Bhangra Blends is the UK’s first ready-to-drink cocktail and mocktail brand inspired by the flavours of South Asia. Arshia Bhatnagar set up the company with her best friend Danika Hossain, and the brand has resonated with South Asian consumers, particularly females, who are underrepresented in the industry.

In setting up their business, they experienced first-hand how hard it can be to access funding and support. Bhatnagar realised that she needed much more than basic financial support, such as bookkeeping and tax filing. The two founders sought an accountant who could help build the future of the business, including forecasting and decision-making.

“As early-stage founders, what we really needed was someone who could help us build the financial side of the business like cash flow, understanding our margins properly, and someone who's helping us make better decisions. We wanted someone who could guide us proactively.”

The current climate is increasing demand for advisory services

Jonathan Day, Partner at Streets, says he is seeing clients increasingly asking for advice that goes well beyond compliance and year-end reporting. “They need a far clearer understanding of their numbers and practical, forward-looking support to help them protect margins and plan with confidence.”

With businesses facing a range of issues from rising employment costs, weak demand, squeezed margins, tax and regulatory pressures and ongoing global disruption, “we are now being asked to help interpret management information, improve forecasting and support better decision making.”

Real-time data is key in troubled sectors

Clients are also becoming much more proactive, Day says. “Many businesses now expect more real-time insight from their accountants. They want support in understanding profitability, managing cash flow, stress-testing decisions and identifying where costs can be controlled before issues become more serious.”

Clients appreciate commercially focused advice geared up for flexibility and resilience. “In sectors where margins are already tight, the need for advice is even greater,” explains Day. “Businesses want accountants who can act as strategic advisors, helping them understand what is happening in the business now, what is coming next and what actions they can take to stay resilient.”

Businesses want industry-specific support

Being able to offer industry-specific insights is greatly valued by clients, such as providing benchmarking data, or targeted and well-researched advice on expenses particular to their industry. “It is so important,” says Bhatnagar. “They have to understand the brand, and they have to be on the same kind of energy, level and vibe as us. When we found our accountant, we didn't just jump straight into it. We wanted him to try the drinks, just so he really got that full picture, and he really appreciated the flavours. He loved it. We would never want to work with anyone who did not understand our niche.”

Their accountant's understanding and support were crucial, especially during challenging situations such as a VAT-related fraud incident – an increasingly common occurrence.

Having someone who they really trusted was critical, she says. “When someone fraudulently used our VAT number, it took months to resolve with HMRC. During that time, we saw how much our accountant acted as a trusted advisor and mentor, because he really stepped in, he was chasing things and advising us, which helped us stay on track. We always knew he had a lot of value, but in that situation, we really saw his impact.”

Small businesses are coming to expect advice on growth, direction, and long-term plans. “We've shared our plans, our margins, our cost structure, so his advice isn't general or generic. It's very tailored to us,” Bhatnagar says. “He’s helped us understand our unit economics, how to manage cash flow and plan investment. At the end of every month we have a little catch up, to share if anything big has happened, our goals and future planning.”