Metro Bank and KPMG have joined forces to deliver a service to small business owners that reduces their administrative burden by more than 90%. By opening a Business Bank Account at the bank, small business will have access to a dedicated KPMG accountant to do the books.
The time spent on financial administration by SMEs can be punishing. Almost a third of businesses spend more than 8 hours bringing their account in order every week. In a bid to relieve SMEs of their time and financial burden, KPMG and Metro Bank have joined forces to deliver tailored services reducing the time spent on administration.
The joint offering provides small businesses with quick and easy access to Metro Bank’s advice and services, as well as to a dedicated KPMG accountant - offered through KPMG’s Small Business Accounting service - potentially reducing time spent doing the books by more than 90%, equivalent to 45 days per year.
“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,” explains Bivek Sharma, Head of Small Business Accounting at KPMG. “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, adds: “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.”