3 August 2015
MarketInvoice and KPMG have today announced a strategic partnership to help more small businesses access the finance and advice they need to accelerate their growth.
Research from KPMG shows that under current growth rates big banks stand to lose 10% of their market share to alternative finance providers in the next five years; however, this could increase if the rate of change and development of challengers accelerates further.
The partnership between KPMG and leading alternative finance provider MarketInvoice, will enable customers of KPMG’s Small Business Accounting Service to access MarketInvoice finance direct through their accounting software. The partnership will also include a programme of business education incorporating regional events, webinars, e-books and online ‘accountancy clinics’ for small business owners.
Anil Stocker, CEO of MarketInvoice, said: “The world of finance is changing; fintech companies like MarketInvoice offer new ways for businesses to access finance quickly, simply and transparently, direct from their accounting software. It’s great that KPMG are backing this movement, and helping to make more UK businesses aware of the latest funding options available to them. We’re excited to work together to drive the growth of UK small businesses and the economy.”
MarketInvoice provides small businesses with working capital finance against future payments set to come into the business; whilst KPMG Small Business Accounting offers acomplete accounting service to small businesses, including bookkeeping, accounts, tax, payroll, management reporting and funding advice for a fixed monthly fee.
Bivek Sharma, Head of Small Business Accounting at KPMG, added: “Our objective is to help our customers grow and run their businesses as effectively as possible. This alliance supports that goal, as it will help KPMG customers to access finance as quickly as they require it. By combining cloud-based accounting services with online finance, businesses can access the funds they need more easily than ever.”