To widen its client base and to provide services to newly set-up and small companies, KPMG has invested about £40m in a new technology project.
The KPMG enterprise is a great initiative and will help in expanding the big 4 firm’s services provided to the ever increasing client base of 4.9 million private businesses from all over the UK, said the accountants.
KPMG enterprise includes KPMG’s small business accounting service, the service uses digital platform to perform online tax and accounting services such as preparing accounts, corporate tax returns, VAT and payroll records to newly set-up and small businesses through cloud.
The enterprise will also provide a chance to get advice and guidance from KPMG professionals, charges of the service is £150 per month.
Simon Collins, chairman of KPMG UK, commented: “KPMG wants to be the first choice of all private companies whether they have just started or are going through the stage of development. The enterprise gives KPMG a chance to provide their services to small-sized companies, so that smaller Businesses can also benefit from the knowledge of our experts. KPMG realizes that for the growth of the economy of the UK the growth of the SMEs is also very important, KPMG with the help of KPMG enterprise plans to support and help the small and newly set-up businesses.
“The enterprise is a result of a survey conducted by YOUGOV on KPMG’s behalf that showed that a vast majority of SMEs think that UK Government can do a lot more to help and support the small companies.
The Research found that government needs to focus on supporting the small businesses a bit more. The research also found that SMEs have Awareness of initiatives started by government for their well-fare like the Business growth fund and Funding for Lending scheme, but 71% of the SMEs did not went for these schemes. The survey found that small companies basically look forward to cut tapes being reduced or are looking for tax incentives and reliefs. Iain Moffatt, head of enterprise project, commented: SMEs want support from the government and as elections will happen next year the message to the government is clear and that is government needs to support small businesses to help them to grow and succeed.