KPMG SMALL BUSINESS ACCOUNTING and Metro Bank have confirmed an alliance which will see their accountancy and banking operations combine.
The pair claim the tie-up will provide small businesses with quick and easy access to expert advice and services, a move they say will “significantly reduce the hurdles presented by financial red tape”.
KPMG has made a great play into the SME market in recent months. In August, it confirmed an alliance with peer-to-peer business lender MarketInvoice, and in October last year invested £40m in its enterprise offering.
Under the deal, Metro Bank is available online seven-days-a-week for business owners, with access to a local lender in their community. They will also have access to KPMG’s Small Business Accounting service, which includes a dedicated KPMG accountant. As a result, KPMG and Metro Bank claim to be able to save up to 45 days a year dealing with financial bureaucracy.
KPMG head of small business accounting Bivek Sharma commented: “With over a third of decision-makers spending more than one day a week tackling admin and red tape, it is not surprising that SMEs see reducing regulation as the number one priority for government to tackle.
“Our new alliance minimises the time businesses have to spend confronting bureaucratic hurdles. Saving eight and a half hours a week; 34 hours a month; 45 days a year, we’re giving business owners time back to focus on growing their business and achieving their goals.”
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal