Businesses to save up to 45 days a year as a result of new alliance.
With over a third of small businesses spending more than one day every week tackling financial admin, KPMG Small Business Accounting and Metro Bank have joined forces with an alliance that will combine their accountancy and banking offerings.
With Metro Bank, business owners can set up a Business Bank Account seven days a week, in an average of 51 minutes, whilst also benefitting from access to a local lender in their community. Combined with Metro Bank’s commitment to service and convenience is KPMG Small Business Accounting’s service, which provides unlimited access to a dedicated KPMG accountant. As a result of this new alliance, businesses can therefore free up valuable time otherwise spent on admin – saving up to 45 days a year dealing with financial bureaucracy, twice the average holiday allowance.
Bivek Sharma, Head of Small Business Accounting at KPMG, 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.”
Craig Donaldson, CEO of Metro Bank, commented: “As the entrepreneur’s bank, we’re always exploring new ways in which we can help empower businesses to achieve their potential, by making it faster and simpler for them to grow.
“We understand that many businesses are time-poor, so we’ve worked hard to make banking as convenient as possible, whilst providing unparalleled levels of service that they can rely on. With so many SMEs currently underserved and mistreated by their banks, we’re proud to truly focus on them - designing our services around their needs. Our alliance with KPMG Small Business Accounting is an exciting move for Metro Bank and one which will have tangible benefits for many small businesses.”
James Roy Poulter, owner of Pronto, a new food delivery service in London, and an existing Metro Bank and KPMG Small Business Accounting customer, commented: “When I first set up Pronto, Metro Bank offered the only service able to move fast enough for us – I had a business account on the same day I walked into the store. As a Chartered Accountant myself I'm capable of looking after my finances, but KPMG's Small Business Accounting service takes away the hassle of the admin and I know my business is safe in the hands of a credible firm offering a service that is both efficient and thorough. With both teams on my side, I have the time to concentrate on growing my business.”
The partnership builds on both KPMG Small Business Accounting’s and Metro Bank’s existing partnership with Xero.
Notes to Editors:
For more information on this story, please contact:
Ella Sykes, Laura Coyne or Louise Watson-Dowell at Manifest Communications
T: +44 (0)11 3242 9174
KPMG Press office: 020 7694 8773
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
About Metro Bank
Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. ‘Metrobank’ is the registered trade mark of Metro Bank PLC.
We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme.
For further information about the Scheme refer to the FSCS website www.fscs.org.uk.
All Metro Bank products are subject to status and approval.
Metro Bank PLC is an independent UK bank - it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.
 KPMG Small Business Survey (9 hours)
 Based on Metro Bank Business Accounts opened between 26 June and 7 August 2015
 Based on a maximum of 30 minutes spent on financial admin per week when using KPMG’s Small Business Accounting services