Accountants have always played a key role in helping businesses weather uncertainty.
Today, their counsel is more critical than ever. According to the latest Intuit QuickBooks Small Business Index Annual Report, businesses are under serious financial pressure, with hiring falling to its lowest level since 2015 and debt burdens growing due to increased reliance on credit cards. In addition, the report shows that small business revenue has decreased for the third straight year.
While the numbers are stark, they align with what many accountants are already hearing from clients: they feel the strain and are looking for guidance on how to stay on track. As trusted advisors, accountants are well-positioned to help. Here are a few key areas to prioritize when helping clients prevent a decline in business and instead plan for growth in 2025 and beyond.
Guide digital adoption and AI integration.
Businesses that adopted digital tools early have shown stronger performance and greater confidence in future growth. According to the QuickBooks report, companies using accounting software, cash flow management applications, and e-commerce platforms outpaced their peers in productivity and revenue gains.
AI-powered financial tools can build on that foundation by analyzing real-time data to generate more accurate forecasts, surface cash flow red flags sooner, and automate reporting. This gives business owners the peace of mind they need in uncertain times, allowing them to make faster decisions, manage costs more effectively, and plan with greater confidence.
With nearly half (46%) of survey respondents indicating AI has been a valuable tool for enhancing productivity and efficiency, understanding the technology clients are using should be a priority for accountants. New AI technology, like Agentic AI or AI Agents, are starting to take shape and have a huge time-saving impact with the automation of workflows. Evaluating, experimenting, and testing AI tools that reduce manual work, automate and deliver real-time data insights that lead to impactful growth strategies and advice can take your firm farther and faster alongside your clients who are also embracing AI.
Review banking relationships with a strategic lens.
The banks clients use matters more than it used to. Some banks are reducing their term loan offerings and focusing on credit card products instead. That has ripple effects on how business owners access and repay capital.
This is an area where accountants can lead the conversation as trusted advisors. By bringing a sharper lens to their clients’ banking relationships, they can help uncover whether their banking partner is enabling growth or quietly creating constraints. If credit is limited or rates are climbing, it may be time to explore better-aligned institutions. While switching banks is rarely straightforward, the long-term payoff can be greater access to capital and more control over cash management.
Monitor debt use and offer financing alternatives.
More than half of US small businesses (55%) report using credit cards for over 25% of their monthly expenses. This trend picked up after the pandemic and has become more costly as interest rates have climbed. The average business saw a $50 increase in monthly interest payments over ten months - funds that could been used to support other valuable initiatives, like marketing campaigns, purchasing more inventory, and training opportunities for employees.
Accountants can play a crucial role here by walking through financing strategies and helping business owners take a closer look at how their debt is structured. That might mean building repayment forecasts or identifying more affordable borrowing options. For clients carrying long-term risk from credit card dependency, reviewing their statements line by line can uncover hidden expenses or patterns they may have missed. These conversations can be the first step in preventing bigger financial issues down the road.
Focus on payroll advisory to support smarter staffing decisions.
Between October 2023 and October 2024, small business employment in the US experienced its sharpest year-over-year decline since 2015. Despite this, many businesses are still hiring, often fueled by short-term financing or seasonal needs rather than long-term plans.
Now is a timely opportunity for accountants to expand their role in payroll and workforce planning. As clients scale up or down, they need support in modeling sustainable staffing levels, forecasting labor costs, and navigating tax implications. Every business has different capabilities when it comes to managing payroll in-house. Not all owners are equipped to handle the complexity of tax filings, wage calculations, or compliance requirements. Accountants can help assess which tasks a client can manage on their own and where outside support might be needed. Helping clients choose the right approach can reduce the risk of payroll mistakes and spare them the hassle of course-correcting later.
Accountants know their clients best and have earned their trust. They know what keeps their clients up at night, what their business goals are, and where they can use more clarity and direction on how to achieve their goals. Each year brings new challenges and opportunities for businesses, yet accountants always meet the moment and guide their clients forward with confidence.
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Content furnished by Intuit. Headline graphic adapted from Intuit Media Source content made available via the Firm of the Future blog.
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