KPMG Closes UK Small Business Unit

Monday February 11, 2019

We’ve said it from the beginning: there’s no such thing as a one-size-fits-all accounting package. Working with SMEs just isn’t the same as handling Big Business clients. You’ve got to get up close and personal to understand the specific needs of everyone you’re helping. That’s the lesson Big Four accounting firm KPMG has learned, shutting down its UK small business services after just 5 years. Worse still, they’re dropping out right at the moment those clients need them the most – on the cliff-edge of the Making Tax Digital era.

When they set out, they told us they would “disrupt and dominate” the SME market – exactly the kind of big talk you’d expect. However, they quickly found themselves struggling to back up their boasts. Their foothold in the SME world was too shallow to climb from. So, at the worst possible time, KPMG’s small and micro-business clients are being advised to make other arrangements. The door’s being slammed, barred and bolted with the clearest possible message: Big Business Accountants can’t help you, and don’t want you.

To be fair, they’re doing their best to help clients shift over to more appropriate services, keeping a few people working on smoothing their SME customers’ transition to other firms. They just never got the grip they wanted on the small business market – and there were some unhappy noises about the level of service clients were getting. Complaints ranged from a lack of specialist knowledge to mistakes and continual swapping of account managers.

At RIFT, we’ve always understood that you can’t give great service at arm’s length. Working with SMEs means building relationships as well as offering world-class expertise. Being a RIFT client means you’re so much more to us than the bottom line of a balance sheet. We want you to thrive and grow – and we’ve got the in-depth knowledge and experience to make it happen.

While KPMG’s SME service struggled, RIFT’s average growth rate over the last 4 years has been an amazing 49%. What’s more, getting set up with RIFT couldn’t be easier. All it takes is a quick chat about what your business needs, and we’re away. If you’re switching from another accountant, just give us their details and we’ll handle the changeover for you.

RIFT covers the whole of the UK, and we specialise in small and micro-businesses. We can set you up with cloud accounting, and our single monthly fee covers you for the whole service. That means no hidden charges, expensive appointments or hourly rates.

Don’t get left in the lurch by overpriced and clumsy one-size-fits-all nonsense. When it comes to making a success in small business, you’re better off with RIFT.

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