliance to deliver the insight, efficiency, and planning support SMEs urgently need”.
The research, Built for Bigger Things, with a nationwide sample space of 500 SMB leaders, found that almost half (48 per cent) of Australian SMBs fear closure, and 49 per cent say the current climate is causing them to question whether their dream is worth it.
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‘Going it alone‘
Chief executive of Dext, Sabby Gill, said: “Too many small businesses are going it alone, when they could be leaning on the strategic insight, data-driven decision-making and time-saving tech that accountants and bookkeepers bring to the table. It’s not only a missed opportunity, it’s a growing risk.”
Many SMB owners manage their own finances, and only half of these companies rely on artificial intelligence to automate these processes.
The figures are alarming: one in five (21 per cent) SMB owners “admit to spending between 21-40+ hours a month on financial admin, the equivalent of nearly a full working week lost to non-revenue generating tasks, and nearly a third (30 per cent) managing finances solo,” the report said.
General manager of Dext for the Asia Pacific regions, Paul Wittich, said: “SMBs need more than survival tactics. They need strategic partners who can help them plan, adapt and grow.”
“Today’s accountants and bookkeepers are ready for that role. They’ve invested in innovation, embraced automation and built the tools that SMBs desperately need. This is a moment to bridge the gap.”
Nearly one-third (27 per cent) of SMBs experienced issues with their cash flow in the last year, while 26 per cent have slow-moving growth plans.
Concerningly, the report found that 55 per cent believe they’d be better leaders without the burden of financial admin.
Forty per cent of SMB owners reported that they spend more time on finance than growing their business, and 42 per cent said they have missed business opportunities due to this lost time.
Importance of professional financial support
Over half (54 per cent) of SMB leaders said planning was “virtually impossible” in the current climate, while only a quarter regularly revisit financial plans to prepare for a recession.
“This lack of forward-looking financial strategy leaves businesses vulnerable and underscores the untapped role accountants can play as trusted advisors as well as service providers,” Dext said.
Dext discovered that most SMBs do not access professional financial support that could improve their resilience and for planning, with only 40 per cent who use an external accountant or bookkeeper.
“As this crisis unfolds, their ability to deliver smart new tech-driven insights, streamline processes and unlock long-term growth potential has never been more critical,” Gill said.
“The businesses that recognise this, and the accountants who support them, will be the ones who can rise above the noise and focus on the bigger things that drive growth and success,” he added.
“Accountants today are not just record-keepers, they’re business enablers.”
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