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KPMG closes small business accounting service

11 February 2019

KPMG Enterprise is to close its small business accounting service, five years after it promised its cloud-based platform would ‘disrupt and dominate the SME market’!

The Big Four firm invested £40m into the technology platform, which it promised would deliver the accounting services to small and micro-businesses affordable prices.

It appears the firm has now written to all its current customers to tell them they need to find ‘alternative arrangements’.

A KPMG spokesman said: “We can confirm that we are proposing to withdraw the provision of our small business accounting service in the UK, which offers cloud-based bookkeeping to small and micro-businesses.”

KPMG obviously doesn’t see this as a growth area, and is re-focusing the business on services that are core to the firm.

A small number of staff (there were 200 working on this) will be used to manage the handover to alternative suppliers.

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