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Enhancing SME Support: Strategies for SMPs

Discover how small and medium practices can better assist SMEs, the most trusted advisors, by upgrading skills and focusing expertise, with insights on pricing, client acquisition, and forming strategic alliances. Learn key success factors and lifecycle economics essential for supporting SMEs effectively.

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Enhancing SME Support: Strategies for SMPs

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  1. IFAC Small and Medium Practices Forum 2009 - Role of SMPs in providing business support to SMEs Mr. Paul MP Chan Beijing, China . October 28, 2009 Audit | Tax | Advisory

  2. Supporting SMEs By Market Demand and By Necessity • SMEs – Worldwide, all Governments help SMEs because of Employment & Politically Popularity • SMP’s Capacity constraint in serving large companies

  3. Supporting SMEs Ranked the most trusted advisers to SMEs, not just on accounting and business matters, but also on a variety of issues

  4. Supporting SMEs Own skills need to be upgraded to meet market demand e.g. Software Packages make book-keeping services almost obsolete

  5. Supporting SMEs Focus your market segment/choose your expertise; e.g. Risk Consulting IPO Consulting Obtaining finance Investment advisory Insolvency

  6. Uniqueness &Pioneering concepts Experience & Knowledge General knowledge Skill level requirement Experience +Trust Volume +Management Talent + Brand Critical Success Factors Practice Economics - Life Cycle of Professional Services Source: Adapted from Professor David Maister's book Rocket Science Margin Grey Hair Procedures & Practices Time

  7. Supporting SMEs Formation of Strategic Alliances, and what else?

  8. Supporting SMEs Pricing Differential Pricing Value Pricing

  9. Finding New Clients Situation of 2 Professional Firms: Firm A

  10. Finding New Clients (Cont’d) Situation of 2 Professional Firms: Firm B

  11. Marketing Over 70% of new businesses are from existing clients Don’t overlook opportunities in existing clients while chasing new clients

  12. Thank You ! Contact Information: Tel: (852) 2165 7887 Fax: (852) 2881 8766 Email: paul.chan@chhkcpa.com Website: www.chhkcpa.com www.paulmpchan.org

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