Can KPMG really disrupt SME market and take on Google?

Well, you decide.

Recently, Big Four firm KPMG has declared its objective to dominate the SME market by putting the message out to small businesses that they can pay them the same as their current accountant but they will “give them more”.

KPMG want to take on high-street and mid-tier accountancy firms that focus on the UK SME market – but can they really?

KPMG's UK head of regions, Iain Moffatt, said;

"This is the biggest investment KPMG has made in the SME market in the past 30 years.

The small business accounting platform allows us to enter a market that we haven't previously had access to.

"It's a transformational change in our business. For the first time, a Big Four firm can offer services to start‐ups and small businesses for a similar price as high-street accountants."

Moffatt did continue to state that their involvement with larger organisations would continue – their investment of the “lower end” of the SME market was a decision to expand their ambitions with a new arm for their company.

He denied that the "Big Four are more interested in the HSBCs and BPs of this world", stating that;

"We operate in that space already and we do it well. Our upper middle market share is around 25%; our lower middle market share is around 10-15%. We want to push that latter figure up to 25%.

"We'll do that by saying to small businesses: ‘You can pay us the same as your current accountant but we'll give you more'. We want to work with companies all the way through their lifecycle. We're building a fully integrated business proposition."

Moffatt also imagines that within the next five years, Google or Amazon will be their biggest threat, rather than other big accountancy firms.

Could one of the “Big Four” represent your SME?

At Omni Chartered Accountants, we offer a personal yet convenient service. Our clients receive one-to-one consultation and advice that is tailored to suit their circumstances.

In addition to this, our prices are low – we would actually throw down a gauntlet to KPMG and ask if they could really offer the same level of service at the prices we currently offer.

Why not telephone us for an initial chat on 01902 837408? We are always on hand to offer advice on whatever accounting query you may have and will be happy to work out the perfect package for your accounting needs.