Establishing how to survive the recession, has been pretty much top of every business owners agenda for some time now. A crucial part of that is deciding how and where to cut costs, within an organisation.

As current state of the job seeker marker indicates – many companies have looked to cutting staff as a means of keeping costs down. However a recent survey of the quickest growing businesses on the UK suggests that culling staff maybe a short-sighted, and potentially dangerous, strategy.

According to a survey by Wright Collins, of all the successful companies asked, each one stated the number one factor that gave them a competitive edge was their employees.

This was in stark contrast with issues such as branding, marketing and lower process point all of which made the list but weren’t thought to be anywhere near as important as having the right team.

According to Mark Williams, CEO of a pharmaceutical firm involved in the survey; “You team I the most important aspect of your business.”

As we are all aware, pre-recessionary Britain was a very different place, not only in business, but across the whole spectrum of society.

Education was collectively perceived to be the best route to career success and economic security. From an early age, students were encouraged to work hard at school, get to university, graduate and look for a ‘good job’ in a professional sector. However, when Britain was catapulted into economic turmoil and the financial services sector collapsed, many recent graduates now face a hostile job market and have been forced to re-assess their future.

As a consequence of the economic situation, the concept of a ‘job for life’ has been well and truly turned on its head. Now, many graduates are turning their backs on the working for themselves and are instead considering the different career path of becoming their own boss.

A recent report by Barclays Local Business, has suggested that the economic situation has led to a rise in entrepreneurial spirit among today’s youth, with some students neglecting to go into higher education and choosing the entrepreneurial route instead

Here at Companies Made Simple, we see the rise in company formation figures in the last quarter, as an encouraging sign that the recession is in the early stages of recovery. However, a recent poll of leading entrepreneurs and business owners reveals that overall opinion in the SME sector is well and truly divided.

The research we are referring to was conducted by Deloitte – an international accountancy and financial consultancy firm – as a result of the report by the British Chamber of Commerce survey, which concluded that, despite a decline in industrial output, business activity across all regions in the UK have reported growth in the last quarter.

The findings of the report suggest that while over 30% of entrepreneurs feel that the worst effects of the recession are over, a further 30% feel that we still have quite away to go before we can conclude that the recession is over.

The demands of the recession have undoubtedly presented many challenges for the SME sector and it appears that the firms that will emerge stronger are those that employ effective cash flow management and continue to listen and support their employees.

Historically, company formation was completed by an accountant, now most people wanting to start their own company choose to complete the company formation process online, which is a much quicker and cheaper process. However, the tax and financial implications of forming your own company are vast and therefore most businesses, from sole traders to limited company owners, choose to employ and accountant. But how do you find the right one for your business?

One of the best ways to find an accountant is through the recommendation of business contacts and associates. Also, enquire at local business networking events for accountants that are based locally.

It is important that you find an accountant that is right for your business needs. While most companies have an accountant, the role they play in each business is individual. Before meeting with your prospective accountant for the first time, it is important that you have a clear understanding of what you want them to do and what you feel can be handled in house.

An accountant can play a pivotal role in the future growth of your company, so it is important you find the right one.